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The best indication of what's in the breccia is the diorite. The diorite is being infilled now around holes 6 to 11. Hunting around the 2m at 7 g/t Au.

My personal view is that the Main Dome is good and for Poulden to raise the correct amount of money for a bigger drill program and road build he needs to know the accurate cost and to be in position to strike when the iron is hot to raise at the best time.

No point releasing the first 2 juicy holes months ago for only interest to dissipate and the sp go drift before he is ready to raise for the next phase.

The middle east is competing for news atm, so it would not surprise me if he lets the Iran War settle for a few days before releasing news and tackling the shareprice. Lots of news coming thats for sure.

Great Post PJ, my penny's worth is that I suspect the sp will break downwards before bouncing.

Let's see how the market moves :)

It is also worth noting that the bar of success is set very low. Since this is the first time the Main Dome has been drilled any return of copper and gold is a significant win because it starts the hunt around the hinges for the accumulated gold deposits that naturally reoccurs in low pressure area of these types structures. Just as gold gets predictably deposited and importantly accumulates in low pressure points just past the inside bend of rivers or behind large rocks. Gold in rivers can be found continuesly in the 'racing line' of a river but much more in the low pressure areas. This is a science not a lottery. It is actually quite insulting to geologists like Ed to suggest they are just prodding around with their fingers crossed. What I'm pleased with however is that Ed went straight for the hinge with hole 2. Well done that man!

In a nutshell, the better the assays the higher the shareprice, more capital can be raised with less dilution. If the assays are barren, capital will still be able to be raised but it will require more dilution and quite possibly less cash will be raised and it will result in a smaller drill campaign and no road.

Hence the road is a bit of a green flag imo.

Spot on howezap. 100% in control. I will be honest the odds look heavily in our favour given the area and mineralised quartz breccia with repeated alteration. I'm mega happy with my research.

Let's see these assays and take it from there.

Https://youtu.be/61jRy362TrI?si=4_8hS0uk8GsxicJo

This explains the why the brecciasation of the pipe at Red Setter is so important.

Have a look at the cores, do you see any reds and blacks in the breccia?

Https://youtu.be/XCgGa24C2zY?si=3vYcciJaG303u44r

Look at the cores stacked with quartz and chunks of pyrite.

Hillbilly, not being funny, have a look at 25RSDD001 cores. The visible pyrite chunks are the size of a finger nail. The intensity of the breccia quartz is impressive. No wonder they remain happy with the cores.

I suspect they are in the office now digesting the data and talking shop. Wish I was a fly on the wall.

Well, I'm of the mind that RP has been working towards this since 2012 without any real success...and thats not for the lack of trying. So while we are eager to get the news he is not in such a rush, he has said in the past better to take your time than balls it up.

I don't blame him for taking his time and spinning us along.

I'm just making sure my shares are in my wallet when the news drops.

Of course! But look on the bright side you are a better person. More virtuous. Virtue can't be gained in isolation you need a catalyst. In this case it's our BOD.

RNS'D on 25th September.

"The first drill hole core samples are at ALS Laboratories in Perth and have been cut, with sample preparation underway. Assaying will begin shortly and results expected in the coming weeks."

I believe some companies fly core to Canada for assay, perhaps New Zealand is an option. Or use the newly consolidated overhead to buy our own lab? At least we would get an income?

One things for sure I think lessons have been learnt. Lets see how the company responds.

Well worth revisiting the cores from the first two holes, if you are struggling for patience, and looking at the lateral fracturing and mineralisation.

The cores are absolute belters, no wonder they were grinning.

They never were going to trickle good news into raising capital and restructuring.

Neurotic impatience on full display here.

Told you all it was going to be March ages ago. Blindingly obvious as the last hole he was only finished 10 weeks ago!

A capital raise before results will blow the brains out of the shareprice.

New ground being tested all the time.

"In addition, a new Mobile MT survey has been flown over the north-west extension to Red Setter, with results currently being processed by Expert Geophysics Limited. The survey also covered two smaller Wishbone tenements south of Telfer."

 

It's also worth pointing out after the flop of UFO's 'bonanza silver grades' we simply can't guess what the shareprice is going to do. I suspect while UFO's grades were impressive the volume simply wasn't there. While at red setter the hinge areas to be targeted are both huge and multiple.

Red Setter has the geology to have several massive underground pits with the open pit section of the shallow diorite that intersects it.

One thing is for certain I'm not going to sit here and promise bags after what I've seen going on else where.

To be fair they have 2500m core samples, 1500 bags of RC samples and geological structural data coming in now "by February".

This is a huge amount of data being dumped on Ed and his team.

News next week at the earliest.

DazzerG, yeah I understand the frustration but Ed did say the assays would be in by Feb for them, not us. It is obvious they are having a get together right now to open the sealed envelope. Then it will be back to the office to assess plug in the numbers and draft extensive RNS releases.

Given the amount of information that's being prepared (updated geological modelling, MMT survey updates, assay tables and schematics, corporate news that needs to be signed off by lawyers, accurate drill plans of where we are going next. It would not surprise me if it more like the second week of March before news is passed to us. Especially if Poulden wants the groundwork to be laid to 'spring' capital raising on a hot and excitable shareprice.

In all honesty I don't know if the last assays have finished up as it was 10 weeks ago they were started on with the festive period in between, though it was only 300m, and given it is 50-100m of that DD is overburden on the diorite, it is fair to say only about 200m of core was being cut for assay, so given that, it may well be complete. The diorite is shallow which is great.

If the assays are not in by 2.5 days what are you going to do? Blow your brains out? 🤣

GLAGH

Good luck Manx!

1Up, I believe the bod kinda got swept up like the rest of us until reality hit and not only were the initial assays taking a few weeks longer than usual, Poulden took the opportunity to raise and consolidate. Then the thought of releasing the most juicy assays first and then waiting until the rest of the assays and drill plan proposals was just too unpalatable as it would have stole the thunder if you like.

So probably the original plan was to drill, drop assays as they went and just survive, that changed to raise lots of cash, consolidate and plan a road for the future drill campaign.

New reality moved the goalposts in nearly every respect. Lets face it, Pouldens not a mug, he's a wiley old fox.

2nd of March rather.