RE: Divi Vs Buyback_£5M & 15p share price18 Dec 2025 16:17
I’ll happily admit drill results can confuse me. But I did ask ChatGPT “are these results good for a maiden drill?”
Short answer: yes — these are encouraging results for a maiden reconnaissance drill program, especially for an early-stage VMS target. They are not “discovery-level” yet, but they do exactly what a first-pass program is meant to do.
Here’s how to frame it realistically and credibly.
⸻
Why these results are good for a maiden drill
1. Program objectives were met
For a first-ever diamond drill campaign, the key goals are:
• Confirm the geological model
• Intersect prospective stratigraphy
• Demonstrate metal fertility
You’ve achieved all three:
• Lithologies (basalt/andesite)
• Alteration (chlorite–epidote–carbonate)
• Stockwork sulphides and multi-metal enrichment
That’s textbook Cyprus-type VMS architecture.
⸻
2. Grades are meaningful at this stage
For VMS systems:
• Early drilling rarely hits massive sulphide immediately
• Stockwork and stringer zones often come first
Your intercepts fit that pattern well:
• 1.04% Cu over 1.5 m
→ Strong copper grade for a volcanic host, especially inside a broader halo
• Multiple 0.3–0.5% Cu zones over several metres
→ Indicative of a robust hydrothermal system
• Zn + Pb + Cu over 18 m in a faulted stockwork zone
→ Suggests proximity to fluid pathways and potential lenses
• 1.1% Zn with Cu support
→ Reinforces polymetallic VMS potential
For context:
• Many VMS discoveries start with 0.2–0.6% Cu equivalent in stockwork before higher-grade lenses are found.
⸻
3. All holes hit the right rocks
This is a big positive that often gets underestimated:
• 100% intersection of prospective volcanic units
• Consistent alteration across holes
• No “dead” holes
That tells you:
• Targeting was sound
• The system is laterally extensive
• You’re drilling within the mineralised environment, not chasing noise
⸻
4. Structural control is emerging
The sulphide stockwork in a fault zone (AM25DD003) is important because:
• VMS systems often focus mineralisation along syn-volcanic structures
• These structures can localise higher-grade massive sulphide nearby
This gives you clear vectors for follow-up drilling.
⸻
What these results are not (yet)
To be clear and market-honest:
• ❌ Not an economic discovery yet
• ❌ No massive sulphide lens intersected so far
• ❌ Widths are modest
But maiden programs are about validation and vectoring, not proving a resource.
⸻
Bottom line
Yes — these are solid, encouraging maiden drill results.
They show:
• Correct geological model
• Fertile VMS system
• Meaningful copper and zinc grades
• Clear justification for follow-up drilling
The next step is target refinement:
• Down-plunge and along-strike drilling
• Testing below s
Sign In
Follow the stocks
