However14 Dec 2016 14:08
We know Birdy is contradictory, because we were supposedly doing 3D modelling earlier this year and have heard nothing further about it. Now the modelling is next year and it is likey we may not hear further on that. Also, today's RNS, while it effectively capped activity in the north, did not result in favourable gold grades, if at all.
His statement in part:
Colin Bird, Chief Executive of Orogen, commented: "The ambitious final 2016 step-out drilling programme at Mutsk produced excellent results by significantly extending the gold deposit footprint. During the winter we will update the project model to gain an enhanced three dimensional understanding of the nature of the deposit with a view to further resource extension and definition to JORC standard...."
And the actual news:
"Orogen has now received all assay results for the 2016 step-out diamond drilling programme at the Mutsk gold deposit......OG16-59, cut several intervals of hydrothermal alteration, one of which was gold-bearing, assaying 0.35g/t Au over 4.5m from 25.5-30.0m depth. This shallow zone was heavily weathered with some core loss and gold may have been washed out during the drilling process. The final hole, OG16-60 further to the north, did not locate any significant gold values.
...............
Overall, management is very encouraged by the outcome of a relatively limited drilling programme in 2016....."
Birdy mentions that the final stage of the drilling programme is ambitious, yet if the entire 2016 programme has been a relatively limited one, then the final stage simply can't have been ambitious. Lol.
Also, "gold may have been washed out during the drilling process." I feel they should know for sure if it either has or hasn't.
Only my thoughts, but for me, today's RNS alone is evidence of Birdy trying to paint over the many cracks of a very amateur set-up.
In my opinion.