RE: Zagra27 Feb 2019 11:01
Note from November
Overview
4,000m surface diamond drilling campaign commenced at Zagra
Previous exploration has demonstrated both licences' prospectivity for polymetallic mineralisation:
Previously reported estimates by the Romanian state exploration company, IPEG Cluj, have indicated an exploration target (non-JORC compliant) of up to 3,000Mt of ore to a depth of 600m, at grades ranging from 0.4% copper ("Cu") and 0.3g/t gold ("Au") up to 0.8% Cu and 0.5g/t Au at Magura Neagra
Six veins associated copper and gold mineralisation previously identified at Piciorul Zimbrului through underground development
Drilling campaign expected to be complete by the end of December 2018
All core samples will be submitted to the ALS laboratories located in Rosia Montana for copper, lead, zinc, molybdenum, gold and silver assays
If you wanted to be critical you could say that timelines are a bit slipped, drilling campaign was expected to be complete end Dec and we are told today that assays passed end of Feb
Counter this with the fact the company has been preserving cash, has had a few other projects and or issues to progress, but this news confirms they are on top of all aspects and keen to push progress on multiple fronts. This secured an important opportunity and I believe demonstrates a grip on their operations.
Interesting to see the time reference in the RNS given recent criticism.
Roll on the next week or so and let see what comes next. Personally I would love to see a climb now. Fed up languishing at these levels
Kee