Just read through their planned drilling for Mars AT again.
They have 35 RC holes planned at a depth of about 40m across the anomaly which shares similar geological features and orientation to the challenger deposit 60km South west of Mars AT.
They are using a grid spacing of 250m and close spaced holes.
I can see there is an opportunity to add a further couple of rows further NE of the main anomaly, and SW to catch the smallest anomaly.
5g/t Au is a significant level to find at 4m. This latest drilling matrix should help pinpoint the size and depth of any deposit, and I would expect most holes to be positive in recording elevated gold, thats if we have a Challenger style deposit here.
AON seem to have sufficient confidence in comparing Mars to the Challenger deposit, to follow its discovery methodology.
While you're at it, go compare the Au levels in the Acra results from PIO, they were higher, up to 12g/t..
Exploration is a very costly and time consuming business, probably only second to oil exploration in costs. Technologies are improving all the time to help speed up the location and discovery of ore deposits, resulting in less wasted drill holes and complete "dusters".
Aerial and down hole mag surveys and on site hand held pXRF analysers means that drills can be better placed and only the most pertinent samples are sent for lab testing - saving more time and money.
The best strategy for owning explorers is to own 2 or 3 in different markets eg copper, gold, nickel.
Most explorers host multiple minerals anyway.
Hardest thing to affect the miners has been the slowdown in growth of the Chinese domestic market. Note its a slowdown, not a recession. China is still growing.
The world will always need Copper, Gold, Iron, Nickel, Oil etc.
AON Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
