The good thing about this type of post IMO on the AML site is they mostly stick to company business and differing opinions on that.
To a large extent it reminds me of an old tale of blind men and an elephant of which many versions can be found on google. One Version for an image:
This version goes much deeper into the concept of who is "right" and ultimately concludes:
The weird thing about truth is that you just don't see it 'till you see it. In the meantime, humility, faith and cooperation may help.
I'm not too sure about this as "the" truth tends to be subjective and "knowledge" based. The second sentence is IMO spot on.
Getting back to this announcement.
How much does a company need to report? There are ASX requirements but they don't, as far as I know, go much beyond reporting what AML did in this announcement. - Holes drilled, locations, assays and a Jorc appendix. Would folks on HC like more? Probably.....
Some companies don't include diagrams or make them less accessible as links (if at all) something I find with some of the North American companies I look at e.g. a recent NexGen Uranium's drilling announcement - lots of information but I have trouble understanding what it means other than looks quite good. Having said that the Arrow deposit is a very complex beast and they do put out images in due course.
I see AML's current announcement as part of a series related to the drill out of Vardy and as such detail analysis from the company is probably better left until all results are in unless there are some real highlights to expand on. In this case apparently not from the company's perspective.
The sections and plans are IMO the pictures that carry a thousand words. As Speccy says it helps to have geo experience to be able to draw some conclusions from these diagrams that may not be possible for "mums and dads" investors. Though I would hope they have picked up some of the jargon and increase their knowledge over time with reading and occasional comments from other posters such as Speccy, Procrastinato and others.
When do you stop a drill hole?
E.g Hole 294RC.
EOH depth 124m stopped above the Green Siltstone unit and FRF.
There are many considerations involved in stopping a hole some of which are below.
Given the rig would certainly be capable of the extension the question for Speccy (and me) is why not do this?
Using 294 as an example the obvious end, in an ideal world of drilling, would be to go through the Fish River Fault to see if any mineralisation was present.
Since it didn't one of these may apply:
Bad ground conditions? Possible to re-enter an put on a diamond tail? [On the oblique section Hole 295 is shown as 295a suggesting a re-drill for some reason]
Reached target depth for purposes of the resource drill out? IMO this would leave too many uncertainties as suggested by Speccy.
Results from other drilling on adjacent sections do not support drilling beyond this depth? Quite likely IMO but would have liked to see it hit the Green Siltstone at least.
Hole actually deviated off section and hit Green Siltstone but projection doesn't show this?? Not likely as it would show up on the next section. Over 25m deviation in a 124m hole would be extreme and rarely, if ever, happens
[I recall supervising an AC/RC hole that lifted some 15 degrees in dip and swung 25 degrees in azimuth within 150m. The hole was not initially down hole surveyed and the geology made no sense plotting it as a straight hole. A subsequent DH survey remedied this but it has remained as a reminder to me of how much seemingly inflexible 6 inch RC rods can be bent by such powerful machines and meter hungry drillers]
Budget? Not likely for another 50+- meters.
Drillers told to go to that depth and move on = target depth from drill proposal! Possible but not likely.
[Rig Geo's do not like the 2AM radio call that gets them out of a warm bed to check the end of hole that came a lot quicker than expected. However, it is part of what you get paid for including watching any budget where every meter is expensive. A real difficulty comes if the alteration, mineralisation, veining or whatever is interesting and there is a need to decide to drill for one more rod (3 or 6m or a couple of hours) to be certain you haven't missed something. A tough call IMO for Walford Creek where there appears to be many complex zones of mineralisation.]
Someone made a mistake? It happens.
To get an answer chat to the Rig Geo just after the hole finished at 2 AM one frosty morning or whenever.....
Some possible considerations for when to stop one hole.
I haven't tried to do it but did the holes reported upgrade inferred or projected resource.
Apologies for this post in some ways as it was typed with a lousy headache so hopefully makes some sense for weekend consumption.
AML Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
