Ann: Chisel Base Metal Drilling Update, page-5

Sobering announcement... Great Western announcements are normally heavily laced with wild excitement with comments about raised eyebrows, exciting prospects, highly prospective...

The highest level of excitement in this one is "some geological encouragement", which is almost nothing!

My translation of this announcement is very negative:

The most significant is a 3m interval of massive pyrite and/or Pyrrhotite (sulphide minerals) within a sequence of fine grained clastic sediments, at the end of the third hole – dust everywhere so far except a hint of a structural something at a depth of 200m

believes this is an indication that the geological process that results in some styles of sediment hosted base metal mineralisation is occurring – only the possibility of valuable minerals, but nothing definite so far

review the drill program ... whether geophysics can be used for more precise targeting of sulphide horizons – we need to find somewhere better to drill

I conclude that there's no evidence of soup in this bowl.  And presumably they used their available geophysical data to find the best prospects for the original drilling programme, so what "more precise" targets are available to them?

Drilling is miss and hit, so this isn't necessarily fatal for the prospect.  But it's a definite blow to any near term hopes we might have had.

We're back to waiting again.