Please note that I do not have any background in mining, so any...

Please note that I do not have any background in mining, so any my posts are just for entertainment purpose only.
It is somewhat like interpreting at viewpoint of phenomenological  approach.

In order to find current season, there are typical 2 ways;
1.  To check a calendar which derived from  accumulated humans science and knowledge;
end of Sep is end of the middle of Spring
2.  To check surrounding phenomena such as trees buds sprouting and flowers blooming to perceive Spring, etc.

Ironically either way is neither 100% correct nor 100% right, so we might need balanced views
by comparing each other, imo. Positive side could be:
(a)  before reaching at current Iris (and Electra) point, company has encountered very many unsuccessful
drilling outcomes at several projects, which is very good sign for something extraordinary events as in this world
there is no free lunch.
(b)  if we try to read between lines, today company also announced both follow-up drilling at Iris and divestment of
Chemeleon gold asset; likely to more focus on Iris (and Electra) region and more raising fund by selling it.


It seems company mentioned ISCG mineralization seems somewhat alteration style of IOCG deposit.
The difference can be summarized by the following future Conference to be held 2 Dec 2016
http://www.saexplorers.com.au/speakers.html

Dr Antonio Belperio (Executive director - MEP)
Exploration for IOCG and ISCG copper-gold giants. How different can they be?

Abstract
Intensive exploration for IOCG – related copper-gold in both the Gawler Craton and the Cloncurry District over the past 10 years has led to a greater appreciation of IOCG alteration and mineralisation styles. Extensive outcrop and shallow cover in the Cloncurry district has resulted in many more styles iron related mineralisation, including iron sulphide-, iron carbonate- and calcsilicate- alteration styles. Although the Gawler Craton remains the premier IOCG exploration address, there is much still to be uncovered by utilising other models hitherto largely overlooked. This presentation will look critically at several such models and how they are being applied at the Prominent Hill joint venture project between Minotaur and Oz Minerals.


If company searching ISCG mineralization is alteration of IOCG deposit, I think we'd better understand what is IOCG deposits are first by;
https://en.wikipedia.org/wiki/Iron_oxide_copper_gold_ore_deposits


As I am almost blind in mining field, my interpretation is very leaning towards we are facing
very highly likely promising situation at Iris (and Electra). I would say 70% likely.

I will leave any critics and accurate precious analysing to specialists in the field.


Regards,

ps: I am holding definitely negligible small quantity shares and I do not have any intention to ramp -up or
encouraging to buy company shares.