Ann: Encouraging reconnaissance drilling results at Farno JV, page-13

Good Morning all.
Reconnaissance drilling with early results can never be bad news.
The problem for us is that we want to see the best, which this is far from.
Here is a link that refers to the FM jv agreement that is worth another read.

https://3xrykok2fwe3ai4ps46fxq5p-wpengine.netdna-ssl.com/wp-content/uploads/2017/12/20171208-DEG-High-Grade-Rock-Samples-increase-potential-at-Farno-McMahon-JV-AMENDED.pdf

I had wondered when these results would come in and also considered that we could find little like first pass at blue moon.
those rock chips getting close to 1 oz/t and the geochemical work done will be what is attracting them to do further work.
The previous vendor to this jv is the father of the md of Chalice.
It was Chalice that conducted the previous work as you will read in that link I put up.

This page of that ann is important-


It will be interesting to see how we progress with this jv from here.
The cost to conduct more reconnaissance when we have a lot to do on our other structural deposit that we already know will need to be weighed.
As for the point that @Sharpey made about the eluvial.
We have had this discussion before and I can only make reference to the geological definition.

imho, any gold in quartz or attached to structures is not Alluvial, it must be free.
I think this was to give the previous vendor so he had rights to continue his operation there but also obvious benefits if and when commercial production begins.
This news is one of many that is about to come.
I am looking forward to magnetics, Lots of drill results from our other well known deposits and an update on our Conglomerate.
There is plenty going on and the dots are joining up.
This may not be conducive to a lift in the sp short term.
I have my opinions about long term however.
As @Cujocat pointed out, the Pilbara stocks are up a little in the north overnight and deg on good volume.

Kind regards, Wack.