Ann: Exploration Update, page-5

With due respect Loutcrop, your interpretation is most likely incorrect. The depth at which the saline water was encountered was 705 metres, well away from the indicated position of the EM target. Additionally, the EM signal was significant, not subtle. Although disappointing; as I have stated before, the directional targeting was always going to be like trying to throw a dart at the red dot in the middle of the board. Their dart skills were not good enough. This hole target was never meant to be the main game, just an attempt to close off a loose end, and conclude the historic nature of this drilling program.
However, the main game is where they are now. That is, conducting HPEM on gravity targets, based upon the recent expert advice of Tony Donaghy. They must be well advanced on the Lake, and then on to many other targets. The saline waters are not a blind, as any true EM "massive sulphide"conductive target will stand out well above the "saline effect".
This is true exploration, with the corresponding highs and lows. After all, as the story goes, Sirius hit their bonanza on the very last hole. These targets are elusive, but very rewarding when found. The Sirius Nova plus Bollinger were sold for $1.80 billion in cash and shares, and if the current share price of IGO is taken into account, well north of $2.0 billion.
I have no doubt that MRD are on the verge of similar success. Tony Donaghy would not be enthusiastically pursuing if he had doubts about a successful outcome.