well, that was not very exciting. the last gold exploration report did have a couple of good intercepts - which watso had a look at, and plotted up the cross sections, and included them in his post. not only that, but for some incredibly unknown reason, the shares had been rising strongly prior to the announcement - even the company had no idea of why the shares had gone up - and then there was a massive dump into the buyers.
this time, no such action prior to the announcement. it is good that the company has indicated where all the previous drilling has taken place, and one can readily see the picture. a couple of holes were drilled to test a previous intersection - which resulted in one high grade intersection - sadly, despite, there being plenty of drilling, there is obviously not much in the way of strike continuity (well, not with intercepts of at least several meters. being 4 m wide then there will be very few tonnes at this prospect.
in a report , 30 sept 2008, the following comment was made
"Results to date support the need to evaluate the open pit potential at Zeus to a depth of 80m, with further drilling proposed to repeat existing 100m-spaced lines (to JORC standards) and to infill the existing grid at 50m-spaced section spacing. At least 5,000m of drilling is required to evaluate the identified trend and to infer gold resources. "
note the comment about 5000 meters of drilling. now the company is talking about drilling a few holes 25m either side of this intercept.
GDA Price at posting:
5.0¢ Sentiment: Sell Disclosure: Not Held
