Spot on, tropical climate leads to heavy weathering at or near surface and this is likely the cause for lower grades however until they put that drill in the ground it is impossible to confirm. Costeaning and auger results from White Rock/Kilfoyle (Due this week??? Why not bundle them together?) should provide access to less weathered rocks so sampling for these will be a better indicator of prospectivety in the area. I have no real concerns with the prospectively of the geology, my only concern is scale due to the fact that Litchfield NP bounds the area to the North of Billabong Ridge on the Eastern side of the Reynold River so there is no chance of securing further tenements to the North if that North/South trend is prospective.
Good news is that most of the hard yards have been completed and the maiden drilling program has 6 prospective targets. That should equate to at least 6 RC holes in the maiden drill program however I am a bit skeptical about the wording for an early 2017 kick off. The wet season proper doesn't finish till April/May usually with March prime for monsoonal activity. They have high ground with relatively good access so I could see them getting early access however unless they capitalise on a break in the monsoon we might be waiting a while before any more news. In the interim we have as previously stated costeaning/auger results and soil sampling results from White Rock and Tank Hill North to look forward to, the latter might provide us with some more prospective targets.
MOX Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
