good announcement go go, page-2

mining guruu's any thoughts Anyone have any thoughts here. From speaking to the company have summarised as follows.

Snake Well - gold propsect out of Geraldton. Basically their doing about 40 RC holes to extend the present resource and his guess is after this drilling the resource would increase from around 100 K ounces (at 2 g/t) to around 250K ounces (at what I assume would be significantly higher grades given the high grade results announced today and over the last few months that haven't been included in an updated estimate). They're also doing some wildcat drilling with a second RC rig. They're going to follow up the RC drilling with some deeper diamond drilling a they haven't tested at depth yet. At this point the laterite ore is shallow (down to 15m with waste to ore ratio 1.75/1) and the oxised ore is a little deeper (different locations). Conceptual studies suggest they'd starting thinking about a pre feasibility study for putting a plant out there around 250K ounces but they are obviously hoping for a lot more.

They also have a an aggressive drilling program this quarter at:
Munro Bore Meekatharra - gold resource looking at upgrading present resource to 50-100K ounces of gold in shallow area that they could sell or get toll treated (down the road from under-utilised mills with a good road 1 K away) for a bit of cashflow.

Dalton Pilbra - Nickel - they are getting a bigger drill rig here now to properly test the anomaly - have had some lowish grade hits - they are dominate land holder in the area.

Blue Rose South Australia - copper/gold prospect following up with a bit of aircore drilling

Also they are attracting some interest from soem majors on the big Copper resource they got from MIM in Nevada. They're just doing data completation at the moment.

In summary they have a lot of drilling going on and given their recent record and that it's all follow up drillign they are sure to get some good hits. Mining specs have been weak recently but this one has been steadily moving up.

Appreciate any feedback

Cheers
hots