I’m disappointed too. Nonetheless, exploration of any kind is speculative. My understanding is AQD may not proceed with the other holes. This would be the best outcome because AQD started with holes that were showing the best EM conductor value before drilling but AQD was unable to find visible Nickel sulphide in drilled core, which is rather surprising.
Another point, core drilling is very expensive and it is not worth proceeding with the core drilling when EM conductor is not strong enough.
Though Fraser Range about 80km away from NOVA (Sirius) but it is unlikely to find Nickel deposit similar to NOVA because such Nickel deposit are rare in occurrence due to unusual geo-thermal conditions millions of years ago. These rare conditions involve sudden drop of temperature under tremendous pressure in magma chamber converting gaseous material into liquid and allowing heavy material to settle before spreading further. This resulted in massive high grade Nickel deposit at NOVA.
There is another deposit similar to NOVA was found in Canada long time ago but in a very localised scale.
In my view, AQD would wisely spend recently raised money in order to continue drilling elsewhere.
AQD Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
