watso had a look at this mornings gda report. which of course was ho hum - because there are far too many narrow intercepts (true width is about 2/3rds stated width). it is easy to work out if the report might be any good - simply have a look at the trading prior to the report, and there was no interest
in post Post #: 4639495, watso made the following comment
holes 9 and 10 are interesting, and watso would not be surprised, if the company drills a few holes, to the north and south of this area of interest, in the coming weeks - it is probably a better bet, than other areas, and is probably the best chance of getting some extra oz - indeed, the company should think about putting about a dozen holes, around that area - another two step back holes, and maybe a drill fence, of three holes to the north, and another drill fence of three holes to the south. they should do this, while they have the drill in the area, or if need be, sacrifice other planned holes (depending on rig availability)
watso had already shown the cross sections for holes 11 and 12.. and for holes 9 and 10. the company has belatedly shown the cross sections for holes 11 and 12. holes 9 and 10, along the same horizon, have grades back down to about 2.5g/t over ho hum yawnish intervals
yes, watso suggested that the company do some extra drilling (perhaps 12 holes), while the rig is in the area - which they have chosen to do - with drilling to the north, and to the south, and a couple of step back holes- well, gda have come up with something similar
The first stage involves the drilling of 24 RC holes for a total of 650m a vertical depth of 25m. gda are not going to think about the step back holes, till a proposed second round of drilling (depending on results of phase 1).
frankly, this is the best chance of getting some oz - and a 20m - 20m (two holes per line), should give a good indication of reserves in the location
GDA Price at posting:
4.5¢ Sentiment: Sell Disclosure: Not Held
