Barbasco drilling is now underwayAs per the latest press release exploration drilling on the Barbasco property 7 Km from Fute del Norte is now underway. The first hole is part of a 9,000 metre grass roots exploration programme.
Deposits buried under 200 metres of cover rock are never easy to find but they do have the Fruta del Norte model as a guide. Soil geochemistry, tectonic setting, stratigraphy and lithologies are all identical to Fruta del Norte.
I am optimistic that exploration success is going to bring a fresh wave of investors into LUG and end this malaise. Yes, the market does consider LUG to be a boring stock in a boring sector.
Q1 production figures should be announced in another week or so.