I am going to have to wait for the Updated Cross Section Diagrams before I can make a more detailed summary due to the "various drilling angles" used in this latest drilling program. However, I can say that the release is very much as expected...the Cote Lake Deposit has pinched out to the South West, the mineralized intervals have "shrunk" as expected.
Hole E11-116 was the highlight...165 metres @ 1.20 g/t .....they also picked up an interval of 43 metres @ 1.02 g/t at the bottom of the hole. I felt they had a very good chance of picking up the mineralization at depth and they most definitely did....remember...this mineralization is outside the previous resource and will add ounces quite nicely...thanks very much!
Some investors were not impressed by the latest results...in my opinion the fast money has been selling over the last couple of days....nothing to worry about....anyone that understands the story will stick around and be rewarded accordingly. You cannot please everyone!
The "dykes" that they are running into with the infill drilling may be a concern to some...but...what we must understand is that they make up a very small percentage of the Cote Lake Deposit and will have little affect to the overall ounces. They will drill in close proximity to the dykes and confirm mineralization is present which will further demonstrate that Cote Lake is a "Porphyry-Type Deposit"...Continuity!
My research was confirmed and my expectations were met. Holes E11-113 & E11-120 did "overcut" the mineralization...misses. I believe they will pick up the mineralization to depth as they move North...North East from these holes.
There is no doubt in my mind that the chances for expansion in a significant way remains to the North...North East. The ounces will build in this region of the Cote Lake Deposit...a drilling rigg is presently in this area...an updated Diamond Drill Location Map will further demonstrate my theory...I am looking forward for a release, the current Map illustrates a total of 144 holes....they are now up to about 175 holes!
Please...do not get fooled by todays action...hold tight and be right!
I have not sold any shares!
If you can hold on for the next couple of weeks....good news coming!
Digger144
P.S. This will more than likely be your last opportunity to "get in" or "add"...what a deal!
Updated NI 43-101 Resource Estimate....Preliminary Economic Assessment on the way!