Perspective?At 3% Ni the showing is about 50% sulphides (semi-massive). At 7% Ni the showing is 100% sulphides (massive). What the drilling has done is to validate the geophysical methods (since the targets have all been "real") and to demonstrate that there is a fair bit of nickel there in a form where, could you establish the gross tonnage, you would have a decent deposit. I would call it a neutral bit of news, not a bloodbath. Massive sulphides are no joke... if you have them in ANY significant quantity at a decent tenor then you have a serious piece of exploration property.
What were we expecting? 150 meters of massive in the first round? The real money at this stage of the game is not from the drill core but from the interpretation. Every hole builds your model, infills the geometry, and points you in the right direction. Much though I respect my colleagues in geophysics, they can reveal little about structure. To strike the mother lode on the basis of geophysics alone would be insanely improbable. Having sniffed out a lot of nickel, the rest of the year is for infilling data and following the trail. We just lost a bunch of speculators who were looking for an instant jackpot. Would have been nice, but nope... got to keep working for it.