RE: RE: RE: RE: RE: Congrats all...It's hard to start drilling when you don't have any money in the bank. They couldn't have started drilling before the close of the PP.
The drills will start soon - all in good time. But the big question: is which target(s) will they be pursuing? The original Mwamazengo discovery with proven results of:
MBNR001: 34m @ 3.60 g/t;
MBNR007: 12m @ 9.11 g/t;
MBNR015: 63m @ 2.59 g/t;
MBND001: 31m @ 5.97 g/t.
Or will they spend the money drilling the "newer" site next door at the Sisu River target? That site has the following results (remember that these are only grab samples):
| SS-X-09-001 | 488809 | 9655276 | 2.05 |
| SS-X-09-002 | 488809 | 9655276 | 0.47 |
| SS-X-09-003 | 488808 | 9655256 | 89.20 |
| SS-X-09-004 | 488808 | 9655256 | 40.70 |
| SS-X-09-005 | 488781 | 9655354 | 9.44 |
| SS-X-09-006 | 488781 | 9655354 | 1.49 |
| SS-X-09-007 | 488802 | 9655384 | 1.87 |
| SS-X-09-008 | 488789 | 9655408 | 0.06 |
| SS-X-09-009 | 488791 | 9655278 | 23.00 |
| SS-X-09-010 | 488792 | 9655290 | 4.47 |
| SS-X-09-011 | 488792 | 9655290 | 4.13 |
| SS-X-09-012 | 488792 | 9655290 | 3.96 |
| SS-X-09-013 | 488802 | 9655260 | 21.30 |
I submit that a million bucks is a pretty small drilling budget. They will probably get around 5000m worth of drilling out of that. To split up such a budget between two targets would only be useful if you are pretty sure of hitting something worthwhile in each.
Personally, I'd rather see them spending the whole drilling budget on the original Mwamazengo site. We know that there are good grades there. Hitting a couple of high-grade holes over significant width would really give a boost to the SP, especially because gold juniors are 'so hot right now' (Hansel, Hansel, Hansel!). With a nice sustained SP boost, another round of financing could be undertaken to raise some real cash to really get this play rolling.
All of this will take time, of course. But in my mind, this round of drilling is absolutely paramount. No one wants to see this play diluted any further before hitting something substantial.