Mining MarketWatch Journal - update sectionThe following is found near the later part of the Mining MarketWatch Journal article that was updated this PM. I think they make it clear the smart thing to do was first do exactly what EXS did do ... the Stratigraphic Drill Hole was "commissioned to prove the concept of a synclinal structure". If I recall it was originally announces as a Statigraphic hole. Stratigraphic means according to Wikipedia "Stratigraphy is a branch of geology which studies rock layers and layering (stratification)". So those that think it is a waist do not understand the methodical nature of the exploration process and that they had to do this hole as they did it to prove the model and use it as a reference point. A very good hole result considering the basis under which it was commissioned:
Source https://miningmarketwatch.net/exs.htm
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Notes on initial drilling of the North Limb
EXS.V further proves TPW gold deposit model and that the structure is large enough to contain the 30 million oz gold the model is based on
The model is U-shaped (north limb, central fault and south limb) and thus a Stratigraphic Drill Hole was performed this Q2 2012 on the North Limb, commissioned to prove the concept of a synclinal structure, to prove that the North Limb structure is there (like the South Limb is), and determine if the structure is big enough to contain the 30 million ounces of gold the model was based on -- the results released September 26, 2012 (see related release entitled "Explor Intersects North Limb of Syncline on Timmins Porcupine West") show EXS.V accomplished all that plus found gold in the process which will provide a good reference point to step out from and build on further down the syncline as the north limb is seen now as a mirror of the prolific south limb. In fact, the results show that the lower grades encountered on the North Limb near surface mimics the lower grades encountered on the South Limb near surface by Explor and the previous operators of the property. EXS.V has successfully identified the components of the synclinal structure and the whole geology conforms to the model.
EXS.V required three attempts to complete the desired long stratigraphic drill hole because the first two holes encountered large faults and needed to be abandoned. These faults, although a nuisance to been drilled like they were, are in fact a welcome feature to have encountered as they are the conduits (piping system) necessary to convey the gold mineralization so that gold would be deposited along with iron in weak structural rocks. You won't find any gold in the Porcupine-Destor Fault but you will find it in the splay faults associated with the Porcupine-Destor just like EXS.V has proved-up on mineralized limbs of the syncline on the South Limb, it is now only a matter of systematically identifying it now on the North.
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I don't think EXS will have any problem moving this to 3 million ounces by the end of 2013. Then an exit strategy should present itself and we will all easily see 40 cent plus including the dilution factored in.