RE:Moose Pastureat this stage of exploration no drill hole will prove a company economic.
its about proving continuity in mineralization at this stage.
Im not sure they did that.
But to claim the results are uneconomic is kind of foolish because the project does not have an economic study done yet. There has not been enough drilling work to create a PEA.
The company does not have any resource, which by definition is an uneconomic deposit, let alone reserves, which would be economic.
No drill hole would prove this project economic. No single drill hole creates enuf for a NPV or IRR on a project.
If thats what investors were looking for then they were going to be disappointed no matter what.
Its discouraging the holes from surface to 195m mostly had low grade mineralization.
Its encouraging that the holes below 200m mostly had good mineralization.
The next phase is likely make or break. They need to show the mineralization and depth is continous and high grade, which is the case at Fosterville.
I personally dont know what to think as of yet.