@Bear77 You beat me to it. Was busy at work so couldn't give an update. But I was watching the holdings of STK and NEU screaming ahead of everything today.

It is a pity that NEU ran out of steam compared to STK.

Extending the drilling is not normally done unless they are confident there is something significant at depth

Also it appears they are determined to turn the target into swiss cheese with the tight grid pattern.

Unfortunately I don't have a large holding because I feel it is already extremely overvalued right now based on all available public information and my knowledge of exploration is very limited and thus it is hard to quantify the news with the current market cap of 200m+.

This is almost like AZS, DEG or CHN all over again.

Anything below 9.5c would be good value.

But if there is a positive result, I will try and top up at open instead. Have to be 100% certain the news is good.

Extending the drill hole is one thing, the move to keep on rigs on site at the expense of the other targets and do a 40x40 systematic drill is the key point of the release. A drill out like that typically means resource delineation i.e. "we really know we have something, lets see how big it is"

@BkrDzn Hence my "Swiss Cheese" comment regarding the 40x40. Goldworthy really turned Bibra into Swiss Cheese back when he was at Capricorn.

While the probability is good, we can't discount the risk if also the results underwhelm. Especially from the drill that got extended by another 100m as it would cost too. The scenario where they find little after 150m could play out. But I don't know enough about exploration and a bit out of my depth to dissect the events leading to previous discoveries of DEG, CHN, AZS, ALK etc...

A rally on bonanza hits such as 40m+ of Lithium, gold, rare earths is totally understandable. But going for a 40% charge on sudden change in approach from an observation or "hunch" is possibly next level stuff that you can't quantify unless you know the game well enough.

All very interesting.

I'm a geologist and can make a few comments:

• Good to see that they are now using Diamond Drilling (DD) and Reverse Circulation (RC) drilling going forward;
• Earlier drilling methods, such as Rotary Air Blast (RAB), typically yields a poor sample but enough to determine whether there is mineralisation present or not;
• Likewise, Air Core (AC) is a step-up from RAB in terms of quality, and can go deeper, but still has a lot of limitations in terms of yielding a representative sample for grade assessment purposes. It can also suffer from contamination wherein gold from a narrower mineralised interval above can leak into sample interval below producing an overstatement of the true thickness of the mineralisation;
• I also note that the discovery intersection is at the interface between oxide and fresh material, where localised enrichment often occurs;
• This isn't necessarily negative, and I note the encouraging move to RC/DD and the extension of the DD hole, albeit I assume that they saw something in the core that excited them, albeit they don't seem to have disclosed what that was;
• In sum, it's still early days and they seem to be doing the right things.