KAT Exploration Inc (KATX)

[ShortonCash]

So the Company that knows what good results are issued a "bad" result the day before Christmas...I don't think so.IMO It was a gift the core pictures are still on the website..waiting for the balance of the core results

http://www.science.org.au/scientists/interviews/w/woodall.html#11

Your first drilling target seems to have presented you with something of a conundrum.

It did. Well, what to do next? We drilled some more holes. We’re now out in the desert [laugh], over a hundred kilometres from any known copper mineralisation, drilling expensive holes which cost at least $100,000 each, following up copper mineralisation of a type that neither we nor anyone else in the world had ever seen before, in a strange hematite-rich rock which we subsequently recognised as brecciated granite



This is where the confidence of the management – the WMC Board and the Managing Director and, especially, the Chairman – became so important. They never once questioned our desire to keep drilling. Why did we keep drilling? Well, we’d found an unusual copper mineralisation. Sure, it wasn’t economic, it was sub-ore grade. And we had drilled a lot of barren holes that didn’t find anything. But here was the most astonishingly fractured rock, a place where perhaps a great orebody might have formed, so we kept going. Hole No. 6 found nothing. No. 7 found nothing.


Four more disappointing barren or
uneconomic intersections.


Success at last: RD10 intersects 170m of
mineralization which assayed 2.1% copper
plus uranium and gold.


The desert sands covering one of the world’s
greatest ore deposits.


The first drill holes and the huge orebody
that was nearly missed. Note all the breccia
is now known to be ore.

This is, by ordinary standards, almost perverse persistence, isn’t it?

Yes. We now know that some of those drill holes went quite close to very high-grade ore and we were just unlucky. But I am sure that many, many people and many, many companies have been in this situation looking for an orebody, having spent a lot of money, and have then walked away after drill hole No. 9! When do you stop? We kept going because of these exciting-looking rocks. Then we drilled RD10 and we intersected over 200 metres of 2% copper. And – what a bonus! – it also had a significant gold content and a significant uranium content