How to Read Drill Results of Exploration Companies (PART 1)

Analysing the drill results of exploration companies appears to be harder than I thought it would be. I'm happy that I didn't make this video on my own, as it would've been very incomplete. Not that this is a complete guide on how to analyse drill results (I don't think that's possible to make) but for the ones ready to pay attention, I think there was a lot of value in this discussion on how to analyse drill results, especially if we're talking about gold, silver & copper exploration companies.

TIMESTAMPS:
00:00 Intro
01:10 Important notice
02:10 Do drill results matter?
04:35 What to look for in drill results?
05:55 Does grade matter in drill results?
07:13 Average grades of gold, copper & silver drill results
12:35 Different types of drilling
17:30 Width of the veins
22:45 Are narrow veins expensive to drill?
25:45 The cost of drilling
30:20 When to give up on a company
35:00 Resource & Reserves NI 43-101
38:41 When is a project too small?
43:00 Does the price of the resource matter?
49:00 Closing thoughts

I am getting paid for the production of this video, which not only makes me evil, it can also make me biased towards the companies mentioned in the video. So, don't listen to anything I say. I'm no a financial advisor. Read the full disclaimer at the beginning, before continuing. I may own shares of companies mentioned in this video, or have another type of interest in them.

[taylorthompson]

Can’t believe he had the patience to teach us. Good on you, and you too Antonio for making it happen.

[mrkemo]

Happy to learn how to unwrap what I viewed before as a bunch of numbers on paper. you go Antonio !

[ultimatehandyman]

When I saw the thumbnail, I thought you were moving into the DIY market 😂
Excellent video, thanks for sharing.

[elvispresley]

Unvaluably good advices.

One of the most important and valuable videos I’ve ever seen.

Thanks!!!

[steve]

Good video. Some other suggestions. Recovery/metallurgy of the metal in question (this is very, very important), geometry ( is the vein vertical or is at a 40 degree angle. Has a huge impact on mining and dilution), equivalent grade calculations ( this can really skew the data If you don’t know how to decipher it), how a drill intercept is reported (discuss including intervals and grade smearing) and I believe discussing grade variability in different mineralization types is important (in a nuggety vein you could have 100g/t over 1m ten meters away from another drillhole that intercepted 1 g/t over 1m).

[TheWinters]

That was really great, Antonio! I hope you will follow up on that one soon with a part two! Thanks for the hard work and I hope your renovations are coming along nicely.

[wantonfuey]

You’re getting better and better Antonio. I do not know if you could last for small but you’re doing it.

[albertolc]

Great video Antonio. Quinton Hennigh is one of my favourite guests. And great summary in the description, thanks!

[randallwilson]

Thank you for covering this subject. It's very helpful.

[joshanderson]

awesome interview, very useful. Thanks!

[loganshaw]

Thank You! the education I have been in need of.

[jamancity]

Excellent content Guys, thanks to you both !👍🇦🇺

[ralphmerten]

Dan Durrett‘s book is really helpful. Not too hard to understand his investing style.

[oldskool]

Thanks Antonio, I've learned a lot through your videos. For instance, I'm dropping ETFs and doing DD, so if my grandkids have no inheritance...ha! But thanks, very informative. Never realized how complex this all is? Tagging it for review from time to time.

[TheFacit]

Filo mining (Lundin company) hit big time:

FSDH041 returned 163m at 5.43% CuEq (2.31% Cu; 2.07g/t Au; 183.0g/t Ag) from 780m depth within a broader interval of 858m at 1.80% CuEq (0.86% Cu; 0.70g/t Au; 48.1g/t Ag) from 188m depth. The hole ended in mineralization, with the final 20m averaging 1.19 %CuEq (0.65% Cu; 0.72g/t Au; 2.3g/t Ag).

Is it still opportunity here? Wait for more drill result or cash out?

[dineshratnam]

This was awesome - just earnt a subscriber!!

[kormkor]

Great stuff as always. Looking forward to that exploration economics video with Rick Rule one day. 😉

[paulbresnan]

This is awesome. I should name my first born after you. Thanks!

[sww]

Hi Antonio. Thanks a lot for this. Would be great to have an uranium expert discuss the same topic, maybe David A. Terry, Andy Wilde (I am sure there are many others...?)

[dannytrader]

Thanks for the video. Some constructive criticism to consider; talk and rant less and let him talk more, he is the expert we are needing to listen to and learn from. I would just have really good questions to get the info out of him that we want and need. I'm not saying don't talk at all but make sure you're not burning too much time blabbing. Thanks again and God bless.