Are these good results? What constitutes as good results?
You do not identify the stock ticker (WHY do questioners do that???) so it is IMPOSSIBLE to give you a good answer.
A single drill result is almost meaningless (that is why I am harping at you). When a company does a drilling program they do a pattern of drilling holes. Then you look for a pattern to the results, trying to find a seam and body of mineral that is worth exploiting.
for Gold: 10gms/ton is high grade and 1 gm/ton is low grade so this is not a very good gold play on just that basis...but there are other things to think about.
For silver: If 1gm/ton is low grade for gold...what do you think less than 1 gm/ton is for silver (worth about 100 times than gold)...you want to see oz/ton there...
For Copper: you want to see several %...not less than 1%
So this result is not particularly exciting from the ore grades
BUT THERE IS ANOTHER IMPORTANT issue....how deep did they have to go to find this ore??? in this case it is 313.11 meters!!! that is about 1000 feet under ground. You cannot do an open pit mine here as the overburden is too great and the hole would be huge in diameter before you reached the ore body. So the mine were it to be built would have to be a more costly underground mine. This grade of ore for any of the metals shown hardly justifies a massive underground mine.
For gold as a example you can process low grade "placer" gold if it is at the surface and you have LOTS of water...Placer gold are gold fines in gravel...to process you just shovel or dump the gold bearing gravel into a sluice and wash out the fines....but 1000 feet underground is not this kind of gold.
FINALLY it depends on what the other drilling results are....this drilling result could be the leading edge of a gold/copper/silver body...other drilling results could be higher leading to the main ore body. HOWEVER if these were the results that the exploration company are touting....I would not be impressed as they usually only announce their good results
You MUST be carefull when looking at exploration companies....especially gold explorers. ANY mine takes about 5 to 10 years to go from shovels in the ground to being a fully producing mine. However exploration companies need money to explore....so they paint dreams of riches based on TODAY'S prices. Who knows what the price of gold/silver/copper will be when the mine opens....Gold could fall to $300/oz or be $3000/oz in 10 years from now...an evaluation of the find is very dicey using today's prices.
If the site is remote from civilization, is the grade of the mineralization high enough to create the infrastructure to process the mineral and take it to market (roads, electricity, smelter and processing facilities, a small city to house workers and families) It is a very expensive proposition.
For those and other reasons I don't pay attention to exploration mining companies (unlike oil exploration which drills a well and within a few months it is a producing well...or not) as they are basically sellers of dreams.
Do I hate precious metals??? NOT AT ALL. But I focus on PRODUCING mines...especially those that are junior mines (often pennies in the $1-$5 range) Now you have something to evaluate....do they make money on their commodity, is their revenues increasing with each quarter....often these will be takeover targets by larger mines like GoldCorp which does not explore for gold but takes over mines that are newly producing to increase their gold reserves.
In Summary as you can see....one drilling result is virtually meaningless....the one you show is not exciting.
For example 313.11 metres of 0.22% copper, 0.18 g/t Gold, and 0.88 g/t Silver was released for drill hole results.
Are these good results? What constitutes as good results?
