DRILLING RESULTS

Our investment GTi Resources (ASX:GTR) is currently in the middle of a maiden drilling program at its uranium project in the USA. So far, drilling results have exceeded GTR’s expectations - this is after only 10 holes drilled, and another 90 more holes either in progress or still to be drilled.

We have been following 88 Energy (ASX:88E) for many years and are delighted for them and long term holders this week with the company confirming the presence of light oil in the evaluation of their Merlin-1 well drilled earlier this year — finally confirming the elusive news we have been waiting for.

Today 88 Energy (ASX: 88E | OTC: EEENF) released an announcement on additional lab results from its most recent drilling campaign. This was definitely 88E’s best ever drilling outcome to date, despite the operational issues that occurred during drilling.

In the last few weeks 88 Energy (ASX: 88E) ran up over 1,000% on speculation of a huge, gushing oil result… Today the 88E share price has taken a healthy reality check (in other words it got smashed from its highs) on what was actually quite positive progress as far as oil exploration results go.

Today 88 Energy (ASX: 88E) announced the interpretation of its ‘logging while drilling’ data. The progress results to date indicate multiple potentially hydrocarbon bearing zones have been encountered whilst drilling.

Galileo Mining Ltd (ASX:GAL) is exploring for nickel in the Fraser Range, but yesterday announced that its recently completed drill hole didn’t deliver a discovery.

Kingston Resources Limited (ASX: KSN) reported initial hits of up to 28.02g/t gold at the Kingsley Prospect at Livingstone from the first 11 holes (954m) of a 54-hole (4,525m) drilling program.

Outstanding targets along strike from Legend Mining’s (ASX:LEG) Mawson discovery in the Fraser Range, Galileo Mining (ASX:GAL) doubles drilling program size that’s set to commence tomorrow.