Just a couple of things. Of course we're not going to know anything definitive until the assay reports. I don't think this was intended to supercede or even anticipate results. I think it was as stated- a progress report. And I think it was more descriptive than interpretive. So I don't think there was much hyping here- unless in the eye of the beholder the descriptions were encouraging.

I liked that it confirmed that the initial hole was JB's original target. And it seemed that there was a thoughtful plan for the second hole. 
It didn't seem out of order to outline the plan going forward and good news that he is drilling deeper. 
As for the PPS - I don't think the late selling had much to do with the report- except for maybe VP. If you go to any day trading site like BarChart- LBSR couldn't be touted any higher- straight strongest buy signals across the board. So I'm sure we're again attracting the day traders- and so it's likely we'll see more of this jumping in and out with early buying and late day selloffs for small profits. 
But even with this- I'm not going to complain about a 10% day. Kind of stretching the definition of a sell off. 
And this is all still without the really definitive assay news. 
Still pretty good!