3D Analyst is great for visualizing terrain / surface data and draping imagery. You can easily visualize vertical and directional holes provided you already have 3D features created. In my humble optioni, 3D Analyst is like a white canvas; the underlying technology is there but it lack in out-of-the box functionality. I have a tool that converts borehole logs into 3D vertical lines but I had to build it from scratch with ArcObjects. Do you need to import and visualize directional drillholes or deviated drillholes with assay values, generate vertical cross sections, use advanced labeling options in 3D? Can't do any of that without advanced knowledge of programming and ArcObjects.
There are other 3rd party solutions but I would recommend you look at "Target for ArcGIS" by Geosoft. ESRI partner that has developed 2 ArcGIS extensions for mining and geology. Does not require 3D Analyst. They offer a free trial and have a sample dataset and a tutorial that you can use to evaluate the software.
Another software I am a little familiar with which is apparently very popular in mining is GEMS and other packages by Gemcom. Might be an overkill though and it is not user friendly stuff.
