The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Thanks howezap, makes sense ??
Whitts, yes that is true although is just 3 holes outstanding from what was to test southern extension After evaluation from new survey concluded the resource swung more south which was when the new application for new pads were submitted. We know new pads were a result of the sub optimally sighted holes from the old survey. The other 3, holes 31,32 and 34 were to test IP to the south east extension of RC So yes will no doubt drill more holes south, as these holes will certainly not define the southern extension which could potentially add ‘anywhere’ up to a further 1km of strike to the main resource, all of which will be shallow, open pittable with more gold.
And some others might think RC is not good enough! Tut tut
We're waiting for results from 6 holes from the RC southern extension - does that feel enough to close it off? Appreciate it may depend on what the results actually look like. Or do we think they need to go due south rather than SE towards Ascot?
Yep, I think you're right but that then suggests an extension to the duration of exploration. I'm not against that but just hope that African funds will be in-coming by then to avoid the need for dilution.
I believe the one obvious, apparent reason is that due to targeting issues with initial RC southern extension drilling (West lobe). The new drill pads were applied for after interim IP evaluation so potentially exploration shifted to understanding no man’s land and subsequently now Ascot while waiting for the approvals.
Excerpts from previous RNS’s indicate clear intent.
See howezap post Thu @. 17.23
They will certainly return as there is the need to close off to south to work into the model to complete conceptual pit.
Thanks Howzap. Still don't understand why the western lobe has not been explored though !
After a quick check, 6 lines at 200m intervals, with total of 17 linear Km’s = average of 2.8km lines across both anomaly.
Very extensive will have covered all RC southern ext and Ascot
From 28/02 RNS
The latest IP extends from the previous done in phase 1, covering a couple of lines that were unable to be done due to forestry work at the time, and extend south across both lobes southernly approx 1.2km if I recall as were at 200m intervals.
Sure that is about right without checking.
It has surprised me that the south western lobe from the IP survey seems to have been totally ignored. I'm no geologist but from Iceberg's message "west maganomaly being the potential pulled up high mineralised intrusion..." suggests that western lobe mineralisation would be at shallow depths while mineralisation in the eastern lobe would be deeper - yet no exploration of that area. Also, not sure what the intention of the new IP survey is. I know it will cover some new regions of the forest which could not be surveyed the first time around but is it to both refine and extent the survey? Anybody have more info?
Good looking at those ip.
Not on my laptop atm. But this west lobe here https://mobile.twitter.com/IcebergShares/status/1527590360985264129 (sorry done on phone). And the middle bit between that and the east lobe with a Scot is probably the best shot.
The diagram is from 600m.
If we remember back to the video from the weekend, we probably have the east maganomaly being pulled down into the subduction zone and the west maganomaly being the potential pulled up high mineralised intrusion...
We really have a much better idea of the geo now, with massive intrusions which are poorlygraded and have fooled the team a bit (understandably) then smaller (still large) highly mineralised intrusions.
It's not been easy, but through hard work and drilling they are finding the mineralisation they need to make this a top 3 undeveloped copper project in australia.
Btw when we get the new survey I hope we get various depth profiles.
lol andy
{claps hands}
I just got your joke at the end Andy.... VERY true..made me laugh a lot.
Have a good friday
Howezap thanks for posting the geophysical survey from last year.
I have done a compare with the latest phase 2 drill map which is attached and tried to overlay latest holes on the geophysical survey
https://drive.google.com/file/d/1KOv9f8GEDYkIwUo6lwNtqsYSYjCBd8Uv/view?usp=sharing
The geophysical survey map had purple dots indicating the approved drill pad locations for phase 2.
There would still appear to be 3 approved locations not yet drilled which I have marked with a "?"
I have added purple stars on the map indicate the presumably new approved drill pad locations as referenced in my post yesterday.
PS if anyone else is having issues with filters then check you haven't made my error of spelling it with a silent P