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The most recent RNS, that of 15.05.2024, reported assay results from the remaining 22 reverse circulation [RC] drillholes at Pitfield, thus confirming the extent of the high grade TiO2 resource at Cosgrove and Thomas, which formed the basis of my 06.05.2024 estimated Exploration Target tonnage. Since those estimates clearly escaped the attention of some and no doubt after 14 days have faded from the memory of others, I repeat them here, as being the minimum based on the criteria as defined in that post, and limited by the assay data available at that time, as 1525M tonnes for Cosgrove and 1647M tonnes for Thomas.
The recent additional data increases those minimum estimates. At Cosgrove, holes 030 [6.05% TiO2] & 032 [6.31%] extend the N-S axis to 7100m, which assuming continuation of a 1000m E-W high grade sandstone sequence, gives a minimum resource of 2168M tonnes [see 06.05.2024 post for calculation method]. At Thomas the northerly extent is increased by holes 027 [5.91%], 029 [5.61%] & 030 [5.12%] but the southern limit remains unaltered as holes 013 & 014 are below the 5% cut-off. That increases the N-S axis of the Thomas target to 5800m and enhances the minimum estimated resource to 1771M tonnes.
These calculations, as explained in the 06.05.2024 post, are based on high grade mineralisation to a depth of 130m as indicated by almost all of the drill logs, but as this most recent RNS emphasises and as reinforced by SB in interview, of the 67 RC drillholes completed at Cosgrove and Thomas, 86% show elevated TiO2 grades within the top 40m. The average grade for that topmost 40m across all 67 holes is 5.53% TiO2, which compared with 4.82% for the 40m- bottom-hole portion represents an average 14.7% increase within the uppermost 40m. This zone of elevated TiO2 mineralisation is described as correlative to a zone of deep weathering as evidenced by highly oxidised saprolite [chemically weathered bedrock].
Since the majority of the 67 drillholes are within the 1000m x 7100m Cosgrove and 1000m x 5800m Thomas target areas, which form the basis of my minimum ore-tonnage estimations, it can be assumed that if as seems likely, the topmost 40m downhole of the mineralised deposit will be the primary target, it too will extend over a similar area. Thus the topmost 40m [40m downhole = 34m depth from surface] at Cosgrove equates to a minimum primary ore resource of 567M tonnes and that at Thomas to 463M tonnes, at an average grade of 5.53% TiO2. The balance, from 34m to 130m depth from surface, would constitute a secondary ore resource of 1601M tonnes at Cosgrove and 1308M tonnes at Thomas at an average grade of 4.82% TiO2. These are the minimum JORC compliant “Exploration Target tonnage” estimates, at the average TiO2 grades as stated, which I anticipate will be released in RNS, with the QA/QC verification of Snowden Optiro, within the next few weeks.
To be continued
Continuation:
In addition to providing the outstanding RC borehole data and identifying an elevated TiO2 grade within the surface to 40m downhole portion of the target deposits, the RNS also states that the 4 DD cores confirm significant chemical weathering of the host sandstones coincidental with the higher TiO2 grades. The mineralogical and metallurgical consequences of that alteration will be the subject of further study and will be factored into the ore processing and product formulation flowsheets. For clarification, the chemical weathering is not due to the present-day climate. It occurred under terrestrial conditions, sometime after the Leeuwin Orogeny [780-515 million years ago; see 01.10.2024 post, para 6, for details.] and before deposition of the Nangetty Formation rocks [max age 323 million years; ref Geol Survey, W Aus.] the oldest rocks overlying the Yandanooka Basin sandstone-siltstone sequence.
On 30.04.2024, I posted regarding hole RC24HYN001 situated c3km east of the Cosgrove Target area and situated well within the Mount Scratch Siltstone sequence, the location of which seemed to be speculative. As the recent assay results of 154m @ 4.06 TiO2 were released without comment it seems reasonable to infer that this location choice was to obtain data on the eastward extent of the mineralisation at the limit of the E70/5465 licence. Drilling yet further east would be within the E70/5876 licence and could encounter an increasing thickness of Nangetty Formation rocks overlying the target Yandanooka siltstones.
Although it is possible to extrapolate further to the possible implications, both operationally and economically, which a primary/secondary ore-tonnage might have on the mining and multi-stage processing of the resource, I will await further RNS disclosure before doing so. It appears from 'market' reaction, that understanding even this relatively simple early-stage aspect of the project, is a challenge, so the complexities to follow will be a daunting prospect indeed. However, SB and Andrew Faragher [who writes the technical stuff] are doing a brilliant job in presentation so I anticipate an RNS data-flood especially on the mineralogical, metallurgical and processing aspects to follow shortly.
AGEOS
Hi AGEOS,
Another interesting post from yourself.
And I do think you are correct in your feeling, that a lot of the significant data is being lost on people who have not got a mining background. (Me for one)
I don't know what I don't know. I have 30 years experience in Another field, and that is where I tend to invest. I too am often surprised by what I would consider basic knowledge in my field that investors don't get.
I'm pretty sure that most of the larger long term holders are knowledgeable about this market.
Maybe I should get out of here and focus on what I do understand.
Or maybe someone could post a simple version.
I suppose bias would always be a problem.
Thanks all the same.
Many thanks for your time AGEOS.
Made my Sunday.
BW Jeli
AGEOS
Can I ask you on Cosgrove at 2168 M tonnes.
Would this be the end amount in high grade TiO2 in pellet form?
TIA
BW Jeli
Think I have realised my mistake but look forward to you reply if possible.
Thanks
Thank you AGEOS for once again giving your explanations
Ageos,
Thanks for your reply so the drilling without comment was more to see the extent of the area so drilling at the boundaries confirms that they can be pretty confident they drill right up to they target area it shall be consistent levels of Ti02 found at the original drilling locations is a positive and a smart piece of information.
Think your tonnage amounts will be roundabout, seem plausible numbers so will be eager to see the next location and targeting the first 40m will certainly be the targets.
And I appreciate the understanding of the weathering factor, my assumption of climate couldn't have been further off if I tried haha
Should have went to geography!! Bunked that!
Sorry, the lone drill location with out comment you mentioned, being at the licence boundary and still consistent with current location results possessing a large area from the locations and everything being in between consistent. Lot of tonnage from A to B?
Thanks Ageos.
Great to have the technical expertise dissecting the latest news & offering detailed contribution. Given your experience & expertise, your thoughts are to be relied upon heavily.
For anyone that doesn’t know, Ageos is a former CEO of a geo-exploration company and from memory has a substantial level of interest in EEE. This may have changed since last year (correct me if I’m wrong Ageos) but his involvement here is greatly appreciated by all.
Enjoy the rest of your weekends.
ML
Thanks to all who responded.
Jeligknight: The Exploration Target tonnages are of the mineralised sandstone as mined from the opencast excavations and the TiO2 [titanium dioxide] grades are the average per tonne contained in all the constituent TiO2-containing minerals, of which titanite constitutes c67%, and Ti bearing Fe-oxides, ilmenite and rutile-group minerals c33%, at least in the initially analysed samples.
It is important to bear in mind that the Pitfield titanite has an average composition containing 36.7% TiO2, hence whilst it remains true to say that the ore may contain up to 20% titanite by mass, the average TiO2 grade of the ore is still 5.53% for the topmost 34m at both Cosgrove and Thomas.
Thanks for copying this mornings posts to ADVFN.
Thank you AGEOS
New around here, though holder for some time, looking good as momentum building nicely.
Moving nicely ahead after the large spread earlier, already had two movements up on the bid, 9.50 and now 9.70p
spread 9.70 v 10p
Lovely write up AGEOS.
https://www.youtube.com/watch?v=2p01MzsEP-Y "Right now this is the biggest thing on the planet it is literally a super giant mineral system" - 5 months ago
https://www.youtube.com/watch?v=O_EDVXAi_wY "its world class globally significant mineral system which is incredibly enriched
https://www.youtube.com/watch?v=ckh7DSqCFp8 "the implicatons of this in terms of mining costs, separation, value add are enormous" £Well, this is the largest titanium system on the planet" "
This is going to the moon. 10p is exactly that 10 small pennies.
I am sure i speak for many on here when i say we really do appreciate your information and although we dont understand in its entirety your information none the less we are very gratefull for it,many thanks to you EGEOS
That’s an eggcellent summary Bumble & great to see SB hatching a plan. It’s only a matter of time before the market stops eggnoring the potential here.
Some investors heads have been scrambled here over the last 8 weeks and I’ve personally found it eggs-haunting but all has been cleared up and sanity has prevailed in the last 10 days.
It’s sunny side up from here on in my friend.
That’s all for today, yolks!
ML
Good links IFoxx
ML
Some pure cheese from the big cheese there haha
As long he is happy 😊
GLA
The business case is growing stronger here RNS after RNS.
With also two more brokers added it will only attract more and more private and institutional buyers the coming months.
As soon as the first JORC tonnage estimates come out this will really start to blow the doors off.
Have I missed something “again”
Who are these 2 new brokers? Saracen over on ADVFN keeps mentioning them but I can’t seem to get any detailed info.
Any links or articles outlining the recent changes to brokers?
Thanks
ML
I've no idea, I heard the Australian poster from last week asking questions to Ageos and had reference to local brokers stoking interest, but that's all I can come up with.
Eager to hear
And how do people cope on ADVFN with that institutional investor guy!!?? I'm not that bad for you to end up there haha
And what's a gerbil???
Dusty, institutional Investments is simply 1 of anout 15 aliases used by the clinically insane Sheedy.
He's a lunatic, chatting endless with pseudo philosophical rhetoric with himself.
Has posted ten plus thousands of posts, all completely illogical.
Cev, I can not believe you have just posted a reply to me and a single sentence was a slanderous insult directed.
That's growth buddy, we shall continue this.
Yes he seems a headache, I simply chose this platform to avoid that carnage.
Dusty would have a field day with MF posting all day!!
And gerbil? What is that? Haha