The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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There are only two proposed mineralisation styles.
Style 1. Noril'sk-Talnahk. Hot magma has intruded through pre-existing sulphur-rich sediments, via fracture zones, forming keel & gullwing structures. As the liquid magma cools, the absorbed sulphur combines with metals in the magma, and causes metal sulphides to coalesce at the base of the keels, at the mouths of feeder zones, and sometimes at the base of the gullwings where they meet the keel. Likely minerals - Cu, Ni, PGEs. Location - all Karoo-age gabbros, incl areas A, B, C, 30km 'tail', KSZ south.
Style 2. IOCG. Hot mineralised aqueous fluids have passed up through existing rock without displacing it, depositing the minerals as the fluid cools, primarily in brecciated sections. The existing rock is altered by heat and pressure (metamorphosed) but remains in position. Likely minerals - Fe as magnetite or haematite, Cu, Au, possibly PGEs, Co, V, U. Location - at depth in Great Red Spot.
Is there a single KSZ model when they’ve found 2 different mineralisation styles and suspect GRS is a third style?
That makes complete sense Keith. If only we could get the same quality of communication from KAV everyone would be a lot less jittery!
JP2K & others. The area A & B data are all part of the revised KSZ model, which will be presented in its entirety. I believe that it is taking longer than expected for a good reason. The immediately pre-drill B1 supposition (of the B1 target being within a cross-formational injection of magma coming up a structural weakness created way back in Proterozoic times) did not entirely match the original keel & gull wings Noril'sk model. The post-drill identification of two, or even multiple, smaller orebodies is reverting to the original model of a vertical feeder dyke and keel deposits. It is very important that KAV confirms that their model replicates reality. We know that further TDEM was required to get an accurate as possible 3D image of the B1 target zone. It is vital to get this right prior to further drilling - another drill that misses the target would be a PR & share price disaster.
I suspect that a couple of TDEMs were done & interpreted, followed by a couple more from different directions/angles. These results are being incorporated into the updated model. It would be plain daft to release a new model that does not take into account the latest readings on your key identified mineralised zone. We need to be a little more patient - I expect this will be released next month rather than May.
The completion of the KSZ model, and results from Ditau, will both determine the future drilling schedule. Even if drilling at the KSZ does not resume immediately after the 6 holes at Ditau, further TDEM will be done over the 30km 'tail' on the KSZ, and possibly also KSZ South, to build up a target inventory.
Everyone (including all at KAV) recognises the importance of positive identification of mineralisation at B1, all the more reason to get it absolutely right. If a few extra weeks are needed, that's a good investment of time.
According to BT the drill results in isolation are not particularly meaningful especially considering that they missed the target. I can understand this and my assumption was that these would be included in the exploration model once it is released. Lets see if this actually happens. Otherwise maybe those with a direct line into BT (F79 / Des) can get some kind of explanation from him.
GRS IOCG whilst important is a bit of a smokescreen. WTF are the results for Area A, & Area B ?
We can't even get a drill plan for the rest of the year.
Per the RNS of 9th May KAV we’re due “to present the GRS IOCG exploration model to shareholders within the next week” which presumably is by close of business today. Haven’t see anything yet so presumably something later today. Maybe an end day RNS?
Anyone have any idea what we can expect this to be and if it will indeed happen today?