Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Yes that’s right, but according to the original agreement it was two holes within 14 months of May 2024. This now sounds like it will be later on this summer when this hole is finished. The urgency of kobold is exciting for us all invested, and no funding concerns because they are loaded lol.
To be fair it was always the plan to drill two holes before the JV.
Also remember Kobold are already planning the second hole. Now why would they be in a rush to do that if this hole wasn’t promising?
Hi Auc, I meant thickness…But even 20 metres would be very good. 10 metres is still decent for us. From what I understand kobold found their ore shale around 1,200 to 1,450 metres in most of their holes.
Torino u say ore shale 50 or 20 meters u mean from actual thickness of the ore shale or is that distance from end of hanging wall
Thanks
It's what was expected Morwen. The nearby Konkola Deep orebody extends even deeper than that, I believe it's been drilled down to 1900m. Mingomba is also pretty deep. What kobold are aiming to do is establish if the ore shale extends further to the south and west, that area is untested. Once that's established they plan a JV to explore further, looking for more potential orebodies like Mingomba. The reality is that most of the shallow, easy to find orebodies have already been discovered. In order to meet future demand there's no choice but to go deeper.
Tell me please that I'm wrong when I say 1,350 meters seems a very deep drill to, but is this the norm?
Crucially drilling is ON-GOING
and in the final sequences above target depth.
VERY positive and exciting.
Https://portergeo.com.au/database/mineinfo-mb.asp?mineid=mn012
PorterGeoPorterGeo
Konkola, Kirilabombwe North, Kirilabombwe South, Konkola Deeps, Mingomba, Lubambe - Konkola North, Fitwaola (Zambia) and Musoshi (DRC)
Zambia
Main commodities: Cu Co
The Konkola section of the Zambian Copper Belt comprises a near continuous, NW-aligned, close to 20 km long by 2 to 4 km wide ribbon of ore within the Neoproterozoic Lower Roan Subgroup. It extends from the northern margin of the regional 'Kafue Anticline' basement block, and is down-folded, to emerge again on the rim of the Konkola basement dome to the northwest. This mineralised ribbon includes, from SE to NW, the fault isolated Fitwaola, then Kirila Bombwe South and North (previously Bancroft, also collectively known as Konkola), Konkola Deeps, Lubambe (previously Konkola North) and Musoshi. All of these deposits are within Zambia, with the exception of Musoshi, which is the continuation into the Democratic Republic of the Congo (DRC). The Lubambe and Musoshi deposits are exposed on the southeastern, eastern and northeastern rim of the Konkola Dome. The Kirila Bombwe and down dip extension, Konkola Deeps deposits occur to the SE, on the western margin of the Kirila Bombwe anticline, and are located ~20 km kilometres to the NW of the Nchanga group of mines. Fitwaola represents an overthrust synclinal enclave within basement and footwall rocks, 6 km to the SE of Kirila Bombwe South (#Location: Lubambe - 12° 17' 56"S, 27° 46' 05"E; Kirila Bombwe South - 12° 22' 45"S, 27° 49' 45"E).
Drilling since 2019 into the deep mineralised corridor that connects the Kirila Bombwe North (Konkola) and Lubambe deposits has increased it's resource tonnage and grade. This mineralised zone, previously known as Lubambe Extension, has now been renamed Mingomba. Pre- 2019 drilling had resulted in an estimated Mineral Resource of 206 Mt @ 3.69% CuTotal in this section of the deposit. Drilling of 4 deep step-out holes from the southeastern margin of the known resource during 2019-20 added 41 Mt @ 4.33% CuTotal. These holes returned the following 4 bulked intersections from depths of 1800 to 2000 m below surface: i). 19.0 m @ 4.57% Cu, 173 ppm Co; ii). 8.0 m @ 4.47% Cu, 837 ppm Co; iii). 9.9 m @ 4.39% Cu, 193 ppm Co; and iv). 11.4 m @ 3.86% Cu, 149 ppm Co. Since 2021, further drilling has confirmed the resource outlined by this broader spaced test pattern, in which mineralisation appears to be increasing in grade to the east and NE (see plans and section below). For more detail see the 'Reserves and Resources' section below (#Location: Mingomba - 12° 20' 10"S, 27° 48' 13"E).
Much more on the link
Agree this just got even more exciting. The ore shale is usually max 50 metres, but usually a lot less (normally 20 metres). So if we’re just above the zone - which is similar to where kobold found there stuff next door - we don’t have much longer to drill.
ART is full of hot air. It clearly says drilling will continue until the target horizon is reached. Why would they stop short of it when they are so close?!
Tediously slow progress. That is only 318 metres in a month, which is only just over 10 metres per day. 'Variable ground conditions' does not sound good, nor does having to change the rig (I thought they were using a new rig!). Sounds like a 50/50 chance they will reach the target horizon or else be firced to stop short due to the ground conditions. Very disappointing but somewhat typical of Patrick Cheetham.
"Further to the Company's announcement of 21 May 2024, the Company is pleased to advise that the first hole at the Konkola West Copper Project, hole number KWDD001, was recently reported by KoBold Metals Company to be at a downhole depth of 1,341m and continuing in the hanging wall sequence above the target horizon.
More recently, drilling progress has been a little slower than anticipated due to use of a new drill rig and variable ground conditions. Drilling will continue until the target horizon is reached.
No further announcement will be made until this first hole is completed but planning for a second drill hole is already underway."
This is pretty exciting, they are in the hanging wall above the ore shale and much shallower than I expected. Also planning for second hole is great news.
Time will tell. And idea re Stourman news? :)
TYM £3M MC
Are there any better ‘short term’ potential 10 baggers out there?
I’m struggling
Copper prices and land grab for copper going bonkers.
This has to re-rate surely.
JCHX closes in on Zambian copper mine deal as China tightens Africa grip
https://www.xm.com/research/markets/allNews/reuters/jchx-closes-in-on-zambian-copper-mine-deal-as-china-tightens-africa-grip-53863470
Not us but interesting …as involves Kobold
https://modernminingzambia.com/zambia-anticipates-2-3-billion-investment-from-kobold-in-major-copper-mine/
The point is, they have no idea how deep the ore shale is in that area, assuming it's there at all, that's why they are drilling, to find out and at the same time improve their AI models for future drills. Mid June can only be an estimate if they don't know the depth of the target to start with. As KoBold said in their meeting with the President, this is the first ever hole that has been drilled on the Konkola West license.
Re drill info.
TYM will take their cue from Kobold.
TYM wont delay it. News will be released when Kobold say so.
Keep Kobold sweet etc
It clearly states in the May 21st RNS
" although the company estimates that drilling of KWDD001 will continue until mid june ( and that was the 15th ) with essay results to follow after that, however drilling could take longer or be completed sooner, depending on the thickness of the stratigraphic units yet to be drilled, as well as drilling conditions.
I would guess it may have taken a day or so longer maybe, but as essay results are to follow, give it a bit of time ffs.
Fully aware that things have been dire here in the past, god knows ive been here through most of it, but give them chance to report these.
Perhaps PC will inform us all ‘when’ it has indeed been completed! Perhaps they have not finished drilling as yet.
Patience people!
Perhaps pc should think a out informing investors when drilling has been completed and not just speculating if it has or hasn’t concluded ,
PC stated in a RNS he was expecting the drill to be concluded by the 12th June. He also said it could finish before or it could go on longer.
It's same with sres . Quotes and public announcements with timeliness that never ever arrive within the quoted time frames
Why is the share price down here?
Look at what’s been RNS’d over the years and what’s been achieved… might as well been a shell company (it’d have been cheaper for all the long suffering share holders) and come out of hibernation 8/10 months ago when this winter’s agreements were negotiated… that’s why we are down here.
What is going on currently… will be transformational for the share price as well as the company if they can finally get their **** together and start penning JV’s and progress that actually happens. Historically it hasn’t been like that. This next month could be very interesting. (But I bet they are late with results info and WHEN it comes as opposed to when it’s signposted to come) which again won’t help the share price