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Legacy minerals, who are exploring just to the north of Bushranger. Their Rockley license is adjacent to BR’s other tenements EL8585 and EL8305. In ‘ 22 they conducted EM airborne and radio geophys surveys at Rockley and results were returned in June with very positive indications of potential porphyry copper gold targets. Rockley is situated along the same major dog fault line that runs up through Racecourse.
>>Higher grade copper assays (from rock samples) occur in focussed zones associated with 3rd order faults of the parent Native Dog Fault. These fault zones may have potentially tapped a mineralised
intrusion at depth.
There is also supporting evidence of widespread copper/gold from historic artisanal high grade mines with grading up to 21%Cu
https://investorhub.legacyminerals.com.au/4178158
The point is, if Rockley Gulgong sub belt can be highlighted to show greater district potential, then that can only go in favour of Bushranger’s desirability for a major to get a foothold within a ‘fertile’ localised region with also adding further interest to the remaining untested BR licences, that lie along the Native Dog Fault. With these results indicating a potential for further shear zone hosted copper gold systems their too.
Possibly very large district potential....
Northparks / Cadia / Racecourse Corridor
Map showing my annotation and straight line link between Northparks / Cadia / Racecourse
The straight line intersection maybe irrelevant, but the intersection seems more than coincidence imo
https://i.imgur.com/LATqHE0.jpg
Good point Andrew, potential extends from regional successes along the Lachlan Belt which has seen increased activities in exploration throughout this region and NSW generally all the way down to the potential within the BR licenses and more so at Racecourse.
There is still the western lobe anomaly south of RC from historical (old) geophys.
This anomaly was not targeted for IP survey and subsequent drilling and still remains untested.
Hole 48 with a NE orientation away from the anomaly was the southern most to test extremities of RC mineralisation.
Any ideas, thoughts or recollection why not targeted.
Other than was maybe one to put in the sweetie bag that tbh is more like a bulk bag now.
?https://www.rns-pdf.londonstockexchange.com/rns/8649O_3-2021-10-12.pdf
After quick check the new IP that was done across southern extent of RC and across ascot may have included this western lobe anomaly as the 6 lines completed totalled 17 linear metres so roughly 2.5km across so is likely covered both ‘ sides of the saddle’ By then though ascot was already identified so op’s were focused then on potentially joining up with RC.
These most recent IP survey results have not been shared with the market yet.
Just a reminder of what’s in that sweetie bag. Got to be more than a 10p pick n mix
There is the western lobe identified in the historic geophysics posted earlier.
The solitary borehole 33 drilled into an eastern outlying anomaly and see it hit 15.5g/t over 2m has great potential and assay summary said it warranted follow up drilling to test strike length and dip.
Holes 38&39 identified 2 near vertical mineralised gold structures with indications they increase in width and grade at depth. Also warranted further drill testing.
Footrot saw two boreholes that indicated was close to a further mineralised porphyry
Early indications of deeper porphyry under RC
The new geophysics identified two ‘new areas’ of interest and also significantly identified a fault up to the north east of RC but here, maybe will see some more drilling to increase resource there.
It has been this later round of geophys that appears to have caused a stir in the company with the extra anomalies identified but yet still not reported. Would give extra substance to a new BR presentation after updated conceptual model is released.
Anything else to pop in the bag?
>>> Early indications of deeper porphyry under RC <
To back up this comment.
?From hole 16 19th nov RNS
Elevated gold values (40m @ 0.23g/t Au from 596m) below the main Racecourse porphyry body, along with a coincident IP anomaly, suggest that a secondary porphyry body may occur at depth below the main Central Porphyry Intrusion.
Posted this a year ago!! but have made some up to date changes. These are the facts that are the foundation of BR and one reason why Xtr is investable. The economic assessment of the resource will hopefully now be the deciding factor that will heighten interest in the project going forward. ??Legislation changes across the globe are driving the switch from fossil fuels to renewable energy and electrification of the planet of which copper is central to. ?The need for more copper that will see unprecedented demand for a generation that will drive copper prices up beyond all time highs. Which incidentally, if you take into account the previous high of $4.62 per lb in 2011 the inflation adjusted price will be over $6 per lb to reach that same level. ?Bushranger is in the Lachlan transfer zone in NSW, it hosts world-class porphyry copper-gold deposits such as Cadia-Ridgeway. ?There are similarities in porphry deposits across the belt. ?Porphyry are generally found clustered and not isolated. If one is found to be mineralised in a cluster, they will generally all be. ?There is evidence bushranger is a multi-mineralised porphry system like cadia ridgeway. ?Racecourse deposit is unique, its dip is inclined and shallow to surface, so more copper will be accessible from open pit mining. Ascot is looking to be amenable to be open pitable too. ?There are other open pit mines throughout the region. ?The region is not ecologically or environmentally sensitive.
There are no indigenous disputes over land rights. ?Grades are typical of low grade high tonnage porphyry with a higher grade crown. ?An Australian government that has will actively support copper mining in one of the most politically stable and safest mining jurisdictions in the world. ?A high voltage power line runs through the area. Water can be diverted from a nearby dam. Major road and rail networks nearby. Large city with port and towns nearby that will be supportive of a workforce with their expertise and experience in a mining nation. ?An experienced management team in Jeremy Reid and Dr Quentin Hills to bring the resource to the global market. ?A chairman that has the experience in bringing to market and more importantly selling.
Further project development paid for from income from producing assets. ?Xtract already have a buyer that has first refusal.
Roll on from mid Feb when earliest reporting window is up after CB’s recent share purchase. When updated conceptual study lands to ‘hopefully’ lift the lid on this abysmal share price.
Ignore the question marks edited off site
"These are the facts that are the foundation of BR and one reason why Xtr is investable."
I think you outlined MANY reasons it is investable ...
Thanks for the repost. Maybe that should be posted every Monday morning !!
Excellent work howezap. The person currently shouting the loudest about XTR from the rooftops is writing in code and getting on everyone's nerves. So we need quality reminders like this to drown out the nonsense. Only comment if planning to do it often going forward - bullet points might be easier to read for those checking in briefly...
Thanks chaps, it certainly made sense to repost the basic facts surrounding BR. This has been a long ride so far and for what we now know probably looking quite normal timescales for a junior to get it to where it is now despite all the hyperbole from CB. In his defence he has prob only done it stimulate interest and try to keep what are, in general, impatient investors invested. Investors do come and go and it’s not easy for the new arrivals to get to the bottom of the facts from quality research shared over the past couple of years. these projects clearly do take years to develop and early clues have always been there. This was RNS’d 15 months ago!
Drilling and license update
13th Oct ‘21
>> It is also comforting to have the exploration licence extension until June 2024. This is a significant amount of time for us to continue our exploration and feasibility study programmes, and take the project to the next stages."
Clear indication of what the company have been working toward all along. And are still working toward where a PFS is concerned.
>>>Clear indication of what the company have been working toward all along. And are still working toward where a PFS is concerned.
The JORC resource statements just quantify a resource and give the market an indication of scale of project. A JORC is not a validation of any kind toward value of a resource. The market, and more importantly, a potential buyer can confidently determine a value from the economic assumptions at Pre Feasibility study level of which Xtract will now be working toward once the impending updated conceptual study determines there is scope to continue to define the resource further. Then onto PFS.
Commonly the 3 main reasons you would do PFS is firstly, as a basis to commit to a large programme or development, secondly to provide a justification for proceeding to a final feasibility study, or, to attract a buyer, JV etc.
Projects are sold with just a scoping study, and can also be sold without any form of study being done. As BR has the inherited buy back agreement attached, a PFS will be a requirement to support the ‘Decision to mine’ to satisfy AA with the hard numbers that are backed up by the ‘greater’ geological confidence in the resource that a PFS is based on. ?
I believe CB has done a great job in keeping many investors (I include myself) hooked with his previous approach, but it will not wash with investors again.
It’s time for a more serious approach with greater transparency from CB if the project is (I’m sure it will do) continue through the next phase and attract new investors.
Good post.
At least it’s not in code.
Russ Ian Girl seems to have gone !
Never understood the need for having multiple accounts on LSE unless you are playing games or have weird intentions/trying to manipulate. Was it father ted /porv who had multiple accounts? The guy who claimed porphyries halfway up the Andes might be a better investment. He did say he'd come back to compare fortunes. Wonder how his predictions have gone..
Writing in code is ridiculous and just strange. Let's get back to normality.
Positive day again but very quiet here.
This share should never have gone under 2.5p imho.. So i'll wake up here when it goes back above 2.5p again.. and expect i'll post somewhat regularly thereafter..
it's always darkest before the dawn (that wasn't code btw)
Those who had to pull out money to pay tax bill have done so perhaps? Maybe we can rise now a little, please...
Showing +0.20p on ii. Hoping start of recovery albeit a cautious one.
On the subject of the license extension, monday @13.18 this was quoted from respected LTH Captainbob, who attended AGM in ‘21 referring to CB. Not particularly significant, but still worth sharing.
>>> At AGM he again talked about extension to 2024 and ‘beyond being possible,’ with comment, “if of course we are still the owners,”
A further comment from that AGM that could go some way to dispel some of the concerns that have been raised previously that the company should not be taking on any further projects until BR is sold.
>>> They also mentioned a few smaller projects in Zambia that they are looking to progress, (also further exploration in Manica, as most is untested, and area very fertile with gold, they have several targets,) to increase income for further drilling programs if required, but saying these in themselves would be funded from projected cash flow, and ‘only’ when can be done without detracting from Bushranger requirements.
If BR is being prioritised, there is no reason to suggest it would not continue to be, over further Manica drilling, dependant on treasury. So hopefully any further raise may not come. It will be dependant on wether FairBride is now or will soon be operating within its targeted parameters