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Afraid this will drift into the 3s over a short period of time.
Looking at 5 and below, Tin hats on
Another in the endless series of 'high grade' suggestions from porvenir. Yes, the grade is high but its up a mountain in Columbia. As usual, you are ignoring cost of extraction and political risk. Its not about grade. Its about value of mineral minus cost of extraction plus a risk factor. There are many, many 'high grade' deposits that never get mined. Of course, you know this because I, or someone else, explained that at least a dozen times and have never come back with any counter-argument. You just slink away and come back a few weeks later with another 'suggestion'.
I assume you are here again because SOLG is heading down once again and you are trying to make yourself feel better by de-ramping other stocks.
Compare that with Libero Copper's recent 1229 metres @ 0.58% Cueq. Their market cap is less than half of xtr's.
I stuck that 104m @0.24% Cueq into the drill hole calculator..... https://explorationinsights.com/drill-hole-interval-calculator/
If you subtract all the highlight intersections from the main one, you're left with 70 metres of 0.038% Cueq. Good luck mining that.
That confused me too, Andrew. I read it as meaning the resource is larger so the model needs an update - but a re-work of which model? The one they’ve been working on recently (which would be v positive) or just the one from last July when we had the 30min video with Zak (which wouldn’t be news)?
I would love to read "Confirmed 2mt plus" how long until we get this news?
F100
"Modelling continues at the project, with the Racecourse prospect indicating that it has grades and tonnes justifying a rework of the conceptual open pit."
Maybe I'm reading too much into that, but that does seem like subtext saying either
we have the 2mt or
(at the very least) an economic pit that will be wanted by majors?
Well, that's the way I'm reading it anyway :)
Assays now from just the first few holes into Ascot, confirming a further intersection of gold!
Are these results testament to the success that the how the drone mounted em is being used to overlay the IP giving the geo’s more confidence in their targeting?
Steered clear this time of using the term ‘satisfactorily,’ to refer to how modelling is coming along. This time with a much more positive and reassuring comment from CB
>> Modelling continues at the project, with the Racecourse prospect indicating that it has grades and tonnes justifying a rework of the conceptual open pit."<<
We also have confirmation of two more holes completed i.e. 50 and 51. Given that is only a week since the last drill location map was released, is that an indication that we still have two rigs on site?
Would like to get an update on the new drill pad approvals and to see a return of the 'in progress' drills on the location map.
It would also be nice to get a CB interview this time. The silence must be killing him as much as it is the rest of us!
At last going in the right direction down and out
Thanks Andy
I think it's worth remember what we are looking at here.
We have racecourse which is 1-2km away - which has already been drilled and is at least 50% bigger than the deposit that Porven mentioned, maybe 100 bigger re the amount of copper.
This is trying to explore a second porphyry system, with this hole being only the 2nd or 3rd into the porphyry as we try and find out where it is. This drill is quarter of km away from the maiden drill (35).
The gold is in hole 33, which is half a km to the east in a separate system.
As well as this XTR has:
Imminent income from Manica (maybe 1m a month) - already income from alluivials (last time I think that was about 1m).
We have Eureka - from which we are told we are producing but not much detail yet - despite this the deeper sulphides look very big indeed.
We have the other African gold projects being explorer by the Chinese.
If we take the example of oz minerals, that would be 300-400m just for racecourse. IMO it's good as it shows that oz minerals is prepared to pay up for copper at .4 to .5 % - race course is around .3 to .4 but far more bulk and tonnage and has better cheaper access, electricity, roads etc etc.
No Ben summary was there until about 3 RNS assays ago so good to see it reinstated.
Is this the first time they have included an assay summary in the RNS? Quite a useful document as an overview.
Art, you do realise that the gold in his hole, is half a km away, it's not a continuation of anything, it's a completly different system.
It looks like they missed it a touch, which is a shame, still reasonable though. I've got a feeling they knew this, which is why we have 39 next to it.
So, to paraphrase, the people who have been here for longest and have done the most research are the ones buying. Those without shares who have been here a week, are the people pontificating on assay results without any of the knowledge required to understand the context :)
Plus the 2.3 g/t Au seems a very disappointing continuation of the 15.5 g/t Au from the previous RNS - but even that didn't seem to go down too well except amongst the LTH's who seemed to find the assays created a fantastic buying opportunity. Not sure if that is how it works best, but we shall see.
Not as bad as the last assays, which were woeful, but still not exciting.
12m at 0.88% CuEq from 600m in BRDD-21-031 - was there anything of note above this, if not it is far too deep to be of much value.
104m at 0.24% CuEq from 79m in BRDD-21-038 - this includes the 2 higher grade intercepts, so even including them this is not anything to get excited about. In fact it is quite poor.
The higher grade intercepts - 8m at 1.46% CuEq from 175m in BRDD-21-038 1 and 2m at 2.3 g/t Au from 589m in BRDD-21-038 - are better grades but very short distances. Who can get excited about 2m at 2.3 g/t Au at a depth of 589 metres.
The market seems likewise unimpressed at the moment. Maybe a buying opportunity for the LTH's later.