Member Info for andmillsy

Hi Screenlearner. Useful extracts thanks.

I interpret holes 47 and 48 from newly approved drill pads and given their location I believe it provides confirmation that (at least some) MIMDAS data has been used to locate the pads which is supported by the statement from 2 Mar RNS "Racecourse porphyry swings towards a southerly strike direction as it moves towards the south and follow-up holes will be collared from drill pads located further to the west, for which approval is expected shortly from the NSW authorities"
Link to my interpretation of the old geophysical information and previously approved drill pads.
https://drive.google.com/file/d/1dQ0tBW6BXm4VUFG6GS-tDehC4rGrviYU/view?usp=sharing
Clearly it will be great to get the geo obs to provide a level of confirmation about the hypothesis of direction of the Racecourse Porphyry swinging to a Southerly strike

At Ascot I'm very keen to see the geo observations for 49, 50 and 51. Either of 50 or 51 appeared to go at a steep angle and quite deep - I would guess 51 guided by 50.

Sorry for repost - phone did some mad predictive texting updates...

Great info and discussion on Kiwara.
My understanding - Kiwara was a company sale and with several assets this was a takeover and necessitated a change in shareholder ownership and therefore suspension of trading or at least a lot of control around the trading - recently I've experienced this with Vivo Energy and Vectura.
This transaction may be different. I'm assuming it would be a sale off the BR licence EL5574 or alternatively a sale of Prospectore and its 4 licences (less favourable imho)
Other possibilities are feasible as others have mentioned in the chat. If it is one of my two suggested scenarios then I'm not clear if we would have a suspension as Xtract would not be subject to a takeover.

Iwantthatone - I saw you post after my post. I guess that puts me firmlyin the asset sale camp rather than a conspiracy theorist. I can't see another company wanting the complexity of the Moz gold JVs even though I do see them as being worth several pence of our share price and a solid, relatively derisked, revenue stream and with start up a matter of weeks not months away.
Hopefully we're closer to finding out...

Great info and discussion on Kiwara.
My understanding - Kiwara was a company sale and with several assets this was a talented b andnecessitated a change in shareholder ownership and therefore suspension of trading or at least a lot of control around the trading - recently I've experienced this with Vivo Energy and Vectura.
This transaction may be different. I'm assuming it would be a sale off the BR licence EL5574 or alternatively a sale of Prospectore and its 4 licences (less favourable imho)
Other possibilities are feasible as others have mentioned in the chat. If it is one of my two suggested scenarios then I'm not clear if we would have a suspension as Xtract would not be subject to a takeover.

All the papers presented at Mines and Wines are available on line.
I haven't found anything immediately relevant, different story if Quinton had presented his paper but as we know he pulled out of the event, probably due to work pressure !
Posting the link as it may be useful for those with more geological knowledge than me. There are papers from Newcrest, Alkane, Inflection and Sandfire amongst others.
https://smedg.org.au/mines-wines-papers-2022-discoveries-in-the-tasmanides/

Snooz alternatively YCA sell on mid term and buy on spot with the funds raised. They are paying to store the lbs anyway ?
PS I would love if you could implement the NAV tracker just suggested

Howezap thanks for posting the geophysical survey from last year.
I have done a compare with the latest phase 2 drill map which is attached and tried to overlay latest holes on the geophysical survey
https://drive.google.com/file/d/1KOv9f8GEDYkIwUo6lwNtqsYSYjCBd8Uv/view?usp=sharing

The geophysical survey map had purple dots indicating the approved drill pad locations for phase 2.

There would still appear to be 3 approved locations not yet drilled which I have marked with a "?"

I have added purple stars on the map indicate the presumably new approved drill pad locations as referenced in my post yesterday.

PS if anyone else is having issues with filters then check you haven't made my error of spelling it with a silent P

Howezap
Thanks for your post.
I had been looking at something similar following another email received today from NSW TMS about the case id which was approved a few weeks ago EAO71 on the BR licence EL5574.

I have been told this was approval to undertake "prospecting" activities in two restricted areas namely lots 93 and 97 in the Vulcan State Forest.

Having attempted to join up a couple of maps it appears to me that:
- holes 44, 45 and 46 were in lot 93 and
- hole 49 was in lot 97.
So it confirms for me that drill approvals have been received and this was an area they were very keen to drill at Ascot likely influenced by the yet to be published MIMDAS survey.
Here is a link to a map from Minview which I've annotated using holes 38 and 39 as reference.

Another realisation during the exercise of comparing maps is that the distance from 49 to 31 is 1km.
Ascot looking good.
https://drive.google.com/file/d/1r2gdNy2dLxklQL2shAGtLM-W0Rmjhprx/view?usp=drivesdk

Art - I see Steve also answered whilst I was writing this. I went back one RNS further in my answer...

Highly likely drilling still going on but you are correct that they no longer show what is in progress and we don't have a published plan.
It has been indicated in interviews that drilling could be completed by end of this month but many on the board think that it may go longer.
To get an indication of progress perhaps take a look at the last 3 published drill maps

1. April 6 RNS showed just hole 47 in progress
https://www.rns-pdf.londonstockexchange.com/rns/3989H_1-2022-4-5.pdf

2. May 9 RNS showed newly completed holes 47 (714.6m) , 48 (969.6m) and 49 (915.5m) all from different pads

3. May 17 RNS showed newly completed holes 50 (673.8m) and 51 (555.3m) from the same pad.

I interpret this as we have been running with one drill rig.

We are still waiting geo observations from the completed holes 47 - 51

Going back a couple of weeks I had identified the CNT (Combined Native Title) application case id which appeared on the Bushranger Exploration Licence EL5574 on the NSW TMS system. This morning I received an email back from the NSW TMS Case Officer explaining this case id has now been "nullified" as it shouldn't have in fact been created !
So mystery solved as there was in fact no mystery ...

Agreed Steve and linking it to the hole 38 drill cross section in yesterday RNS we need to understand more about the vertical structures which they touched. Hopefully 39 will reveal more.
https://www.rns-pdf.londonstockexchange.com/rns/7617L_2-2022-5-17.pdf

Howezap
I came across this on Twitter this morning which discusses the economics of the muck shifting. You or others may find it of interest. There are several posts in the thread.
https://twitter.com/NeilRingdahl/status/1526444705734696961?s=20&t=hVaUwxE9i-ZbGbseQZeP6A

No Ben summary was there until about 3 RNS assays ago so good to see it reinstated.

Formation of the Macquarie Arc. Excellent video for a non geologist like me. Porphyries discussed from about 22 min not specific about Racecourse but quite interesting
https://youtu.be/duC_jr1iPp0
Hopefully normal service will be resumed shortly...

Surprising or just surprising for me ?

Issue of new shares upon exercise of warrants: Pursuant to the exercise of warrants at a price of 0.16p per share in terms of the fundraising announced on 19 June 2020 the Company is issuing a total of 11,875,000 fully paid ordinary shares of 0.002p each in the Company (the "New Ordinary Shares"). The New Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.

Hi Steve useful update - thanks.
I can't remember if I have posted this before but the following is interesting regarding the EL8585 potential from the licence renewal application from last year. I doubt anything has happened on execution of this however which is understandable.
"Reconaissance level exploration is planned across the entire EL8585 area but will especially concentrate on areas that contain historic mineral occurrences like the Summerhill Copper Mine. In areas like this, we believe there is a possibility of finding extensions to the known mineralisation at depth, using modern geophysical surveying techniques such as Induced Polarisation surveys; similar to what we have achieved at the Racecourse Prospect.
Another area of interest is the West Rockley Prospect, which has a very similar geological setting to the Summerhill Copper Mine but does not seem to have been explored previously.
The Crosiers Reef Prospect should also be considered for epithermal style gold mineralisation exploration.
Reconnaissance Level exploration will include a site visit, mapping, desktop magnetic interpretation and rockchip sampling if outcrop exists."
Full document is attached.
https://drive.google.com/file/d/1WFef3uPpHqnUFK4Eu-AFpv6x607mvwH3/view?usp=sharing

Following yesterdays shenanigans I've updated the drill tracker to see what is still outstanding. There may be errors - you can leave a comment on the PDF and I'll update
https://drive.google.com/file/d/11GQJqx5cUJKOb3lT6rcd5xRL1QNJ8217/view?usp=sharing
Best viewed in conjunction with the latest drill map from yesterdays RNS
https://www.rns-pdf.londonstockexchange.com/rns/8609K_1-2022-5-9.pdf

Thank you Iceberg
I would very much like to get a quick follow up RNS on the completion of 47, 48 and 49 with geo observations. Assuming these were guided by new MIMDAS and supported by drill permits then there could be a plenty of news contained in such an RNS.

47 and 48 may have been trying to prove a theory stated on the observations for 41
"Drill hole BRDD-21-041, drilled at a shallower angle from the same pad as drill hole BRDD-21-032 (see announcement dated 17th December 2021), the hole aimed to test for potential mineralisation above drill hole 32, which intersected significant lengths of porphyritic alteration. The hole was drilled at -55 degrees to the WSW, and completed at a depth of 691.9m. The hole intersected strongly altered volcanics with intervals of weak to moderate chalcopyrite mineralisation from 135m to 631m depth, suggesting that stronger mineralisation could be situated further to the west."

49 may be extending strike further South in Ascot from 38 and 39

Smoke and mirrors
https://www.lse.co.uk/profiles/art123/?page=14
based on speed of new posts from him you may need to change 14 to 15 look at XTR relevant ones and you'll get my drift.

Great analysis Steve - thanks
Please note from last map we now have 47 complete and new completed holes shown as 48 and 49 each 900m+ and 49 target into Ascot.
Shame the historical assay table from previous RNS has disappeared on this one

Here's 10 possible news items with votes from the other platform. 10 is max number of options. If an RNS arrives it could be left field - change in director, new acquisition or a blast from the past with Eureka etc
Anyway here's the vote at 10pm

So I guess we're hoping for early doors RNS tomorrow? What will it be?
Anonymous Poll

15% Africa gold production and income
4% Africa copper production and income
15% Africa Fair Bride news
23% Australia MIMDAS survey results
8% Australia drill approvals and/or drill
8% Australia drill completion and observations
8% Australia drill assays and/or metalurgical test results
4% Australia updated resource model
11% Australia approach to/from AA triggered - decision to mine or 2mt
4% TR1
26 votes