RE: Another Interview with CB29 May 2021 17:59
Colins previous comments from interview were that between 16-22,000m of infill drilling will be needed to confirm the deposit (ready for JORC compliance.) The intention being to drill some test holes at Footrot although he previously stated was not actually budgeted for within phase 2 but the hope was to do some test holes there.
This was prior to the very encouraging IP survey results which had shown racecourse deposit alone, to be even bigger than previously thought. Now with the talk from Colin, insisting they do some testing on the other side of the saddle shown up on latest IP survey and doing some reconnaissance holes within the 20,000m of available drilling. So very much doubt now the ability to get racecourse JORC compliant within phase 2 budget.
Seems very likely a 3rd drill phase will be required to delineate and infill drill ‘IF’ the reconnaissance holes to the east are proven to be in mineralisation. As really doubt 20,000m for phase 2 will be any where near enough to realise, potentially, the whole saddle if it is to be.
This is of course bitter sweet, as monies will have to be raised wether it be from a further raise or from revenue coming online from other assets later in the year, and likely any deal taking longer to come to fruition. But, the upside is “my god this is looking to be a huge deposit alone” being considerably bigger than target.
That’s without now doing any reconnaissance drill holes at Footrot, which would hope that will be explored to its full potential too. As for the other isolated anomalous targets??
Very impressed with the appointment of the geo’s with them taking lead rolls in project going forward, allowing Colin to step back. I wasn’t far off when I said management structure will likely change as this grows. Have a lot more confidence now that we have two professionals that are dedicated to the project which is seemingly getting bigger and bigger.
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