James01: the next 10-14 days could provide game changing news and it is no coincidence the KAV technical guys are presenting next Tuesday(?).
Drilling is around 190-200m today, hopefully speeding up to 30m/d. The target zone is around 450-650m dipping 60 degrees so I think they'll try to hit dead centre at 550m for maximum DHEM contact and as JD says KAV will notify the market if visible massive sulphides present, XRF can be unreliable so don't expect grades but it will say what elements are there. The conductance reading says there's something highly concentrated and BT confirmed its unlikely to be magnetite and mentioned "500 s" although I read a paper which says up to 1000 s if mixed with sulphides, neither is close to 8200 s. One of the key questions is the thickness of any deposit and Jeremy Brett said last week they don't know at this point, 10m @ 5% Cu => 1m/t
Core photos and BT's body language will absolutely give the results away in the next two weeks. Where I do agree is results from assays, DHEM, gravity surveys will take a couple of months to confirm. Yesterday BT basically said if B1 is successful the share price will "go through the roof".
The battery is fixed and the probe is on its way back to Botswana. The winch will go to 1000m, but the hole is hot and the first probe malfunctioned. The question is whether the hole will still be open after a couple of months, we know the top part will be cased so fingers crossed
They’ve clipped the western edge and were 150m out. but was excited about finding a conductor within the magnetic body, it will give them further high priority targets.
Keith: I did some similar B1 conductor calculations last week assuming a much smaller orebody (10m width) but 5% copper, 1% Nickel, no PGM, 25% margin and then applied various discounting factors including a 3rd party offer at 10% of NPV which equated to 36p/share. Sure there's a huge discrepancy 36p vs 73p but there are too many factors in play to give any meaningful calculations and the predictions are all relative to to KAV's current price 5.5p, i.e. a large upside just on the B1 target.
Here's an article on Magnetite, its either scary or reassuring!
It says magnetite electrical conductance increases with decreasing grain size, increasing concentration and can be enhanced by sulphides but in the range 10-1000 S.
One of the aims of KSZDD001 was to find evidence of the source of the GRS and it's composition, they found blebs and disseminated chalcopyrite proving conditions did exist for mineralisation . There is magnetite and sulphides and small concentrations of the latter can enhance conductivity but you still get back to 8100 S vs 1000s for M+S so we need more theories.
Knowing nothing much about TDEM it shows they have 3D modelling between 1400-2000m depending on the distance from the surface loop which is quite handy if you recovered 350m of Proterozoic core and had to stop because drill was rated at 1000m.
Dotted Lake core 21st Oct photos, high grade gold is visible in at least two photos, the third photo's got a bit of everything and lets not forget the trench soil testing which is yards away from drill 1 found c16g/t Au which in itself is exceptional.
1) Australian listing goes live and over subscribed. PALM has 37.5% and the upcoming drills look exciting. 2) Dotted Lake, turns out the cores "already packed away" must be good if the results (non-assay) have exceeded their best expectations. To make that statement the cores will have been halved and inspected both visually and with XRF, it wouldn't be a surprise if they already have preliminary test results before the full assay results come through. 3) Obonga also "exceeding expectations". The BHP target drill is completed and the core photos from a couple of weeks ago showed at least 30m of VMS. 4) New presentation and updated website in due course.