PYX Resources: Achieving volume and diversification milestones. Watch the video here.
100% owned by BOD and is not part of the farm in the agreement reached with Diamexstrat Botswana Pty Ltd ("DESB")
"KX36 is a 3.5Ha kimberlite pipe, discovered by Sekaka, in the Kalahari. .......
Sekaka has undertaken extensive exploration work on KX36, including extensive core and Large Diameter Drilling ('LDD'). There is a historic SAMREC compliant Indicated Resource of 17.9 million tonnes at 35 cpht, and an Inferred Resource of 6.7 million tonnes at 36 cpht, estimated for the pipe by Z-Star in 2016.
Modelling these grade estimates suggests overall grades of between 57 cpht and 76 cpht.
The estimated diamond value from the LDD is $65/ct, with an upside range of between $97/ct and $107/ct, all assuming a +1.15mm Bottom Cut-Off ('BCOS') or +3 DTC diamond sieve. This estimate is out of date with prices much higher now.
We also own a recently constructed, fit-for-purpose bulk sampling plant on site. The sampling plant includes crushing, scrubbing, dense media separation circuits and x-ray recovery modules within a secured area.
We have a little GEM here. Some exceptional assets. A management who is best in the field with a proven explorer for diamonds in JC.
In Thorny River, we have a commercial asset I believe. What is exciting is the fact that these blows or pipes are part of an interlocking dyke system that is over 20 km in length. We are proving up this initial strike at the moment but how much more area we hold to develop?
Then near term, we have the acquisition from Petra with a large proven pipe ready and waiting to be mined with infrastructure and plant in place to take this to near full production.
Then yesterday we saw the usual suspects selling their meagre holding in desperation to make a few pence when the real profit will be seen by the real investors who have seen the potential in this GEM of a company.
I will be holding and adding over the medium term.
Yes, pipes do not occur in isolation. I have been in Bluerock Diamonds for some time and they are mining a cluster of 5 at the moment all within a couple of sq miles.
This KX36 could just be the start of a resource in the area. Also, the diamond price for the KX35 is modest as I believe when the calc was made the price was depressed and only a limited sample tested.
JC has arrived. Could be some interesting tweets this week.
https://twitter.com/JAHC1/status/1393784520445464577
Kintore
My understanding of the present drilling campaign was to drill 6 holes 200 meters away from River Pipe. As they did this it became obvious that the kimberlite found was open towards River pipe. I believe initially they were looking at a separate anomaly maybe connected with a dyke.
However it looks as though the two may be one. That was the reason behind an on the hoof decision to drill as near to the river pipe as the ground work would allow. The 100 meters between the last drill and river pipe needs some ground work before drills are put in the area. I think a call for the bulldozer is needed again.
This is what I read from the situation but I am no geologist.
Mike some people who arrive on a new share just like to come over as a big boy. I have always appreciated your posts and a number of other knowledgeable souls.
I am a LTH and have seen this happen a number of times on here and other shares.
Please keep up the good work and I am sure we will all be rewarded for our patience.