RE: Allenby Capital Initiation Note on Rockfire, 1Q 20203 Nov 2021 12:03
oilmanmike
Isnt that what Allenby Capital broker initiation note and later note of Sep 2021 is saying + what Mr David Price, CEO of Rockfire said in the most recent RNS & the short video?
I tend to be careful NOT to jump BEFORE the NEXT DEEPER DRILLING IS DONE and assays comes out. SP Angel reported on the latest Rockfire RNS and they said it has to be CONFIRMED by assay results.
One can say anything but in ALL projects, UNTIL THE DRILL HITS, cores come out and ASSAYS come out, it is CONJECTURE at this stage and I keep to accepted practice of the industry and regulators etc. One has to be CAREFUL in not jumping with NO RESULTS of drilling/assays for the deeper BEYOND 500M.
However, in the past, Solgold *s Dr Rochlach produced a conceptual study and they could tell that the potential was for 1bn tonnes and later 1-2bn tonnes. In the end, the MRE #3 came out to be some 2.65bn with both a higher grade core and the general ore body. Dr Rochlach worked on major Tier 1 deposits and hence, his geological hypothesis came out correct thus far as HISTORY illustrates. However, most co*s now NO longer produce conceptual studies of this type given Solgold is also dual listed in Canada where the rules are more stringent and this INCLUDES making cals without A DRILL GOING DOWN etc?
So, at this stage, its is rather early to be doing any CALS given that one does NOT KNOW the true extent of the STRIKE BEYOND 400M DRILLING by Carpentaria in the 1970*s. A/c to the Rockfire presentation, it is still open and therefore Allenby is quite spot on to comment on the potential size but no cals etc.
I think all MINING PROFESSIONALS know this and to say otherwise may NOT BE CORRECT given there is no geological software used or an experience geo hired by shareholders.
SO, YOUR HYPOTHESIS OF DOUBLE ie 35Mt @0.35% cu eq [Carpentaria non-JORC estimate] is NOT SUPPORTED by drilling results OR ASSAYS which SP Angel stated is needed.
Hence, why I say, that in a private chat group, there is NO transparency as on an OPEN forum where the more experienced can provide checks & balances.
Certainly, stating this and that is OUTSIDE the Canadian regulatory rules WITH NO DRILL DONE beyond 500m at Rockfire*s Copperhead.
So, the hypothsis is NOT SUPPORTED BY LEAP FROG or any other geo software modelling.
How can there be modelling at this stage of the potential deeper PORPHYRY when NO DRILL has ever hit beyond 500m or 300m in the days of Carpentaria from quick reading only?
Many here are seasoned mining investors and therefore, one follows the conservative and safe
procedure.
For reference, there is NOT EVEN ONE HOLE DRILLED BEYOND 500M and therefore,
NO one can tell 100% what the result will show and what the assays will say although geophysics will help. The data is not very detailed and hence one awaits Mr Price.
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