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------------RACECOURSE-BUSHRANGER, NSW, AUSTRALIA: WHAT COULD BE LEGENDARY?----

Stevemocal: Yes, that is the article written by the 3 co-discoverers of CADIA-RIDGEWAY. I had posted the link before as well as all the other links but it may be that no one took any notice even from the beginning PRIOR to the drilling. Yes, for that reason, I RESERVED judgement ie that it will take a bit of unlocking and the geological complexity. The link you just provided elucidates my earlier post.

I tend to follow the story to the VERY END of a potential porphyry like at XTR or Alpala.

To this end, I have hopes that Racecourse-Bushranger [note Bushranger and not just Racecourse] will be a LEGENDARY prospect in time to come, be it under XTR or another co.

I will watch as the story unfolds.

News, Thur 27 May 2021.

Stevemocal
John Cornford in his article today mentioned SIZE from recall. That is something still NOT well understood about porphyries.

Colin Bird, Executive Chairman, XTR {26 May 2021 RNS]: "Our objective is to define an INTERNATIONALLY significant mineral resource."

XTR 26 May 2021 RNS: " 2 . 5 KM OF STRIKE LENGTH inc 800m NW."
-----
My comment:
I am assuming that this is the new STRIKE LENGTH which includes the earlier mineral resource area of around 1km strike Given it is open from recall, there may be more to come once they have reached the 2.5km testing if so. That is what BODA is doing ie doing bit by bit.

Given that Racecourse-Bushranger is closer to Newcrest*s Cadia-Ridgeway, it is NOT surprising that the grade for their 1st open pit at Cadia has come in EXACTLY THE SAME FOR THE CU GRADE at XTR. After all, its the same age and Doug Menzies has said that Bushranger has the maturity [para phrase]. Cadia-Ridgeway is complex in its geology and therefore, it was the unlocking of Ridgeway that provided the higher grade deposit which was found AFTER mineralisation had ended. In the case of BODA, they have recently drilled the higher grade stated by Mr Read to be 0.7% cu. This is the HIGHER GRADE ZONE of their deposit and NOT necessarily the HIGH GRADE DEPOSIT as in Ridgeway? If people saw one of the results they might have had a ...because there was also a 0.10% grade at BODA [set of the higher grades].

The story of RACECOURSE-BUSHRANGER [XTR] will unfold but whether it will be XTR or others that will undertake this task, one is NOT sure at this point.

One has to study Cadia-Ridgeway more closely but unfortunately, one will need more data from the archives. An expert like Dr John Holiday [1 of 3 co-discoverers at Cadia-Ridgeway] will be more nuanced. WHICH PART OF CADIA-RIDGEWAY REPLICATES AT BUSHRANGER, one cant tell at this stage until some test drill holes are done. Also, the old GEOPHYSICS done by Tooday etc would have been insightful to this current drill. The NEW GEOPHYSICS will be also tested by the new drill holes to come. So, hopefully, the GEOPHYSICS will reveal more. However, as said in the academic report, CADIA-RIDGEWAY DID NOT ALWAYS CONFORM to the technical data and they had to RE-THINK as in Ridgeway. SO, UNLOCKING RACECOURSE-BUSHRANGER will be one of interest.

Thur, 27 May 2021. DYOR

If the link does not work, then try https://masterinvestor.co.uk/author/john-cornford/ 27 May 2021

"And as usual, it is accompanied by jitters among some holders who MISREAD DRILL ASSAY RESULTS. Assay results have taken 3 months due to high demand."

---
So, that was what happened and quite usual for junior mining co ie upon an RNS relating to assay results, there is reaction as above. The rest is too long to copy.

Link: https://masternestor.co.uk/equities/johns-mining-journal-galantas-kefi-xtract-and-more/
With thanks to schlemiel for the link today, Thur, 27 May 2021

XTR RNS RECENTLY ON "OPEN-PIT" {May 2021}
After thinking further, I came to the conclusion that the INDEPENDENT STUDY/REPORT was akin to that of which Laurence Read commissioned for Colin Bird*s Mankayan. The elements were to see the 3 different PRODUCTION scenarios, price of copper/gold, capex etc. However, will the XTR Racecourse OPEN PIT REPORT from an independent firm be the same, one will have to wait to see given that most reports give out the various elements. It was stated in the said XTR RNS what the report was going to feature on.

From today*s presentation, Wed, 26 May 2021, Mr Read, Director of XTR [Former Head of Exploration BHP Australia / Africa] did elucidate more on the AA trigger.

So, from logic part of that will mean that an INDPENDENT REPORT will have to be shown at that point to show to AA at some point to illustrate the preliminary economic scenarioS of Racecourse and maybe even Footrot?

I didnt want to say as folks may have not liked it given the mood prevalent then.

However, what the Colin Bird, Jeremy Read & Dr Quinton pointed out helps to answer basics on grades in general and in particular etc.

Given the DISTRICT POTENTIAL as pointed out from the beginning from the data, it is now a matter of drilling etc and using the geophysics etc to look for the higher grade zones as pointed out by Mr Read. That is norm?

On reflection, that was the reason why the board may have thought it would be best to wait for the IP and the report but given folks Questions etc, the presentation answers some of the basics which is common to all porphyries and also in particular to the Lachlan Fold, NSW, Australia.

News, Wed 26 May 2021
DYOR. ALL HISTORICAL NOW.

EVIDENCE-PROOF:

From Xtract Resources Bushranger Presentation Apr 2020
Link: https://xtractresources.com/wp-content/uploads/Bushranger-Summary_Apr_2020.pdf

"Pg 3:
Multiple IP, Magnetics and Geochemical FEATURES indicate the project potential to HOST a CLUSTER of copper-gold porphyry DEPOSITS S I M I L A R to C A D I A -R I D G E W A Y."

Comment:
Today, one hears from Jeremy Read, Former Head of Exploration BHP Australia/Africa talking about Racecourse and Cadia-Ridgeway. From a recent study, it was shown that around 115 co*s studied indicate their reserves [copper] INCREASED due to lowering the CUT-OFF from 0.4% cu to 0.25% Cu. Dr Quinton mentioned 0.4% copper to 0.26% cu copper. This is from the Xtract Resources Bushranger website I quoted in my last post ie "CADIA RIDGEWAY 3.5Bt @ 0. 2 6 % cu and 0.49g/t au."

Good to hear from the team at XTR confirming and saying the same things they said PRIOR to the Racecourse, Bushranger XTR drilling @ Dec 2020 [late].

Wed, 26 May 2021
4.3p-4.4p

EVIDENCE-PROOF:
From Xtract Resource Bushranger website:
"The Racecourse deposit is HOSTED within the LACHLAN TRANSVERSE ZONE, an important structure known to have CONTROLLED the EMPLACEMENT of the INTRUSIONS hosting both CADIA-RIDGEWAY & NORTH PARKES MINES."

"The intrusions hosting the RACECOURSE deposit is the SAME A G E as the giant CADIA-RIDEWAY deposit to the West."

Link: https://xtractresurces.com/bushranger-project/

The above was posted on this forum BEFORE the drilling of Racecourse given that the info was there from the beginning. Later Menzies, the specialist commented on the Racecourse-Cadia Ridgeway maturity situation etc.

Wed 26 May 2021

Highlights:
Dr Quinton: AVERAGE GRADES 0.4% cu to 0.26% cu copper.
Later, asked about 5% copper -Answer, cant compare to others.

Jeremy Read, Former Head of Exploration, BHP Australia/Afrrica:
Halo 2.5km.
Zak: North Parkes?
Answer: C A D I A R I D G E WAY
BODA results 0.25% cu eq , 0.3 % cu eq etc. Recent drilling higher grade 1105 @0.75%.
Racecourse COMPARABLE to BODA.
Then Footrot-AA drilled.
IP Anomaly-margins higher grade [AA]. AWAITING NEW IP.

"S I M I L A R TO C A D I A - R I D G E W A Y - more porphyry to add to RACECOURSE?"
"Early days. " ie looking for HIGHER GRADE Z O N E S."

Dr Quinton explained the details of what they were doing and aiming for. Mr Read explained about the AA trigger of 2Mt etc.

My Comment:
Everything that was discussed and posted FROM THE BEGINNING on this XTR forum on Racecourse and from the Tooday IP info.

News, Wed 26 May 2021
P.S. Next Qtr 2022 per Zak*s closing?

XTR RNS, Wed, 26 May 2021
R A C E C O U R S E
Assay Results for 2 Holes [2/3]

Appears to have come in on the nose with Cadia @0.19% cu and 0.2% Cu EQUIVALENT [former] as posted much earlier?

From Rockfire Resources website :
Copper Head
Copper Dome
Queensland, Australia. [Porphyry and noted by USGS]

"COPPER HEAD
Known as JULIVON CREEK
3km x 2km
2.8m x 800m Core Anomaly
Peak 0.22% Cu
O P E N
Western to define a large scale porphyr deposit."
Kindly check as I may have copied it wrongly re: 2.8m or is it 2.8km? I will check later.

COPPER DOME
Known as MOUNT LESLIE
EXPLORATION POTENTIAL VERY HIGH."
Previously, it was 2km x 1km
Now with new data, it is 4KM X 3. 5 KM.

Sat, 22 May 2021
My 1st 2 posts on Copper Head and Copper Dome, Qld, Australia have been posted on Wed below. Copper Head and Copper Dome are about 50km from each other.

Allenby Initiation Note, 2 Mar 2020: Rockfire Resources

"COPPER DOME, QLD, AUSTRALIA.
-Diamond drilling - Discovered in 1972 by Australia Set..
15.2m @0.88% cu
12.2m @0.6% cu
24m @0.27% cu
High grade 4.58m @2.28% cu copper.

The COPPER GRADES are potentially ECONOMIC assuming a LARGE SCALE PORPHYRY DEPOSIT.
Gold grades up to 1.86g/t gold.
2KM X 1KM

Typical porphyry grades 0.45% cu at US$6,000/t copper.
Copper Dome - East Tasmanide Tract, Queensland, Australia."

Link: www.allenbycapital.com/research/research-rock4_539603981.pdf
==

ALLENBY: COPPER HEAD, QLD , AUSTRALIA Initiation Note, 2 Mar 2020
Additional to 1st post below:

"Discovery of COPPER AT DEPTH looks particularly interest and could be indicative
of a LARGE SCALE PORPHYRY DEPOSIT >120,000/t COPPER [cu]."

My Comment:
In the latest recent Rockfire Resources RNS, the co said it was going to drill both Copper Head and Copper Dome, Qld, Australia shortly. SP ANGEL who is NOT the co broker commented and said in their conclusion that they are looking forward to the results ie coming drill. It is posted up on Twitter under #rockfire.

Also, the SIZE OF COPPER DOME HAS INCREASED - see my 1st two posts on this forum for details.

Copper Dome and Copper Head are south of Townsville, Qld, Australia and South of Mt Isa.

News, 21 May 2021
Copper is currently >US$10,000/t.

Allenby Initiation Note, Mar 2020: Rockfire C O P P E R H E A D, Qld , Australia-

"Carpentaria drilled 5 HOLES at COPPER HEAD, 2 of which were to a DEPTH of 300M.
Results were PROMISING.
SIGNIFICANTLY, EVERY HOLE intersected COPPER MINERALISATION for it E N T I R E LENGTH.

35MT HOST ROCK 1 2 3 , 0 0 0 @ 0. 3 5% CU EQUIVALENT. Could be a tentative SIGN of a
C O M M E R C I A L P R O J E C T."

[Link will be given in the next post].

Fri, 21 May 2021

====EVIDENCE: "NEW BULL CHART PRICE, PORPHRIES NEARLY MINED OUT"======
From Mining.com, 14 May 2021

Link: https://www.mining.com/new-bull-chart-price-porphyries-nearly-mined-out/ 14.5.21

Gist:
80% of world copper supply comes from PORPHYRIES.
The authors studied some 115 co*s and their COPPER RESERVES HAVE INCREASED BY USING A CUT-OFF AT 0. 2 5 % COPPER F R O M 0. 4 % COPPER.

SUPPLY OF COPPER DEPLETING.
Thanks to 2020Upside for the link.

SO, FROM THE ACTUAL EVIDENCE OF THE DATA, THERE IS NO 1% COPPPER [CU] AS STATED AND REQUIRED BY 1 ON THE ROCKFIRE MAIN STOCK FORUM.

Other than Cadia-Ridgeway link below, the above is FURTHER EVIDENCE.

ROCKFIRE*S COPPER DOME, QLD, AUSTRALIA IS A PORPHYRY AND SO IS COPPER HEAD, QLD, AUSTRALIA.

Wed, 19 May 2021

----REF: EVIDENCE: C A D I A - R I D G E W A Y, LACHLAND FOLD, NSW, AUSTRALIA-LARGEST MINE IN AUSTRALIA------------

" 3 . 5 BT @ 0 . 2 6 % CU
& 0. 4 g/t au."

Cu=Copper
Au=Gold

Link: https://xtractresouces.com/bushranger-project/

--
SO, EVEN THE LARGEST MINE IN AUSTRALIA IE CADIA-RIDGEWAY DOES NOT HAVE 1% CU COPPER GRADE which has been mentioned on the ROCKFIRE RESOURCES main London South East ROCK forum as the required copper grade needed.

Just look up porphyries of which Cadia Ridgeway is classed as and one will find that in porphyries they tend to be of lower grades BUT HIGH TONNAGE.

So, one awaits the DRILLING OF COPPER DOME FIRST AND THEN COPPER HEAD as to how far the drilling will go down and at what grades etc.

Wed, 19 May 2021

----------------ROCKFIRE RESOURCES-Copper Dome, Queensland, Australia -------------
Drilling as said to start shortly but no date yet given in today*s RNS, Wed 19 May 2021

ROCKFIRE MAIN FORUM
It has been said that it has to be 1% cu copper by 1 poster.

REF:
[1]Racecourse Scoping Study [NSW, Australia]
At US$7,500/t copper price = 0.2% cu CUT-OFF ECONOMIC
At US$10,000/t copper price= 0.15% cu CUT-OFF ECONOMIC

[2]RIOTINTO WINU, Paterso, Western Australia
"28 July 2020: Inferred Mineral Resource, RioTinto at WINU
0.2 % CU CUT-OFF is 503 Mt @0.45% copper EQUIVALENT [Cu Eq]
and higher grade core 188Mt @0.68% cu eq, CUT OFF 0.45% cu eq.

ROCKFIRE CEO*S PRESENTATION
It was recent and it is available on Twitter on the #rockfire thread.
Mr David Price answered a shareholder*s question about the share price. This is common to all junior exploration co*s. The co drilling Racecourse, Lachlan Fold, NSW, Australia had a mkt cap of some £10m+ PRIOR to drilling the DEEPER resource. In recent times, the mkt cap went to £45m mark.

Rockfire Resources MKT CAP IS £10M PRIOR TO DRILLING COPPER DOME & COPPER HEAD, Queensland, Australia. Both these projects are listed in the USGS data.

So, from the data, the CELEBRATED BODA prospect, Lachlan Fold, NSW, Australia is also a porphyry but NO 1% cu overall or gold au 1% overall. From recall of the last broker report the grade is some 0.32 g/t au for the OVERALL prospect. The drilling also TESTED DEPTH. Given the Racecourse is also in the same area, they also DRILLED DEEPER and grades results are awaited for the next 5 holes.

Even WINU, the world class prospect cant produce 1% cu although this is a more shallow prospect.

SO, AWAIT DRILLING OF COPPER DOME 1st and then Copper Head, Qld, Australia.
Rockfire Resources has NEVER drilled a copper porphyry before so that is why it is of
INTEREST TO PORPHYRY investors given this is in AUSTRALIA, a TIER 1 JURISDICTION and 250km from the refinery as was said in the presentation.

Wed, 19 May 2021.

Rockfire Resources Plc: RNS 14 Apr 2021
"Geophysics"
COPPER DOME

"Previous drilling 1 of the 3 intrusions.
15m @0.9% cu
12m @0.6% cu
& 24m @0.3% cu copper.

Previous: 1KM X 2KM
New : 4 K M X 3 . 5 KM

20 holes to be drilled at all 3 intrusions over the next 6 months [reverse circulation drill].
==
My View/Idea:
The total 4km x 3.5km appears to be like BODA, NSW, Australia.
However, today*s RNS , 19 May 2021 shows the modelling of the 2 prospects at COPPERDOME which is 1.5km x 700m and 900m x 250m

Wed, 19 May 2021

BODA - one or two examples
KSD 010 851m @0.26 g/t from 293m.
However,BODA is more of a gold prospect as opposed to Rockfire*s Copper Dome which is more of a COPPER prospect so just an example but NOT an exact example. Will have to look further for another Australian copper porphyry example later if possible.

From today*s Rockfire Resources Plc RNS, Wed, 19 May 2021:
"C O P P E R D O M E - P o r p h y r y
-2 targets with modelling ------@500M BELOW SURFACE----
STRONG MAGNETIC RESPONSES being interpreted as magnetite alteration.
[1] 1.5 KM x 700M
Depth 400m to 1.3 KM deep, OPEN

[2] 900M x 250M
Depth 600m to at least 1KM deep.

88m @0.23% cu & 75m @0.13% cu with most holes ending in copper mineralisation, PEAK 3.77% cu copper & 1.8g/t au gold."
--
HISTORIC: Rockfire RNS, 2 July 2018 [Thanks to Sniffer73 for the info on the main forum]
"35 mt @ 0/16% CU COPPER [Prior to JORC Code]. Internal.
=56,000t copper
Capertaria Exploration in 1988 has lifted the AVERAGE GRADE TO 0. 2 5 % cu copper."

My View/Idea:
The coming Copper Dome drilling in Queensland, Australia by Rockfire Resources plc looks just similar to the recent Racecourse [NSW, Australia] drilling. How? Racecourse also already had a resource estimate akin to COPPER DOME done by Carpentaria although NOT to JORC standard as above.

So, the drilling is TO TEST THE DEEPER MINERALISATION POTENTIAL akin to what was the objective in the Racecourse drilling & as norm for other deeper drilling targets @porphyries.

ROCKFIRE RESOURCES PLC MKT CAP : £10M MARK.
@0.95p-1p

I have been in for a while now as I am interested in Australian drilling of porphyries of COPPER targets.

THE TOTAL STRIKE LENGTH IS AROUND 2.5 KM [2 targets] at Copper Dome. It is 50km from Rockfire*s COPPER HEAD project, Qld, Australia.

Ref; "Rockfire Resources plc adds COPPER DOME option to its growing project list."
-Proactive Investors, 26.11.18
"Drilling took place in 1972 YIELDING GRADES UP TO 0.88% CU and some gold grades were measured."
==
Rockfire Resources plc has NOT STATED in today*s RNS as to HOW DEEP they intend to drill at COPPER DOME so look forward to details in the coming RNS*es to inform shareholders.

DYOR. Wed, 19 May 2021

"At the event organised by the state owned co... the president announced that an industralization strategy has been designed for the country*s BICENTENARY celebrations in 2 0 2 5."

"The President , Luis Arce yesterday announced an INTERNATIONAL CALL FOR B I D S on lithium extraction and stressed that LITHIUM is a PRIORITY for the ECONOMY and STATE.

..includes EXECUTION OF STALLED PROJECTS."

"Bolivia reiterates priority of lithium industralization."- RioTimes, 1 May 2021
https://riotimesonline.com/brazil-news-rio-politics/bolivia-reiterates-priority-of-lithium-industralization/
===
Clontarf Energy £3m cap today, 19 May 2021
So, today*s RNS follows on the 6 May 2021 relating to Bolivia lithium and Clon in "negotations."

----CLONTARF : BOLIVIA LITHIUM-------
Confirmed by today*s RNS, Wed 19 May 2021 [see details]

-Placing of £500k appears to suffice for next 18 mths [Going concern rules:12 mths of liquidity]
-So NEW INVESTORS supported this new raise.
-RISK clear - Outcome of the proposals put forward by CLON that is acceptable to the Bolivian govt for its lithium.
-From press articles, one knows there are 15 INTERNATIONAL INVESTORS from Ganfeng etc from different countries with lithium reserves estimated some time ago to be $1 Trillion worth.
Bolivia contains nearly 50% of world lithium reserves. So, even DIVIDING $1TRILLION BY 15 IS STILL PRETTY GOOD. However, Clon is going for the smaller area with HIGHER GRADES and less contamination.
-Speculative.
-If NEW INVESTORS did NOT support the funding, then who knows?

CLONTARF ENERGY
Results RNS, Wed, 19 May 2021

Mentioned LIQUIDITY in the stock.
Funds raised -18 mths
Bolivia- submitted proposals accepted to the govt.

From what I understand from the said RNS [not verbatim but paraphrased].
As I said, LIQUIDITY IS THE LIFE-BLOOD for AIM co*s especially.
So, presumably FROM NEW INVESTORS etc.
In general, the accounts need to show 12 months of liquidity for "GOING CONCERN."
So, with 18 mths liquidity, it appears positive.
As also said, the OUTCOME FROM THE BOLIVIAN NEGOTIATION will be known at some time as the others who also sent in proposals. The Bolivian govt, under a new President, Luis Arce invited international investors to invest in the opening up or potential opening up of Bolivian lithium.

Share price still 0.35p/0.36p to sell and buy today vs 0.32p placing price.
So, appears to be NO heavy selling from new investors or dump etc?
Classed speculative as norm.