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Steve4077 @13:31

Target depth : 750m [Caveat Emptor: might continue if still in mineralisation]
Weak to Moderate Mineralisation: FROM 130-340m = 2 1 0 METRES OF WEAK-MODERATE MINERALISATION.

STRONGER MINERALISATION: 340M TO 405M AND THEN POTENTIALLY 750M = 4 1 0 METRES of STRONGER MINERALISATION. Per Steve4077 his view is stronger mineralisation =economic grades.

Steve4077 - Per Lucky520 & Caveat Emptor, Target depth 750m not 700m.

XTR HOLE 2, RNS , THUR, 28 JAN 2021 @1.35PM

Observation:
As per my earlier post to this, BODA announced HIGH GRADE ZONE results and they show COPPER AT 0.11% cu and 0.17% cu. So, wondering if folks consider this economic or non-economic. As far as I am aware, this BODA high grade copper is NOT GOING TO BE THROWN AWAY?

Pardon.
Correction: Typo -target depth for Hole 2 is 750m -thanks to lucky25 and caveat emptor for correction.

So, potentially 620m of mineralisation. MIGHT CONTINUE IF MORE MINERALISATION AFTER 750M TARGET DEPTH.

XTR RNS, 28 Jan 2021.

DL:
"BIG COPPER HIT IN AUSTRALIA announced after market." 26 Jan 2021
https://twitter.com/DavidLenigas/status/1353953718144819200
Hole 1 copper XRF results at Racecourse-Bushranger: "0.2-0.5% CU."

BODA [Alkane]
ASX ANN: " H I G H - GRADE ZONES AT BODA SHOWN BY REVISED DRILL ORIENTATION."-18.12.20 Link: https://www.alkane.com.au

Quote:
"KSD0028 : 8 3 2 METRES @ 0.38g/t au & 0. 1 7 % CU COPPER FROM 256M."
"KSR 33D: 3 6 6 .8 METRES @ 0.27G/T AU & 0. 1 1 % CU COPPER FROM 0M."

----------RACECOURSE XRF COPPER RESULTS VS BODA HIGH GRADE ZONE COPPER RESULTS---
0.2% -0.5% CU COPPER VS 0.11% CU COPPER & 0.17% CU COPPER.

RACECOURSE SCOPING STUDY - Lachlan Star
At US$7,500/t [Current $7,900+] CUT-OFF COPPER GRADE 0.2% CU TO ECONOMIC.

ON TWITTER #XTR:
Folks tweeted that Hole 2, Racecourse MAIN BODY supposed to be at 450-500m.
XTR RNS just out, MINERALISATION STARTED AT 130M [weak to moderate] & from 340m stronger and target depth 700m. XTR RNS, Thur, 28 Jan 2021

LoL

If at the end of Hole 2 - 7 0 0m = POTENTIAL 570m of mineralisation = BODA*S DISCOVERY HOLE OF 502M.

Currently, at 405m [mineralisation started 130m NICE SURPRISE as folks expected from 450-500m whilst I understood mineralisation to START at 300m?] = 2 7 5 M OF MINERALISATION.

Hole 1 at Racecourse 940m of copper mineralisation almost equal to ,*S DEEPEST HOLE AT 1167m.

XTR RNS, Thur, 28 Jan 2021

Weak to moderate mineralisation FROM 130m.
Stronger FROM 340m.
Currently at 405m.
Target Depth: 700m.

=POTENTIAL 700 minus 130m = 570m of mineralisation?

{Per another post, mineralisation supposed to start at 450-500m? I got the impression that mineralisation to start at 300m? ACTUAL RNS: MINERALISATION STARTS AT 130M. Hole 1 mineralisation started at 110m]

DYOR. Please read RNS and check.

EARLIER PROGNOSIS:
Mineralisation supposed to start from 300M.
ACTUAL RESULTS: STARTS FROM 110M. [Varying cu -see details from RNS]

Target depth:700m

Hole 2, Racecourse-Bushranger RNS, Thur 28 Jan 2021 noonish

Share price now 4.3p to sell and 4.5p to buy. Recovered after folks read the RNS properly?

Hole 2: Racecourse-Bushranger

Drilling 24/7.
Currently at 405m and target depth 750m
More pronouned From 340m .
As prognosed ie FROM 300m onward.

Ref: My last 2 posts below relating to the
BUSHRANGER [under XTR] CLUSTERS :
F O O T R O T
W HITE SPRINGS
BLACK SPRINGS
SWATCHFIELD
DAISY BANK
DAILY BANK EAST
SOUTHERN INTRUSIONS
& R A C E C O U R S E - RACECOURSE NORTH

----------------ARE ALL U P FOR S A L E ?------------------------------------

RACECOURSE - One knows that Anglo-American has a BUY-IN-OPTION of 80% or if XTR mines, then further details.

PER LEOSAYER: Leosayer posted today that BUSHRANGER [other than Racecourse]
COME UNDER ANGLO TENEMENTS!!??

IF SOLD, THEN ANGLO HAS A 50% SHARE OF THE PROCEEDS IF SALE IS OVER £100K!!!??

--------------LOL , SO ANGLO IS COGNISANT OF THE POTENTIAL OF THE BUSHRANGER TENEMENTS IE THERE IS POTENTIAL FOR SALE? Otherwise, why the agreement that in a sale 50% GOES TO ANGLO?

-------------NO ONE ON THIS FORUM KNEW THAT AS NO ONE POSTED ABOUT THE ABOVE?---------

Interesting.

COLIN BIRD, EXECUTIVE CHAIRMAN, XTR BUSHRANGER
Interview with Share-Talk on 18 Jan 2021:

"Kimberlite CLUSTERS - all diamonferous. SAME WITH PORPHYRIES." [BIRD ON CLUSTERS IN KIMBERLITE AND CLUSTERS RE: PORPHYRIES AT BUSHRANGER.]

"BUSHRANGER-RACECOURSE: COLIN BIRD: END UP? 1,100M - CONFIDENT OF BIGGER ONES

----------C A D I A RIDGEWAY -- N O R TH PARKES."

News, Wed, 27 Jan 2021
DYOR.

BUSHRANGER - UNDER XTR

Page 6: XTR Presentation , Apr 2020
"Previous exploration has identified SEVERAL PORPHYRY INTRUSIONS, some already known to be associated with COPPER AND GOLD MINERALISATION, as well as geochemical and IP geophysical A N O M A L I E S OVER A S T R I K E LENGTH OF 1 0 KM."

MAP SHOWS: RACECOURSE & RACECOURSE NORTH [also shows south and northern extensions + RACECOURSE even extends to the top part of WHITESPRINGS], Daisy Bank, Daisy Bank East, Footrot and SOUTHERN intrusions."

----------
OBSERVATION:
So, in ADDITION to Lachlan Star*s BUSHRANGER prospects, XTR has obtained more info as above on additional prospects and shows how big RACECOURSE ACTUALLY IS.

Therefore, not surprising for XTR to state:
"At Bushranger, multiple IP, magnetic and geochem feature INDICATE the POTENTIAL for the project to HOST A C L U S T E R of copper gold porphyry depositS S I M I L A R to C A D I A -RIDGEWAY."

-----------I note that folks are talking of Racecourse & AA but it would appear from Lachlan Star and XTR via their info obtained probably from previous owners inc AA that BUSHRANGER
is NOT ONLY RACECOURSE BUT THE CLUSTERS. Colin Bird, Executive Chairman, XTR mentioned that where there is a DEPOSIT, there are CLUSTERS.

So, it would appear that Mr Bird is not just going to get VALUE from Racecourse but from the BUSHRANGER CLUSTERS?

From Leosayer earlier, I note that the Bushranger tenements are also under AA ie must split 50% with them if sale is over $100k?

News, Wed, 27 Jan 2021 @11:45pm
DYOR.

From USGS.Gov:
"RACECOURSE - Porphyry deposit NSW, Australia

RACECOURSE NORTH
BLACK SPRINGS
WHITE SPRINGS
F O O T R O T
SWATCHFIELD RGC."

"Ref: Lachlan Star, GeoScience."
"Major, minor and trace commodities: COPPER, SILVER AND GOLD.
"Copper grade 0.45% , AG grade 1.855g/t." "28Mt"
Link: https://mrdatausgs.gov/sir20105090z/show-sir20105090z.phd?id=4031
-----------------At 28Mt, this ap
pears to be BEFORE the upgrade JORC to 71Mt------

**********ASX ANN: TDR.ASX ord 9 JULY 2007 FINAL********
https://www.asx.com.au/asxpdf/20070809/pdf/313wk004jpnzsk.pdf

"There is ADDITIONAL POTENTIAL for structurally gold-arsenic mineralisation associated with faulted lithologic contacts S O U TH E A S T OF R AC E CO U RSE.

"Bushranger has been covered by GEOPHYSICS in the form of airborne magnetics & radiometries, ground induced polarisation [IP} and Electromagnetics [EM].
--- THIS HAS SUCCESSFULLY LOCATED THE RACECOURSE PROSPECT & SEVERAL OTHERS INCLUDING F O O T R O T & WHITE SPRINGS PROSPECTS."--------

Earlier, I had also posted from Lachlan Star about:
"Focus on ARUNDLE with limited field work. Ground mag work LARGE SWATCHFIELD MAGNETIC A N O M A L Y." [Ref: "Lachlan Star, ASX ANN: Annual Info for the Financial Year ended June 30, 2012 dated Sep 28, 2012."]

-------
OBSERVATION:
Since the GEOPHYSICS DONE BY LACHLAN STAR WAS SO GOOD that they were able to located the RACECOURSE PROSPECT which became a deposit, they appear confident on their geophysics work. So, if so, then the other prospectS .....as above are of interest.

News, Wed, 27 Jan 2021 @11:15

The_Frog
From the statement from Lachlan Star [see my post] it would appear that "Angllo-American RE-LOGGED H I S T O R I C A L D R I L L C O R E from RACECOURSE & F O O T R O T ."

So, it would appear that Footrot may be like Racecourse ie NOT DRILLED TO DEPTH.
------
RATIONALE:
Both Racecourse and Footrot [porphyry] at Bushranger would a/c for quite a size? It is commonly known that MAJORS are interested in Tier 1 normally but some now even go for Tier 2? However, not for the top majors who are still interested in Tier 1*s.

To read, just call up the title and it will show up.

QUESTION:
If the link to the Lachlan Star was known on this forum, why did this forum go into "such chaos and confusion" over RACECOURSE GRADES? It would have saved a lot of time since the scoping study would have been the definite proof of 0.2% CU CUT-OFF = ECONOMIC per the scoping study?

Background:
Tooday bought Bushrangers from Straits Resources [A$982m rev in 2006], both on ASX in 2007.
Tooday then renamed the co to LACHLAN STAR.

Lachlan Star then went on to buy a mine and so they stated that Bushranger was "NON-CORE."
Lachlan Star then JV with Anglo-American who took the operating 51%.
Anglo-American asked Lachlan Star for further funds for exploration but they did not want to contribute further funds because the mine would take some time ie Bushranger.

Tooday in 2007 [acquisition ANN] stated they did IP and the rest of it, not only at Racecourse but at other prospects. The other prospects at Bushranger include WhiteSprings, BlackSprings, SG something, Daisy..., Footrot etc. It is shown in their map accompanying this ANN.
----
--------ASX ANN: "LACHLAN STAR: MANAGEMENT DISCUSSIONS AND ANALYSIS, 13 NOV 2014"-------

"Anglo-American has recently completed an airborne MAGENTIC and radiometric survey, a MIMDAS IP Survey and has RE-LOGGED HISTORIC drill core from

R A CE C O U R S E & F O O T R O T

prospects which includes SPECTRAL LOGGING OF CORE and RC chips.
Much of the work is like to result in a RE-INTERETATION of the COPPER MINERALISATION POTENTIAL ON THE TENEMENT." Pg 15

---
Observation: It is NORM to check the previous owners work. So, ANGLO-AMERICAN DID XRF rather than doing assays.

From the above, it shows that ANGLO-AMERICAN WAS INTERESTED IN FOOTROT AS WELL.
Colin Bird, Executive Chairman said that FOOTROT IS THE 2ND PORPHYRY AT BUSHRANGER.
Mr Bird mentioned Footrot TWICE in his recent Share-Talk interviews of Jan 2021.

From the map both by Tooday and XTR, Footrot looks big? Kindly check.
SO MORE TO COME ON FOOTROT [not under Anglo agreement?].

BUSHRANGER CLUSTERS
XTR*s Apr 2020 Presentation said that IP, Magnetics and the rest of it features indicate that the CLUSTERS at BUSHRANGER show potential akin to CLUSTERS at CADIA-RIDGEWAY [check exact wording].

From last nights look at Cadia-Ridgeway, I recall that they had 8 CLUSTERS.

So, these clusters at Bushranger are of interest.

By the way, the SCOPING STUDY on Racecourse done in 2011 by LACHLAN STAR is not by XTR just in case folks were not aware.

I get the idea from the Scoping Study that once the O/P plan is up, then they FEED the plant further from further exploration at Bushrangers?

HOLE 2-Racecourse under XTR.
Colin Bird said on 20.1.21 interview that Hole 2 will tell us a lot. ALL NEEDED at this early stage is to "HIT MINERALISATION" and to what width initially. This will test PROSPECT ONE*S GEO MODELLING re: "Big Fat Cigar" ie it is there via the mineralisation hit? That*s logic. That was the idea I got.

News, Wed 27 Jan 2021 @5.25pm
MM*s seem keen to buy block/s above normal mkt size and tried to offer above advertised price towards close of mkt.

Hole 2 itself will not measure the WIDTH in its ENTIRETY.
The Canadian forum was discussing this next hole 2 & 3.

What it will show is that it has "HIT" THE BIG FAT CIGAR AREA and covered it laterally by how much will be revealed.

The advertised price is not the live price.
So, check with dummy.
However, from past experience, it appears typical when the market wants to buy ABOVE NORMAL SIZE.

P.S.

From my notes taken last night, I note that Lachlan Star stated: "HIGHER THRU -PUT" and I recall they mentioned that exploration could help further.

Hence, why I just posted about West of Racecourse cited in XTR*s July 2020 Presentation on Bushrangers ie West of Racecourse is untested, not drilled.

I have to hunt further but rather tired from all the hunting for the info on Bushranger.

News , 27.1.21. @3:30pm

-----
HOLE 2 - RACECOURSE
I have gone to a CANADIAN XTR stock forum and they are discussing Hole 2 ie IT WILL GIVE WIDTH at Racecourse. From London South East , Dibs61*s notes on what Colin Bird , Exec Chairman said on 20.1.21 interview with Share-Talk, he says Hole 2 WILL TELL US A LOT.

Indeed --Mr Bird calls it "BIG FAT CIGAR" - this is the area MENTIONED by CRONFORD.
Whilst this is from Prospect One*s GEO MODELLING, it still has to be PROVEN BY THE DRILL BIT.
SO, HOLE 2 IS AWAITED ie next update. This is coloured Light Green in the said modelling - see color codes.

XTRACT RESOURCES-JULY 2020 PRESENTATION
Link: https://xtractresources.com
[On landing page]

The above is about Xtract Resources and ALL their projects ie General Presentation.
From recall, last night it said : "WEST OF RACECOURSE - UNTESTED -Not drilled" from recall. No details given of the prospect/s.
Kindly check.

------
"LACHLAN STAR [ASX]: "Annual infor form for the Financial Year ended June 30, 2012." -ANN, 28 Sep 2012

Quote:
"Lachlan Star put BUSHRANGERS under Ord [sub].

Focus on A R U N D L E prospect with field work.

Ground magnetic - LARGE S W A T C H F I E L D MAGNETIC A N O M A L Y." [Prospect]

My Observation:
Lachlan Star [ASX] - former name Tooday. Tooday in 2007 ASX ANN showed a map with Swatchfield but they did not mark Arundel. So, perhaps these are the prospect/s WEST OF RACECOURSE-BUSHRANGER. From XTR*s Presentation of Apr 2020, it does show Swatchfield?

------SO, MORE TO RACECOURSE -----------? Just sayin cos folks think that Racecourse is all there is?
News, Wed 27 Jan 2021 @3.20pm
Answer to Demark: I started at Solg like here at XTR when no one was interested in Bushranger as the folks here were legacy holders of the African projects. When I think of it, I LOL because it could have all turned out differently if Alpala did not come in as prognosed? Etc.

MM*s want to buy OVER normal mkt size from dummy like someone else posted earlier.

Ref: "Lachlan Star announces positive results from Scoping Study at 100% owned Bushrangers Copper Project." - ASX ANN, 18 Mar 2011

"0.3% --Cut-Off 0.2%."

"At copper price US$7,500-------CUT OFF 0. 2 % CU COPPER - ECONOMIC."
"At copper price US$10,00----CUT OFF 0.15% cu copper - ECONOMIC."

"Other details include power line transverse the prospect, large regional dam for water etc.
COPPER CONCENTRATE with GOLD & SILVER CREDITS."
--------
CURRENT COPPER PRICE:
US$7,957 - COPPER SPOT PRICE: Markets, BusinessInsider, Wed, 27 Jan 2021 @2pm
US$8,010 - COPPER PRICE ABR $ 8, 010.

-----
Lachlan Star bought Bushranger - Racecourse from Straits Resources in 2007 under their old name TOODAY.
Tooday in 2007 stated [link given before] that Racecourse was ONLY DRILLED TO 350M. Hence why one sees intersections of some 150m given it starts FROM 110.
-----
COLIN BIRD, INTERVIEW , SHARE-TALK, 17.1.20
Mr Bird, Executive Chairman, XTR Bushrangers said that he was going to drill Racecourse to 800-1000m "like the good ole days of Solgold."
Mr Bird mentions BODA and he must have seen that BODA could drill to DEPTHS of 1,100m so, why not XTR Racecourse? [my conclusion from what he said].
Hole 1 did achieve 1,000m+ with 905m OF CONTINUOUS COPPER MINERALISATION.

DEFINITIVE PROOF FROM SCOPING STUDY THAT LACHLAN FOLD IN PARTICULAR [Racecourse]
is "ECONOMIC" at 0.2% cu CUT-OFF with copper price at US$7,500 which it already is at the momo at US$7957 SPOT.

News, Wed 27 Jan 2021 @2:10pm @From Original Research and from notes taken [found today].
DYOR. Please check. Sorry for CAPS as the page freezes so I try to type quickly and dont change up and down for caps and no caps.

------------------------------LETS BE CLEAR------------
From my post below at 7:32pm, Tues 26 Jan 2021, one can see the GEOLOGICAL SETTING of XTR*s RACECOURSE-BUSHRANGER , Lachlan Fold, NSW, Australia with the statementS [x2].

NO ONE CAN GUARANTEE that GOLD GRADES will be the SAME as for Cadia-Ridgeway @0.4 g/t GOLD [PorterGeo cited 0.3g/t for Little & Big Cadia. One knows that this is the HEADLINE FIGURE ie overall and there will be LOWER GRADES EVEN WITHIN 0.3 g/t ,
MAYBE EVEN 0.17-0.18 g/t etc. I do NOT have the DETAILED DRILLING REPORT so just on range variance].

As for NORTH PARKES , it is 0.2 g/t GOLD HEADLINE [within that may be 0.13- 0.15 g/t gold as per variance. Its too late to run variance sensistivity type models as it would take lots of time to check].

HOPE
XTR*s BUSHRANGER -RACECOURSE IS IN A GREAT POSTCODE WITH CADIA-RIDGEWAY AND NORTH PARKES [owned by Rio and sold to Chinese per C.Bird ].

So, whilst Mr Bird mentioned "Material: Edge of High Grade Zone" it means that it is considered high grade for Lachlan Fold, NSW and for Racecourse in particular. Whether they find it at Racecourse or extensions, I DO NOT KNOW as BODA took some time and even with that it was found in Jan 2021 with re-orientated drill. So WHERE AT BUSHRANGER IF A N Y, one will eventually find out. WE ARE DEALING WITH MR RACECOURSE AND IT HAS TO GIVE UP HER GRADES ONLY AT THE POINT OF DRILLING.

I have NO precedent to go on - HOW CAN I? CAN ANYONE SAY THAT AFTER NORTH PARKES, CADIA-RIDGEWAY AND THE FLOW OF FLUID, Bushranger will BE THE NORM OR THE ANOMALY?

Hence, here*s HOPING. They said Colin Bird got lucky - well , Bushranger was a opportunity wasnt it?

So, at 9.30pm, Tues, 26 Jan 2021 one hopes for further updates.

News, Tues 26 Jan 2021.
I am posting just in case FOLKS READING DONT UNDERSTAND WHAT HOPING AND CHANCE IS?
---------THERE IS NO GUARANTEE/S-------

RESEARCH: FROM XTRACT RESOURCES BUSHRANGER
Link: https://xtractresources.com/bushranger-project/

Quote:

" The Lachlan Fold Belt in New South Wales hosts world class porphyry copper-gold deposits [eg Cadia-Ridgeway - 3.5 BT ----@ 0. 2 6 % CU COPPER -------0. 4 g/t au GOLD.

North Parkes 597Mt -----@0. 5 8 % cu COPPER------0. 2 g/t au GOLD.

Epithemal gold deposits: McPhillamy*s 60Mt 1. 0 4 g/t GOLD.
Tomingley 6.4Mt------@ 2 .0 g/t au GOLD.

VMS hosted deposits: Woodlawn 7.2Mt ---6.3% Zn ZINC, 1.9% CU , 2.4% pb & 0.5 g/t GOLD."

"BUSHRANGER- at 71MT -----------@0.4 4 % CU COPPER ---0.064 g/t au GOLD [cut-off 0.3%cu], IT IS THE LARGEST UNDEVELOPED COPPER -GOLD DEPOSITS IN THE LACHLAN FOLD."

"THE INTUSION HOSTING THE THE RACECOURSE DEPOSIT IS OF THE SAME AGE AS THE GIANT CADIA-RIDGEWAY TO THE WEST. The Racecourse deposit is HOSTED WITHIN THE LACHLAN TRANSFER ZONE, an important STRUCTURE KNOWN TO HAVE CONTROLLED THE EMPLACEMENT OF THE INSTRUSIONS HOSTING BOTH THE CADIA-RIDGEWAY AND NORTH-PARKES MINES."

So, VERBATIM FROM XTR BUSHRANGER [this is not from the XTR Bushranger Presenation Apr 2020 but from the XTR Bushranger project.

News, Tues 26 Jan 2021. @7.30pm

FOR COMPLETENESS AND CLARITY FROM XTR THEMSELVES.
By the way, BUSHRANGERS HAS ANOTHER PORPHYRY IE FOOTROT + EPITHEMALS as mentioned by C.Bird in his interview with Share-Talk recently.

theiceberg,
On this thread, I posted the PORTERGEO CADIA GRADES. Then, you replied to Frog about CADIA so that is how I have to answer. Just as you are free, everyone is free to reply but if you did not mention "Cadia", I dont have to reply as Frog did NOT mention Cadia in relation to more GOLD than COPPER. Since I was a Greatlander, how can I not know about WINU [Rio] given I posted that or even tweeted that the grade is about 0.45 % cu COPPER from recall and so is PROVENIR at around the 0.5% cu copper mark APPROXIMATELY. As for Middlekoop, that was mentioned by you and you said you fell out as well.

Let*s leave this conversation and bring it to an end. I came to post because Caveat Emptor told me that the GOLD grade could be useful and may be MORE THAN 0.064 g/t kinda of thing which I like quoting from historic. So, I wanted to tell C.Emptor that he is insightful in light of the EXPERT GEO*S VIEW ON RACECOURSE -FERTILE AND ALSO XTR RNS, MON 26 Jan 2021 saying MORE GOLD TYPE PROSPECT THAN COPPER PREVIOUSLY.

Then, you told Frog THAT XTR MAY BE "OVER-PROMISING" which means that the XTR RNS/EXPERT IS WRONG?

So, that ends the convo. For the avoidance of doubt, one must also take the LOWER GRADE FOR GOLD as that is not always PUBLISHED IN THE HEADLINE 0.3g/t gold grade for Cadia which means LOWER AT --------0.2G/T GOLD TO 0.17/18 or even a bit lower at 0.15g/t IN PLACE AS THE NORMAL RANGE.

News, 26 Jan 2021 @6:30pm. MKT WAS CLOSED WHEN THIS CONVO STARTED SO NO ONE TOOK IT IN - Good to hear ALL VIEWS - then one can see what was SAID AT THE TIME.
DYOR. PLS CHECK.