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Part 2:

It is of interest to post Lucky52*s @14:17 , Sat, 23 Jan 2021 post:
"450m average diameter."
940m long x 450m. 3x 448,000 @0.44%. If grade more then 0.44 we need less."

Known: 250m currently although WIDENING as it down down deeper. One can see that from the XTR RNS Racecourse MODELLING [Geo].

0.44% cu is the historic average in the last JORC of 71Mt [from 21Mt].
------------------
Observation:
So, there is a balance between Edison*s figure for BODA and one by Lucky25 on the current level known and extended.

Even at 488MT @0.44% cu that would MEET AA*s specification by a comfortable margin?
I hope I copied it right as I cant see to check when I am on a different thread typing.

FOOTROT - Bushranger
Colin Bird wants to change the name. From TOODAY*s ASX RNS/ANN of 2007, they said they did the IP etc and one can see the map they produced for Footrot [also shown by XTR Apr 2020 Presentation.

So, Footrot as a 2nd porphyry mentioned by Mr Colin Bird, Executive Chairman, XTR [twice] could be the 2nd leg to Racecourse. This should prove interesting.

News, Sat 23 Jan 2021 @4:05pm.

COBETT MENZIES-Porphryry Experts
They are located in New South Wales so its easier for them to get down to Racecourse-Bushranger Lachlan Fold, New South Wales, Australia [XTR]. They are exploration geologists etc. So, right people to plan the holes & "development." Colin Bird said he would quote from the expert and Corbett Menzies said: "ITS BIG." [Racecourse-Bushranger].

<><>COLIN BIRD, FRI, 22.1.21 INTERVIEW WITH SHARE-TALK [POST RNS: DRILLING TO START
FRI NIGHT X FURTHER 6 HOLES]<><>

Mr Bird was asked by Zak: Any juice left?
Mr Bird said : HOW F A R DOES IT GO? TIME WILL TELL.
DRILLING ON STRIKE-ACROSS HOW MUCH & GRADE." [Objective of drilling]
----------------------------------------
KNOWN: RACECOURSE
1,000M STRIKE X 250M WIDTH [WIDENING AS IT GOES DOWN] X 1,000 DEPTH. @0.5-6% XRF per C.B 22.1.21.

VS BODA: 1,000 STRIKE X 450M WIDTH X 1,000M DEPTH [EDISON:780MT @0.35%cu? Ref: 007 strikes it rich report 2020]
-------------------------------------
RACECOURSE GEOLOGICAL MODELLING
XTR RNS provided the map which I gave a link to.
Dark Green vs historic drilling: 0.5%cu
Light Green " " 0.4% cu
Brownish Green 0.3% cu [outer fringes]
XTR have done a NEW GEO MODELLING if I heard correctly from the 22.1.21 interview?

OBSERVATION:
XTR has a mkt cap of £31m+ @5p.

DEPTH - From the convo between Zak & C.Bird, there may be MORE TO COME RE: DEPTH?

GRADES: Straits Resources who owned Bushranger in 2006 [$982m rev] said that : Drilling has defined a LARGE CHALCOPYRITE COPPER SYSTEM...WITH VERY CONSISTENT G R A D E from surface. Mineralisation identified has a gentle westward plunge that increase in T H I C K NE S S with DEPTH. Expl work done by Straits defined the Racecourse prospect, A LARGE UNIFORM MINERALISED SYSTEM OF OVER 1.5KM X 1KM with the potential to be a LARGE COPPER MINE. The IP ANOMALY is OPEN to the North and 1 drill hole 100m North of the IP coverage appears to CONFIRM the continuation of the copper MINERALISATION."

MY OBSERVATION:
The Racecourse ore-body appears to be not complex [Straits said uniform]? From the geo modelling, even Straits could tell then that it increases in THICKNESS [width] and the STRIKE appears to be BIGGER than 1KM per Straits. The only thing Straits & AA was NOT aware of was the DEPTH. XTR*S EXPERTS MAY BE ABLE TO LOCATE FURTHER DEPTH? Hopefully they can. So, this 6 drill [Hole 1 - 940m continuous mineralisation] is one in which it appears to be NOT as complex[SP] as Havieron?

Few co*s trade at £30m for this stage of development in the exploration and drilling given there is ALREADY A JORC for Racecourse [owned by Straits, Tooday, AA]. So, no one can say its X or Y?

News, Sat 23 Jan 2021 @3pm [Cant edit as page freezing up].

ONE FOR THE ARCHIVES:
Colin Bird interview @Share-Talk, Fri, 22 Jan 2021

Per 1Plus1: "I heard the same. Thought he said 0. 5 - 0. 6 % PER THE XRF."
@15:31, 22.1.21
[REFERRING TO GRADES AT RACECOURSE -BUSHRANGER, HOLE 1]

Per Jamiesiecake: "Hit another patch of COPPER MINERALISATION what they thought was the END - was 0.56%."
@ in this same thread.

Another patch????

On Twitter:

"Independent consultant. I hear the name "Menzies". Likely to be
DR CORBETT MENZIES, THE WORLD RENOWNED EXPERT ON COPPER PORPHYRY.
He LIKED IT & he RECONS ITS B I G ."

Interview post RNS @1.46pm, Fri, 22 Jan 2021
Link: https://twitter.com/ResourceTraderX/1352644984915169284

I have listened for the 1st time and I think Mr Bird said drilling starts tonight. Also, he mentioned JEREMY READ, New Director, XTR, Ex-Head of Exploration, BHP AUSTRALIA/AFRICA in the context of experts and helping with the mkt comms?

Others can confirm.

Other data 110-1050m Bushranger-Racecourse. 4 MORE HOLES TO BE DRILLED @700M [RNS]

COULD*NT CATCH ABOUT DEPTH - HOW FAR DOES IT GO? TIME WILL TELL.[Colin Bird]

News, Fri 22 Jan 2021
@4:50pm
Went to have a rest and lunch and missed it all. LoL

From the London South East archives:
"PLACING OF THAT SIZE...£5m..

Anyway, CB now has a clear shot at FIRMING UP A TIER 1 cu deposit in a great postcode.
I wish him & XTR all the est of luck, sincerely." Dated 21 Jan 2021 after the XTR 20 Jan 2021 RNS stating 940m of continuous mineralisation ie 1100m depth reached at RACECOURSE-BUSHRANGER.
By olderandwiser on the subject matter of the placing of £5m to fund Racecourse further.

Link: https://www.lse.co.uk/profiles/olderandwiser
or https://www.lse.co.uk/profiles/olderandwiser/

4.5p raise was 24% premium.

At Solgold, they started with 1.5p but Mather wanted 2p. He didnt get it. As L2Analyst said, co*s usually have to raise at a DISCOUNT.

WHAT IS EXPECTED?
Anglo-American did not sell off the prospect but they gave it on the condition/agreement of a buy-in-option or mine. Often, they just sell it off ie Havieron - Newcrest just either sold it or let it go ie licence and it was picked up. That was how Havieron was bought from a ex-owner.

AA did NOT know about the DEEPER ORE BODY beyond the MODELLING.

AA therefore specified 450Mt approx @0.44% cu or cu equiv - please check.

So, the grade will be either SPOT on with the XTR RNS modelling or not and by what VARIANCE?

Therefore, upon the "STAGGERING, REALLY STAGGERING LENGTH OF THE INTERSECTION", a copper porphyry expert was initially CONSULTED and now ENGAGED ie hired to do the NEXT PLANNING HOLES & D E V E L O P M E N T.

That is the sequence of events.

News, Fri 22 Jan 2020
For BALANCE & PERSPECTIVE from the RNS, MODELLING & HOLE 1 RESULTS THUS FAR.

RACECOURSE
"All the Cadia system has been covered by a heli-magnetic and radiometric survey in 1966.
DIRECT DETECTION of ORE ZONES with GRAVITY does not appear possible in the CADIA SYSTEM.

Cadia-Ridgeway [Newcrest is next door to Racecourse-Bushranger]

The author also goes on to say that Cadia drilled 222m approximately and later 440m.

I did not take down the link but copied the reporting. However, it may be possible to recall it up if one types up the above?

That is why the COPPER PORPHYRY EXPERT IS BEING CALLED IN.

Colin Bird*s latest: "1100m -CONFIDENT BIGGER - CADIA RIDGEWAY, NORTH PARKES" was the last interview with Share-talk [at 520m Mr Bird compared Racecourse to BODA].

So, the expert will be looking into this. Mr Bird must have got that from someone ie the CONFIDENT BIGGER QUOTE?

Fri, 22 Jan 2021 [Before XTR *s Mr Bird updates us further as he said with a quote from the copper expert now engaged]

montyboz

As I pointed out from the MODELLING, the brownish green area is the lowest denominator.
That appears to have been spot on with the first 28m tested and XRF ie MODELLING ACCURATE.

So, there will be BROWNISH GREEN
LIGHTER GREEN
& DARK GREEN

MODELLING VS ACTUAL RESULTS FROM PAST DRILLING.

Hence, we go with the ACTUALLY DRILLING RESULTS from the past to illustrate initially the
LOWER GRADE, MEDIUM GRADE & "HIGHER GRADE" as in Racecourse.

That is to manage EXPECTATIONS.

Overall, like Solgold, NOT ALL THE HOLES WERE WORLD CLASS - only a handful ie 5,9, 12 etc.
It will be OVERALL TONNAGE THAT IS NEEDED - COLIN BIRD SAID WE HAVE DEPTH, NOW DRILL TO FIND WIDTH AND GRADE.

Ref: "Staggering, Really Staggering." [Colin Bird in specific reference to LENGTH OF INTERSECTION ie 1100m total depth. From this total depth, Mr Bird then went on to say: "1100M - CONFIDENT OF BIGGER: CADIA RIDGEWAY -NORTH PARKES."

I did NOT read Mr Bird*s implied clues of grades.

PERSONALLY, I always MANAGE EXPECTATIONS.
BUSHRANGER JORC @ AVERAGE GRADE 0.44% cu and smallish gold grade.
BODA @0.35% cu average or 0.35% cu equivalent.
AA expects 440Mt @0.44% cu [kindly check XTR*s Apr 2020 Presentation]

However, AA DID NOT KNOW ABOUT THE DEEPER ORE-BODY [232M MORE THUS FAR].

montyoz
Y
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montyboz
said 0.5-0.7 high grade [that*s considered high grade for XTR Bushranger previous drilling]

Noo, 0.9%? Where?

Mr Bird said in the interview he will "QUOTE" from the expert.

Mr Bird said they engaged a porphry copper expert [super duper] after "staggering, really staggering" 940m intersection /1100m.

XTR said they have XRF^ed the core from Hole 1, Bushranger [under XTR].

It is wise not to release XRF results as it is not normal practice and therefore in the latest RNS, it is said that they will be sent for assays at the LAB.

Meanwhile, there is NOTHING for the expert to see EXCEPT XRF - he may want to check it again if he inspects the cores. Dr Steve Garwin even checks LAB ASSAY results and found some wrong and so there was re-statement.

So, there is obviously an initial opinion otherwise Mr Bird cant say in the interview he will "QUOTE" from the expert.

Only then, was the EXPERT [COPPER] ENGAGED. The sequence appears that the expert was CONSULTED FIRST but NOT engaged? So, XTR*s PhD Geo and others may have an idea and so
they would need further affirmation, confirmation and expertise.

How did Colin Bird say in the interview: "1100M -CONFIDENT BIGGER-CADIA RIDGEWAY -NORTH PARKES." [This is the latest after the 940m continuous mineralisation and last RNS on 20.1.21. The BODA ref was only when XTR Bushranger hit 530m of continuous mineralisation].

The expert, NOW ENGAGED by XTR will PREPARE DRILLING DIRECTION [NEXT] & D E V E L O P M E N T.

I doubt we will ever see the DETAILED REPORT. In all the co*s like Havieron, Alpala, the detailed Dr Steve Garwin report [Alapala] was NEVER SHOWN.

Only the CEO gave an outline of the potential etc.

Hope that clarifies.

That is my take of events but DYOR and others may differ of the chain of events.
Fri, 22.1.21

montyboz
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Better with INTERNAL high grade 0.5-0.7 as shown in actual drilling previous. YES, its
M
A
S
S and maybe a SURPRISE OF THAT EXTRA ZONE - will it extend further LATERALLY-only the expert can tell or guess or ? from modelling and benchmark examples ETC.

WORLD RENOWNED COPPER PORPHYRY EXPERT
Turns out to be: Dr Steve Garwin -"one of the world*s foremost porphyry experts. Involved in Batu Hijau and discovery of world class Alpala."
[AT TOP OF PAGE IN DARKENED LETTERS AND C.V]

LoL!

Other than Dr Garwin, the rest like Dr Sergei Diakov are via PR of co*s like BCM & Imants Kavalieris Asia Pacific as in Kincora Copper.

HIGH GRADES
To get high grades, from what I understand one needs to hear the words CHALCOCITE etc.
High grades as in non-porphyries etc.

From PorterGeo, it said that for CADIA-RIDGEWAY, there is NO SUPER-GENE enrichment.
Super-gene is surface and if deeper it is hypogene enrichment.

So, from the RNS I did not hear the words chalcocite? [20.1.21 XTR]

So, need to manage expectations. :From Tooday, the high grade is seen but not the type one would think of 2%++++?

Just have to wait.

montyboz
DEEPER ORE BODY AT RACECOURSE
The actual drilling which ended at around 1,100m [940m of continuous mineralisation FROM 110m] shows and proves there is a DEEPER PART to the orebody which exceeded by some 232m.

From the TOODAY ASX announcement, they showed a few drill holes at Racecourse and presumably the better or best ones? From what I can see, the best from recall was 150m OF MINERALISATION. Tooday in 2007 bought Bushrangers from Straits Resources [$982m rev].
Tooday also said that Racecourse was ONLY DRILLED TO 350M.

QUESTION: SOUTH ?
If you are referring to the XTR RNS MODELLING OF RACECOURSE, then they were NOT aware of this deeper ore body PAST by 232m from recall.

COPPER EXPERT [PORPHYRY]
Mr Bird said he was a "super duper" expert in porphyries. How many experts can there be?
Few. Some will be experts in South America and others in other areas.

The expert will try to initially MODEL RACECOURSE to another typical example [bench-mark].
Then, probably refine it with the data and technical data. Finally, PLANNING THE HOLES in order not to try to poke around. BODA took time FROM DISCOVERY HOLE 502m to some time later to hit the 1,1,67m intersection and even longer to hit the high grade zone in Jan 2021. Here, RACECOURSE HIT THE 1ST TIME AT 940M - THAT IS THE AMAZING PART - Hit bettered BODA*s of 502m, almost EQUAL BODA*S 1,167m and IDENTIFIED THE HIGH GRADE ZONE.

Finally, with MODELLING, DATA ETC - the FINAL DETERMINENT IS THE DRILL.

Hence, why the expert*s report is of interest. IN SHORT, THERE IS A DEEPER ORE BODY
BUT AT THE MOMENT IT WAS NOT MODELLED SO HAVE TO AWAIT THE EXPERT*S COMMENTS ETC.

News, Fri, 22 Jan 2021.

Whilst Mr Bird compared Bushranger v BODA initially when Racecourse hit 502m, he has now moved on to: "1100m CONFIDENT BETTER , CADIA-RIDGEWAY , NORTH PARKES."
I found out that North Parkes was owned by Rio. Boda is North of Cadia-Ridgeway in terms of geological setting. Only North Parkes [starting from left] , Cowal, Cadia Ridgeway and Bushranger are in the LACHLAN TRANSFER ZONE.

So, as a balance, one has to look more deeply at North Parkes vs Cadia Ridgeway vs Bushranger to see if there is a common feature at depth. At Alpala, the CEO [not Mather] said it increases with depth but NOT at the high grades. Yes, higher grades but not high as in ?

So, we may have to do more research but I cant be bothered at the moment.

T
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C
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catsize

The link again: https://twitter.com/ryantrading9/status/1348618974913851392
dated 11.1.21

The link I gave was from the screenshot which obviously will not work that way. So, above I have given the link to the actual tweet with the screenshot. To see the XTR Model Map from the RNS, DOUBLE CLICK on the map so that it ENLARGES.

BEFORE NEXT WEEK*S XTR BUSHRANGER REPORT TO SHAREHOLDERS [from Mon 25.1.21]
-After Copper Porphyry Expert*s Report [Engaged] to plan holes & development.

<>OBSERVATIONS OF 940M CONTINUOUS MINERALISATION RNS, 20.1.21<>
1] "Mayes: That drill hole reminds just reminds me of a v large Solgold..."

Reply: " Harald Hadrada: Colin might of got very lucky its an absolute MONSTER STRIKE DEPTH IN LENGTH OF CONTINUATION." 43 mins ago, Fri, 22 Jan 2021.
Link: https://twitter.com/Robin25461631/status/135259716067135491

<>WHAT COLIN BIRD, EXECUTIVE CHAIRMAN, XTR BUSHRANGERS SAID @LAST 3 INTERVIEWS."<
Interview with Share-Talk, 17 Dec 2020: Drilling deeper like the good o*le days of Solgold.

Interview 12.1.21: "Bushranger vs BODA: Pretty much the same, better. What *s their cap? $400m."

Interview 18.1.21: " 1, 100 metrres : CONFIDENT BIGGER: CADIA RIDGEWAY, NORTH PARKES SOLD TO CHINESE FOR $800M."

<>BUSHRANGER MODELLING VS 940M OF CONTINUOUS MIN-RNS 20.1.21
-Exceeded expectations by some 232m of mineralisation. Kindly check as from quick recall.

From the RACECOURSE MODELLING MAP SHOWN IN XTR*S RNS, CO WAS NOT AWARE THAT THE DEPOSIT WENT SO FAR.

NEXT WORKS PER XTR:
ESTABLISH WIDTH & GRADES. To do this, one can see that logically next drilling must define WIDTH that shows it is SO MUCH BIGGER as it DEEPENS [also stated by Bird].

GRADES: XTR*s MODELLING MAP IS COLOR CODED: Brownish green [lowest], Lighter Green and Dark Green. One can then check the ACTUAL HOLE 1 DRILL UNDER XTR AGAINST THE FORMER DRILLS & ASSAY RESULTS = G RA D E S ARE OBVIOUS. Brownish green appears 0.3% cu copper [lowest color code].

BIRD: "MATERIAL:EDGE OF HIGH GRADE ZONE." Its to the right and very surfaceish, color coded DARK GREEN.

MORE TO COME?
Looks like the copper expert engaged to do the further planning will have to do NEW MODELLING FOR THAT EXTRA 232M OF UNKNOWN DEPTH DEPOSIT. Only by further drilling, say , even 1 drill will tell if the body extends even MORE LATERALLY or not? In simple terms, the old MODEL was NOT AWARE OF THIS LOWER DEEPER BODY.

Just a summary. Sorry my page keeps freezing so hence sometimes not changing cap to no caps.

News, Fri, 22 Jan 2021.
DYOR.
History records PRE-REPORT OBSERVATIONS ONLY.

P.S.

The LOWEST COLOR CODE: Browish Green = 0.3% cu.
LIGHTER GREEN and DARKER GREEN - HIGHER THAN BROWISH GREEN - ALL THE HOLES
A S S A Y E D WITH GRADES SHOWN as they were past drills.

So, FROM THE XTR OFFICIAL MODELLING RNS FOR BUSHRANGER.

LoL - naysayers cant argue with actual TECHNICAL DATA, ASSAY & GRADES from the MODELLING and ACTUAL HOLE RESULTS.