Member Info for news

CADIA-RIDGEWAY {Newcrest, Lachland Fold, NSW, Australia]

"ORE DEPOSITS:
The Cadia-Ridgeway C L U S T E R... 3 K M X 1 . 5 K M & UP TO A D E P T H OF 1, 6 0 0 M."
[Ref: PorterGeo Database www.portergeo.com.au/database/mineinfo.asp?mineid=mn228 ]

My Comment:
Cadia Ridgeway [Newcrest] is NEXT to XTR*s Racecourse-Bushranger, Lachlan Fold, NSW, Australia.

XTR RACECOURSE-BUSHRANGER [transfer lachlan fold belt with Cadia-Ridgeway]

Hole 1 [Phase 1] - Colin Bird, Share-Talk interview two days ago said 5 3 0 METRES OF CONTINUOUS COPPER MINERALISATION [78m-607m deep & could be 1,000m by Mon 17 Jan 2020].

SO, RACECOURSE - BUSHRANGER IF ON THE SAME GEO LEVEL AS CADIA-RIDGEWAY COULD REACH 1, 600 K.M? Cadia-Ridgeway therefore EXCEEDS BODA which reached 1,100m?

News, 14 Jan 2020.

"ALKANE - B O D A."

A KEY CATALYST has been a N E W D I S C O V E R Y announced on 9 Sep 2019 at Alkane BODA prospect ....that returned S I G N I F I C A N T gold-copper porphyry mineralisation, including

--------5 0 2 metres @ 0. 4 8 g/t au GOLD & 0. 2 0 % cu COPPER .....[inc 12@3.28/0.67]-----
THIS INTERSECTION has been described by some as THE BEST PORPHYRY exploration D I S C O V E R Y in BROADER LACHLAN FOLD BELT, a w a y from the 3 mines [CADIA,COWAL & NORTH PARKES ] in the last 20 years."

Ref: "Kincora secures strategic licence in AUSTRALIAN*S LEADING PORPHYRY BELT."- Kincora RNS/ANN, 21 Nov 2019 [type this title into the search engine to read and check]

My Comment:
As said RACECOURSE-BUSHRANGER is in the SAME Lachlan Fold Belt with North Parkes, Cowal & Cadia Ridgeway whilst BODA is outside of this particular belt ie broader.

One will see BOTH CADIA-RIDGEWAY & BODA*s COPPER GRADE IS 0.25% COPPER & 0.2% COPPER respectively v s Racecourse [Hole 1-28m XRF 0.3% CU COPPER inc 2m @0.6% copper. However, Racecourse*s 71Mt JORC shows that gold grade is not high, hence why I observe that Racecourse is MORE of a COPPER prospect? So, I am not expecting ...

BODA DISCOVERY
Colin Bird said in his interview two days ago: BUSHRANGER VS BODA -PRETTY MUCH THE SAME / BETTER.

HOLE 1-RACECOURSE HAD ALREADY REACHED 5 3 0 M OF "CONTINUOUS AND SIGNIFICANT MINERALISATION" per Colin Bird [Ref: Interview & last RNS] at the time of the interview 2 days ago. By Mon, it could reach 1,000m like BODA.

So, hence why the Hole 1 Bushranger under XTR - DEEPER DRILLING [JORC 71Mt...] could be a indicative hole [3 - Phase 1] ?

News, Thur, 14 Jan 2020.
DYOR.

"MAJOR MINES & PROJECTS/CADIA."
https://miningdataonline.com/property/185/Cadia-Valley-Operation.aspx#Geology"

" A T O T A L of 1 7 M t G R A D I N G 0 . 5 7 g/ t Au GOLD & 0 . 2 5 % cu C O P P E R.."

"Mining methods: Truck & Shovel/Loader, BLOCK-CAVING & SU-LEVEL CAVING."

"RIDGEWAY DEEPS Lift 2 Blockcave -operational targets for 8 M T/a."

My Comment:
So, no underground mining - Colin Bird in his interview two days ago mention block-cave etc.
I was asked about MT - from the above one can see how MANY MT Cadia & Ridgeway had.

Lastly, it appears that RACECOURSE - BUSHRANGER IS MORE OF A COPPER PROSPECT from what I have seen. Hole 1 RACECOURSE [under XTR] 28m XRF - 0. 3 0 % cu COPPER including 2m at 0. 6 % Cu COPPER.

Colin Bird*s said interview with Zak [Share-Talk] two days ago said that the mineralisation of Bushranger is "CHARACTERISTIC OF THE LACHLAN FOLD, NSW, AUSTRALIA".

So, Racecourse Hole 1 [XTR] for just the upper part at 28m @ 0.3-0.6% cu copper COMPARES with CADIA as above at 0. 2 5 % cu COPPER.

So, that is the grade for copper at Australia*s largest deposit.

News, Thur, 14 Jan 2020.

By Campbel Mackey, John Holiday, David Close & John Bishop.
https://tanfoline.com/doi/pdf/10.1071/ASEG2001ab082

"INDUCED POLARISATION- Subsequent D E E P E R DRILLING D I S C O V E R E D the Ridgeway O R E BODY, at D E P T H S b e l o w 5 0 0 M ETRES."

"Helimag & Radiomagnetics- 3 D block model ...took in the terrain.
Cadia-East, Ridgeway.

C H A L C O P Y R I T E is the DOMINENT C O P P E R MINERAL."

My Comment:
In the interview with Colin Bird two days ago, Zak asked: You are NEXT to the biggest mine?
The only biggest nearby is Newcrest*s CADIA-RIDGEWAY - to the North-West of XTR*s Bushranger-Racecourse.

As the previous owner said via an ASX ANN/RNS, Racecourse - Footrot & WhiteSprings at Bushranger, Lachlan Fold, N.S.W. Australia was found by the above methods.

The academic article above is relevant as Bushranger shares the same Orvidian Volcanics belt on the "Lachlan Fold Transfer Zone" [marked in XTR*s Bushranger Apr 2020 Presentation.

Hence, the reason why XTR is DRILLING BELOW 5 0 0 m. XTR*s Apr 2020 presentation also mention [link posted before] that Bushranger feature has the potential to host CLUSTERS similar to Cadia Ridgeway. Please check the exact words.

Hence, why HOLE 1, XTR BUSHRANGER IS GOING ALSO GOING BELOW 500M [or rather 350m mentioned by the previous owner] as what BODA did.

News, Thur, 14 Jan 2021
DYOR.

P.S.

That is the schedule, hence why on the other XTR forum, one poster is cognisant that NO NEWS is good news as by Monday, Bushranger could have hit 1,000m like BODA otherwise they have to stop if no mineralisation continuing and inform the mkt asap.

From the free and public archive of QueensLandWinner:

"XRF cu Results / Au Results: Personally, I feel Colin Bird will release copper results as soon as he has them. Looking at mkt volumes over the past couple of wks I*d say the MARKET MAKERS BELIEVE THAT TOO. Then once MOMENTUM is underway AU RESULTS will add further momentum to the UPTREND. AFTER ALL BUSHRANGER ISNT EVEN P R I C E D IN TO THE XTR RESOURCES MKT CAP NOR IS Z A M B I A." 21 Dec 2020
---
"Appears Mr Colin Bird*s LOW RISK STRATEGY may have FORCED THE MM*S to take such drastic measure SINCE THERE IS N O N E E D FOR A P L A C I N G how else WHERE THE MM*S GOING TO CREATE A MARKET." 18 Dec 2020

Link: https://www.lse.co.uk/profiles/queenslandwinner/?page=2

My Comment:
I remember that Queenslandwinner*s 2 post as above when I first read it. So, I checked and my recall was correct.

This was when QLW owned the stock but now has changed his or her mind on the SAME SUBJECT MATTER. Yes, QLW is cognisant that 1] Colin Bird is taking a LOW RISK STRATEGY,
2] MM*s know it too per QLW = NO NEED FOR P L A C I N G. 3] MKT CAP OF XTR NOT TAKEN IN FOR BUSHRANGER OR ZAMBIA. 4] MOMENTUM IS UPWARDS - copper results have been released and now waiting for the initial gold assay results as QLW said. QLW NEVER TALKED ABOUT FUNDING FOR THE BUSHRANGER PROJECT of which was known that there would be Phase 1 & 2 even early on. Interesting what QLW said then.

WED, 13 JAN 2020 - XTR MARKET FOR STOCK
We saw that all day, the market was trying to get stock. Then , I said that the market was offering a HIGHER PRICE for BLOCKS and Captain Bob confirmed that. By then, it was almost 4pm and after this post, the market QUICKLY MARKED UP THE SHARES FOR THE SELLER AND THEN ANOTHER MARK-UP.

COME TOMORROW , THUR, 14 JAN 2020, RACECOURSE-BUSHRANGER WILL BE AT 7 0 0 METRES which means that it would comfortably BEAT BODA*S 502M RESULT QUOTED BY EDWARDS AS THE RE-RATING EVENT [£140m from recall of the post earlier in the evening today] so kindly check. XTR would have had 700m depth MINUS 78 METRES from surface === 6 2 2 METRES OF CONTINUED COPPER MINERALISATION. ==== CaveatEmptor can check this cals.

Oh, come FRI, 15 Jan 2020, BUSHRANGER WOULD HAVE HIT 780 METRES = 7 0 2 METRES OF MINERALISATION.

Then, once the stock market closes, OVER THE WEEKEND AND MON PER COLIN BIRD - Bushranger would than be close to 1,000 METRES WHICH IS THE SAME [APPOX] AS BODA*S DEEPEST HOLE. --ALL BENCHMARKED BY COLIN BIRD HIMSELF IN 2 LAST INTERVIEW ABOUT BUSHRANGER VS BODA WITH COMMENT: " S A M E , B E T T E R ."

I posted BODA*S grade details for the 502m hole and Edwards did so too, so kindly look - Racecourse*s initial Hole 1 XRF beat the COPPER RESULTS.

BODA*s 502m hole result caused a RE-RATING EVENT TO THE TUNE OF £140M as analysed by Edwards via Stocky 1 who posted what was on Twitter re: XTR and BODA.

Sorry for caps etc as page is freezing and keys as well.

W

The price to sell a block is higher than a smaller lot.
So, appears they want stock.
Not sure why no synthetic stock - QE?

captainbob:
We must be having the same broker.
Yeah, the bigger the block the higher than a small holding which is above normal mkt size.
Thank you for checking.

In adding to the conversation:

At UK largest listed stockbroker, the advertised price is 2.3p to sell and 2.35p to buy [not live price] which is the same as above this page [LSE XTR for free].

Live price - I just tried for a few minutes and the MM has quoted a SELL PRICE HIGHER THAN THE BUY LIVE PRICE. Also, they will take MORE than NORMAL MKT SIZE. The normal mkt size is shown on this page. So, if there are forward sales as being postulated without evidence [no one will have that info], then the MM*s wont want to buy above mkt size nor QUOTE a SELL PRICE HIGHER THAN THE BUY PRICE? Wed, 13 Jan 2020 @2:35pm. Please check.

Gixxer-600
In answer to your question: The minimum is 2MT whilst the JORC is 71Mt [started at 21Mt].

If what Colin Bird is saying in his last 2 interviews, then it appears that he compares RACECOURSE - BUSHRANGER with BODA {Alkane -$400 mkt cap although the actual mkt cap is higher at $500m+ but the BODA component is 75c per Edison].

From the CEO of Alkane on 9.11.20 per the ANN/RNS, he thinks they have a TIER 1.
Alpala is a Tier 1 with 23 MOZ of gold and 9MT of copper. Racecourse appear to be more copper but we, shareholders will know more when the assays come out for gold as well.

So, in any Tier 1, the size of the potential deposit is pretty big if one just uses Alpala.

So, hope that answers the question. It is far too early to ask this as Mr Bird will let us know how he wishes to proceed after Phase 1, 3 holes and then after all goes well, Phase 2 - 3 holes.
Then, XTR will update the Racecourse JORC. Then, as Mr Bird said he will let Australians know about Racecourse. The biggest PR will come especially if we [Racecourse] can hit 1,100m equivalent to BODA which made big news or to EXCEED?

Once there is PR, then like Havieron, wonga *s ears might prick up and then who knows if the drillers will take stock etc like Alpala and Havieron or there can be X wonga offered like Havieron just got £50m loan from Newcrest.

So, 1 step at a time. Fri is the day as per CaveatEmptor said in which we hit 815m target and then oooh, 1000m thereafter as norm if mineralisation continues. Hope that clarifies.

P.S.

So, NO UNDERGROUND mining ie U/G but BLOCK-CAVING per Mr Bird, Executive Chairman, XTR in his interview yesterday on 12.1.21.

To add to the convo:
Colin Bird said "BLOCK-CAVING - cheap."
Ore body is LYING ON ITS SIDE - like an onion, peel layer by layer ie progressive.
My understanding is that it is not done all at one go but progressively so even cheaper?

The Lachlan Fold, NSW, Australia ore bodies are "PENCIL" structures per the diagram shown by XTR in their Apr 2020 presentation of Cadia-Ridgeway. Kincora Copper [TSX] - Technical Director who discovered Cadia said that the Lachlan Fold ore bodies are "PENCIL" structures. From my own observation of the diagrams shown, it looks more like a stalamite? It may be "pencil" but not evenly shaped.

So, the RACECOURSE ore-body appears to be VERY ATTRACTIVE in terms of cost in block-caving and ease + its rather unique unless there are others like it but no mention by Kincora.

Lastly, I was so pleased to hear that the ore-body is LYING ON ITS SIDE from Mr Bird-that means that in drilling it will HIT the ore body more easily rather than try to hit the pencil structure further down and then to find the fringes so to speak or rather to define the ore body? Example, Havieron is horse-shoe shaped which means that its two crescent at the side like. Hence, why SP Angel said that Newcrest would be able to handle the complex geo. Here, at Racecourse, the ore-body lying on its side is relatively more simple to hit with more ease and less poking around for definition?

13.1.21

P.S.

Just in case, newcomers are not aware, Hole 1 - 28m XRF reading was 0.3% cu COPPER with 2m at 0.6% cu copper and cut-off 0.3% cu.

XTR RNS yesterday said: "SIGNIFICANT COPPER MINERALISATION."
Colin Bird*s interview yesterday said: "530M of CONTINUOUS MINERAISATION."
From 110-607m yesterday, with 530m of continuous mineralisation.

BODA vs RACECOURSE HOLE 1
965.7m @ 0 . 2 1 g/t au gold & 0 . 1 1 % cu COPPER. Previous hole: 1,100m [DEEPEST] intersection.

SO, 0.3% CU COPPER INC 2M AT 0.6% COPPER [28M XRF] means 3 TIMES MORE THAN BODA. The gold has been sent for assay at the lab as well as the rest of the 530m core.

See a lot of new names including cat from Mike Moles last drill elsewhere.

From OneDayRodders [not me]:
"I would be comfortable with no news for the rest of THIS week as should INDICATE STRIKE of 1,000m. Sp has a good chance to rise ..by Fri in anticipation."

---
CaveatEmptor said that tomorrow or early Fri, Racecourse-Bushranger, NSW, Australia should hit the target of 815m. Yesterday, Colin Bird said that they were at 530 M OF COPPER MINERALISATION per his interview with Share-Talk. So, today is 80-90m more = 610-620m.

So, if early Fri, Racecourse reaches 800-815m, then Fri afternoon + Sat+ Sun+ Mon [80m a day x 3 days+ = more than 240m], it COULD REACH 1,000 METRES PLUS.

---Reference---
"GOLD : ALKANE *S B O D A GETS BIGGER AS THE AUSSIE DOLLAR GOLD PRICE CONTINUES TO RUN UP." - Stockhead.com.au , 22 Apr 2020. Google this title to read and check.

"BODA: Previous Hole 1, 100 M E T R E S .
Current: 965.7 Metres @ 0 . 2 1 g/ t au GOLD & 0.11 % cu COPPER."

My Comment:
Colin Bird*s interview yesterday with Share-Talk : He said RACECOURSE - BODA: "SAME, BETTER." So, hence why talking about BODA reference.

The DEFINING DEEPEST HOLE at BODA was therefore 1, 1 0 0 metres which made the news in Australia for the Lachlan Fold, NSW. Australia.

IF RACECOURSE HITS M O R E T H A N 1 , 1 0 0 M , it should also make the news for Lachlan Fold. Mr Bird said its HOW FAR IT WILL GO and he is excited per the said interview.

News, Wed, 13 Jan 2020.

Relating to 101 Hole 1 - that is sometimes known as the discovery hole in some cases.
In so far so the Stockhead.com.au article on BODA that I posted yesterday, that 502m hole was the defining re-rating hole. Hither to, as seen in the Alkane presentation, their holes were not as deeply tested.

As for Kincora Copper on TSX [Technical Director who discovered Cadia, now belonging to Newcrest], their recent drill resulted in the share price going up by some 57%+ in 1 day [check the graph] recently. The next day, it went up further to some 9-10% from recall. Oh, there was no XRF reading just that a DESCRIPTION of mineralisation.

In this case, Colin Bird said in yesterday*s RNS, there is "SIGNIFICANT COPPER MINERALISATION" and more importantly, "CONTINUOUS MINERALISATION of 530M" in his interview yesterday.

He further elucidated the GRADES for copper worldwide coming from porphyries mainly now at 0.2, 0.3 and 0.4% copper cu. Racecourse*s first 28m by XRF is 0.3% cu copper and 0.6% cu for 2m [inc] with a cut-off at 0.3%.

So, given Colin Bird was Head of Planning etc at Anglo-American [Mining Engineer] and the fact that there is a PhD and a young Geo at site + CORE PICS, then it goes to follow that it is checked. As for expense, a PhD on site means that he may be doing his PhD on Racecourse etc akin to Dr Rohlach of Alpala who did his PhD at Bukit Tujuh. As for the young Geo, one has to think that Colin Bird assembled the team rather than hire a FIRM to do the drilling which is more costly.

FOOTROT -Bushranger
From the TDR/ASX Ann of 2007 which I gave a link to, it said that the IP etc has been successful to identify Racecourse and Footrot + Daisy Springs at Bushranger.

Yesterday, Colin Bird mentioned Footrot in his interview.

That is not under the Anglo-American agreement from what I perceive only from the XTR Apr 2020 presentation. We, shareholders need to ask to make sure that we got it right.

So, relating to Footrot, just like Havieron initial success, the other prospects nearby have now been JV*ed also by Newcrest. There is nothing to stop Footrot being JV*ed. Havieron has just received a £50m loan from Newcrest and earlier the drillers took shares. So, options.

As for Racecourse, Anglo-American has an option to buy in 80% - XTR could sell the 20%?

So, lots to look forward to. Usually, per convention, the 1st hole is the one that is telling and indicative per norm.

SUMMARY:
XTR*s mkt cap is £15 million at 2.4p-2.45p [not live but advertised as above].
It has a JORC for Racecourse and a MAJOR on board with an option to buy 80%.
Racecourse is in Australia [NSW] and more specifically the hot Lachlan Fold Belt = Tier 1 jurisdiction.

Other co*s listed on AIM have a mkt cap of £25m with no drill yet on their Baileston prospect in Victoria and hoping for a JV on another prospect. Another co has a mkt cap of £26m with 9 projects but nothing yet.

So, like Alpala and Havieron, once the initial results comes in the sp, according to norm reacts. More so, in the case of XTR which has the lowest of mkt cap compared to others.

Given that QLW said that his/her past investment was Alpala, then it goes to follow that the mkt cap increased and despite funding later, it had a very positive share price/mkt cap in the 3 figures ie £400m . BODA , Lachlan Fold is the same as Colin Bird mentioned Bushranger -Racecourse is "SAME, BETTER" in 2 last interviews.

So, that is perspective. Same for Havieron.

News, Wed, 13 Jan 2020.

Jezzoo

If the mineralisation goes beyond 1,500m at this 1st Hole at Racecourse, Bushranger, it serves the purpose of confirming initial data that the ORE BODY is lying on its side and to what DEPTH = initial definition.

In so far, as the next x years, it took so long for Alpala because they not only drilled the main body but the satellites as well. In their case, they want to go it alone so they are not just testing drilling or in XTR*s case EXTENDING the JORC update.

Colin Bird has pointed out that they have a buyer ie AA in 2 of his interviews [last] from recall. The agreement is on the XTR Apr 2020 Presentation page as to the details. So, RACECOURSE [this is the prospect being extended at Bushranger] is under this agreement. At this time, we shareholders are not privy to what they are chatting at this time given the pivotal moment.

Like BODA, they have achieved $400m cap just BODA which was mentioned by Colin Bird, Executive Chairman in his interview before yesterday*s. This is norm as it follows the LASSONDE VALUE CURVE in that discovery or extending a prospects ADDS value which is normally reflected in the sp. Same for Alpala - the share price rises from shell mkt cap of £8m and beyond as discovery and holes come in.

Hello CaveatEmptor,

YES, AGREE TOTALLY ie "CONSIDERABLY DEEPER MINERALISATION THAN EXPECTED."
Re: Racecourse hits 815m tomorrow or early Fri - Good to know you are listening and helping out relating to the points as its hard to listen and take notes.

Your opinion-Mineralisation extends beyond 814m - sp could "explode."

REASON:
We [shareholders] are aware that BODA*s specification per the Stockhead.com.au article is that they are at 1,000m target [achieved 1,100m+].

Colin Bird said HOW FAR GOES IT GO?
Reason: If it goes to 1,000m say, then there could be nearly 890m of mineralisation [from 110m] at Racecourse [Bushranger licence].

At 1,000m, they will again take DOWN-HOLE DATA and GO BEYOND if the data shows there is more to go. It is NORM they will only STOP DRILLING IF MINERALISATION ENDS OR TAPERS OFF.
If any prospect can reach 1,000m, they will usually try to reach for 1,450-1,500m. If that continues, they go to 1,850m or just a bit more but SHORT of 2,000m. This is because BEYOND 2,000m, it will be for another day. They do not want to waste the opportunity, hence why its going further.

FURTHER MINERALISATION
If it is only 890m of mineralisation at 1,000m [from 110m], going to 1,500m means another 500 METRES MORE == 5 0 % MORE MINERALISATION and so forth. More mineralisation means MORE MONEY AS THE DEPOSIT IS BIGGER? Yes, if NO NEWS, IT IS ABSOLUTELY GOOD NEWS as by convention, they only STOP if NO MORE MINERALISATION.

BIG NEWS
It will be big news in the Lachlan Fold, NSW, Australia if Bushranger or rather the Racecourse prospect E X C E E D S BODA [Ref by Colin Bird, Executive Chairman re: Racecourse is the same,better per yesterday*s interview.]

RACECOURSE ORE BODY
Mr Bird said yesterday that the Racecourse-Bushranger ore body is LYING ON ITS SIDE. I posted from the XTR Apr 2020 Presentation that the diagram of Cadia-Ridgeway shows "PENCIL" structures. Kincora Copper*s [TSX] Technical Director who discovered Cadia said that in the Lachlan Fold the structures are "PENCIL" shaped.

Mr Bird explained that an ore body on its side is LIKE AN ONION - peel it off layer by layer PROGRESSIVELY. Hence, it appears to be even more cost effective than the normal cheap block cave. In my opinion, I am pleased that the ore body is lying on its side - it makes it eaiser to hit rather than a pencil for obvious reasons.

NEXT 60 DAYS & 60 NIGHTS
Phase 1 & 2. Phase 1 drilling - 3 holes. THE 1ST HOLE appears to be the DEFINING hole to start with as it has now BROKEN NEW GROUND [ Racecourse was never drilled beyond 350m per the last owner*s ANN/RNS which I posted]. Therefore, it goes from technically o/p to BLOCK CAVE and therefore the potential FOR A BIGGER PROSPECT akin to BODA [Boda ref is from Mr Bird in the last 2 interviews].

I wont edit as rushing off for breakfast.

Colin Bird has taken pics of the cores - wonderful like Alpala etc which shows that we are going by convention for such prospects

Part 2:

Mr Colin Bird also mentioned in his interview today about FOOTROT - Bushranger licence.

Interesting that Alkane hit at BODA 2, a NEW WHOLE ANOMALY - Mr Bird is now moving from Racecourse where the drill is to mention FOOTROT.

As I posted from TDR.ASX RNS/ANN of 2007, IP etc identified RACECOURSE, FOOTROT AND WHITE SPRINGS. From the map, Footrot consists of 2 lungs which appears quite big [English understatement].

News, Tues, 12 Jan 2020
DYOR.
Looking forward to Wk and Mon per Mr Bird*s mention of Racecourse drilling hitting target or more?