Upgrading the Resource - HUGE Potential25 Aug 2021 15:59
A recent tweet reminded me of the indication CMET made in the April RNS as the possible future expansion of the resource, tying in very nicely to the Technical Managers recent appointment. It's worth restating that :
Highlights
- The current Resource estimate is based on auger drilling that has not penetrated more than three metres deep. Limited sonic drilling so far undertaken offers compelling indication of deeper mineralisation, including showings of 26.3% and 26.6% THM at respective depths of 14 and 8 metres.
- Further potential exists beyond the narrow coastal strip - accounting for only 6% of the total Project area - that has been the primary focus of drilling to date. Initial exploration suggests potential for significant mineralisation further inland.
- The Resource's expected high grade will reduce capital expenditure - less material needs to be mined and processed to access commercial minerals.
Opportunities to Upgrade the Resource
Although the current estimate - based on 1,643 shallow auger drill holes totalling 2,621 metres of drilling - is sufficient for a mine, CMET believes compelling opportunities exist to significantly upgrade the Resource.
The inherent physical limitations of auger drilling mean the Project area has so far only been drilled to an average depth of three metres. Exploratory sonic drilling undertaken by the Company in 2018 indicated that mineralisation continues at deeper levels across much of the Resource, results including holes recording 26.3% THM at a depth of 14 metres and 26.6% at eight metres. The consistently high grades so far recorded suggest the Resource may be free of the coatings on sand grains that make it harder for standard equipment to efficiently recover valuable minerals, and to rehabilitate the land after mining.
Further potential exists beyond the narrow coastal strip that has been the primary focus of drilling to date, a 100 to 300 metre wide north-south corridor running alongside the sea that accounts for only 6% of the total Project area. The Project's bounds extend up to two to three kilometres inland, covering terrain that may encompass marine sediments.
The limited drilling as yet undertaken further inland suggests significant mineralisation. This territory, a series of shallow lagoons and estuarine habitats, is readily accessible to environmentally sensitive drilling, with minimal need to disturb vegetation prior to mining.
https://capitalmetals.com/resource-potential-and-infrastructure/
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