Member Info for theiceberg

Steve we havent, but if they stopped say saturday, I would Colin would have got round to an the update by this morning.

Saying that I would be flabbergasted, if we don't get an end today. If not then a complete geological rethink will be needed 're the size of it, or them....

No chance of that, they simply stop drilling if they don't have mineralisation. :)

I've not posted much, as tbh there isn't much to say until we get hole 3 position ,length, mineralization etc. Or we get hole 1 assays but imo thAt won't be until the end of the week, to maybe the 8th or March.
However 7am tomorrow should be quite important.
If they finished drilling on Sat or Sun Aussie time then I would hope to hear about it at 7am. Still a very very nice length. However if no rns, then it's safe to assume that drilling has continued into Monday Aussie time, so must be at 800m+.
Either way 7am will be interesting and hopefully good!

It's worth remembering that this is testing the 3rd dimension at quite a shallow depth. It but mineralization at a depth of 200m or so . It will likely enter the core intrusion zone at 300m depth and leave at 400m depth. Then go on to test the outer alteration at a depth of 400m onwards.

This is in sharp contrast to the total depth of 800m. We we expect the porphyry to widen near the bottom - a commonly held reasonable assumption - then this won't be testing the wider part.
Given that news today of a 300-350m mineralization zone is very good,
Deeper at say 600-700mm depth from the core, it might well be 50% wider. XRF from drill 1 showed a nice high copper section from 600-750m.
It would be costly to try and get a width measurement though at this depth, as the 60 dip would mean it needing to be half a km from the intrusion.

He seems to be following xtract very closely. :)

Totally agree steve, investors get told time and time again.
Do research. Lots of research.
Don't believe bias news, or take what the company says as gospel.
Don't get emotional about an investment.
Buy when it's quiet.
Don't buy on a spike
Don't go all in!
Have a strategy.

Then they ignore it all and put everything into a share because some bloke called bestaimtips has put a rumour on twitter.

Such is human behaviour.

So the market makers have taken a 1.5m sell this afternoon, with no movement in the book at all, no drop of the bid....
They haven't even hidden it.
big buy coming up maybe?

Zero disrepect to you CE, but you obviously don't know our nomad. They one of the most lazy, borderline corrupt POS nomads on AIM. They were severely reprimanded over the NEW affair.
Thankfully in real life, they have next to no involvement with XTR.

The thing is, hole 2 would hopefully have 100-150m at .4 maybe even .5, then maybe another 100m at .3, the rest will be between .15 and .25 IMO. Nobody expects it to be 800m with the same mineralisation as hole 1, (well maybe Mr Bird).
The point is that an open pit - which this surely will be to a depth of 400m or so - requires a certain about of dip to the pit slopes for H@S reasons.
So they need to extract to this point anyway. Its better to have .15 copper and maybe .1 gold to feed though machines providing some profit than nothing at all. We know from Northparkes, Boda etc the higher grades are confined to 50-150m from the intrusion core. It still makes them deposits worth hundreds of millions. IMO our larger, bigger, copper and alterations zones are a massive plus.
I think personally he needs to educate the market as to grades at distance, at boda, northparkes etc and how we compare. That will get the market well and truely excited.

Rio have just release today 're copper estimates, a timely reminder of commercial grades.
"The Mineral Resource additions at the Kennecott Copper operation for 2020 are constrained within OoM open pit expansion phase designs and have been tabulated based on production schedules using optimised varying economic margin cut-off grades which averaged approximately equal to a 0.25 CuEq%. "
Obviously we want better but this is the minimum bar.

I think he's misunderstands the market tbh, he waited until after hours to release the drill 1 xrf results because he though the market might react negatively. He's more use to announcing the African grades, which you wouldn't ever get in a porphyry of this type.
I've said it a few times but we would be overjoyed with .2-.3 copper and .15-.25 gold! I would intersect us to be getting that much copper at the outer edges.

Still it looks like a guaranteed 250-300m of mineralisation...so first target reached for me...everything from here is a bonus.

The, shall we say short tern, uber positive, post lots then disappear posters, look to have gone away again. But this time without much effect on the share price..
We 're seeing some larger investors buying up the shares, we are seeing liquidity failing - lowest 5'day volume Since the sub 2p days..
Imo , there have been a few private investors with maybe 1m or so shares from the 1p days, that are choosing to slice some - well done. It's a good time to do it as the market looks happy to soak up 200k-1m sells, with equal buys.
A rise to 7-9p looks unlikely to be met with too much selling now.
All to the good.

're drill, I really would be content with news that they have reached the end of mineralization today, it would still be a massive find. I would be over joyed if they continue it. But ....

Without incorrect autocorrect changes.
A kick a s s UT for just under a million.
Before anyone asks it was a UT, so a buy and a sell.
Somebody put this on the ask and somebody else gobbled it up.!!!

A kick a s s IT for just under a million.
Before anyone asks it was a UT, so a guy and sell.
Somebody put this on the ask and somebody else gobbled it up.!!!

A minimum of 250-300m would be good.300-400m very good and 400m plus, fantastic.

Of course grade is more important, but as a first indication, just imo.
They could release today at 2pm and have hit 200-250m..

ivans knows full well, when we drifted back to 4.8 he posted "these cheap warants are killing momentum here"
Just before it then rose 20%.
I think it's a joke account from a teenager with too much time on their hands.

I couldnt find any recent imaging either..The field and woods can be found, but it's not current..you can get images but they are not of low enough res..equAlly you can pay but I am not fussed enough to pay. :)
Drill 2 was to the west of the body, so my guess, and it's just a guess, is that the early mineralization surprised them, suggesting the alteration on that side of the intrusion was more extensive. By switching to the East side, it allows them to test it at depth, probably a depth of 500-700m, possibly increasing this dimension of the jorc into the .3 cu eq areas. Again my hope is that it extends it by another 200m. :)

Taken from yesterday's rns, The hole is being drilled at -60 degrees towards the north-northwest and is currently at a depth of 310m
If you look at http://www.rns-pdf.londonstockexchange.com/rns/8229M_2-2021-1-25.pdf which is the latest we have..The drill position for drill 3 is just to the west, of the main body.

If we drill nnw from this position we are drilling directly away from the ore body...literally the opposite direction. So either the RNS is wrong or the drill location of 3 has changed...
My bet is the drill location has changed.

If you look at the 2d picture we have of the old drills, the ore body and the first 3 drills. Everybody probably has it, it's from a presentation last year, on twitter, on my blog etc. Take a protractor and look at the angles...-90 is straight down. The angle of both drill 2 and 3 is the same, and about -70-75 degrees. But in reality drill 2 was -80, but drill 3 is -60, according to the RNS, so a much shallower depth.

The complaint isn't with the geology or the results, but I do wish that XTR could tell us when things change.

The change is a positive imo. They probably wanted to switch hole 3 to the East side(which must be the case if its drilling nnw), as they think the west side has better deeper mineralization than planned, probably from drill 2 results...The shallow nature should test the 3rd dimension nicely with that dip at a good depth.

They haven't been clear on drill 3 and whether it's changed from its initial position..
tbh i am not sure of the purpose of the RNS or the interview...neither really told us anything new or important. It's nice that we know it's going well, but.that's about it..

i was hoping the pump crew would hold off a bit longer....nevermind.