Member Info for theiceberg

Boda- “modelling of the drilling indicates a +0.2g/t aueq approx 500m north south,400m wide ad 1100m vertical
Within this +3G/t aueq 150m long, 100m width and 500m vertical

In other words pretty similar to racecourse and why the other alteration zone doesn’t need to be fantastic.

Is 400-500m,I've got a very nice 3d picture on my laptop.

It's funny. A lesson in life, everybody has an opinion, but not all opinions are necessary.
That's why we have so many idiots, questioning scientific experts, because they know better, what's worse is that they don't put the effort into researching things for themselves.
It happens everywhere, recently in the "silver squeeze" where a bunch of arm chair experts, without knowledge of the metals market, claimed everybody could beat the squeeze, like they managed to on a liquid stock.

The poster below couldn't be more wrong...
On aim it's the early bird on these stocks that never losses money and if you don't lose money on aim you've won 80% of the game...The other 20% is waiting for the value to be realised and the drill to add more and more value.

For the avoidance of doubt xrf. Is not A toy, but a very valuable tool used to determine and understand porphyry exploration drilling.
A Comparative Study of Porphyry-Type Copper Deposit Mineralogies by Portable X-ray Fluorescence and Optical Petrography
https://www.mdpi.com/2075-163X/10/5/431/htm

I am not sure there are many CB worshippers. I said this morning that are needs a country manager for aussieland.
But, what matters are the drill results...

Dibs I agree, one hole of length and one of angled width gives you enough to make a basic judgement. Particularly with the JORC which lies hundreds of metres away.

Funnily enough I am not invested for the writing style of the RNS, Mr Bird, or anything else that I would consider faff.
This is about the drilling, the mineralization, the prospect and the actually jorc..
With a couple of good geologists and a drilling team even a 5 year old would struggle to make a mess of this now.
I do wish folks would spend more time reAding about similar prospects, even other PCGD such as winu in australia.

So as expected we now have 350m of alteration and intrusion. That's the first tick for me. 350 was my expected good minimum to eventually reach a 400mt or so jorc..
450m is amazing, anything beyond 450m, truly, might be something extra ordinary.
Remember this only need be .15 and above in copper.
Hopefully they are just hitting the outer alteration zone...what out for the random high gold values..
http://icebergshares.blogspot.com/2021/01/xtract-racecourse-becoming-little.html?m=1

H-hi.
Even solg a 500m+ mcap company issued sometimes 2 updates a week on their new discovery in the autumn of 2020...I think it's fair for. 20m mcap company to want to shout about their find. (Not that the two are comparable, just that all companies like to be vocal with a discovery that they think will be big.)

I am sure you would love him to issue shares....
Personally I love a tight budget.if a few short term traders are too stupid to understand the RNS , then :)

As for shAres being suspended, sorry but your showing your unintelligent trolling abilities there.

Demark and hi,
You do realise we only get real numbers when the assay results come in.....
Your opinion that nobody should buy until then and no other information is important might make for a difficult market. We could just suspend the share until you get your real numbers.....but that would be against the rules...
Sarcasm intended...:)

H,
're professionalism of the RNS, you have to remember that unlike some bigger explorers, xtr does not employ a team of data modellers, they just don't have somebody to draw pretty pictures and put lots of effort into RNSs. If they did ,the mcap would be 70-90m and we wouldn't have so much upside.
That's not to say they couldn't inc a few more pictures of the stockwork, make better use of the Twitter account etc. But they are a very small team, that have operated on the smallest budget possihle, but now have a very big explorAtion find.
Personally I would like the ex BHP guy to be put in as a country manager and he can assemble a small team to move it forward. An outsourced geo modelling etc.

I've been trying to plan a conservative footprint going from the geology and what We know so far.
It's just a plan for my own views, hence the 5 year old nature. But it helps me to visualise the comparative size.
http://icebergshares.blogspot.com/2021/01/xtract-racecourse-becoming-little.html?m=1

Just a bit feeling, but I am not sure the market will fully pick up on it next week either...although I do think it will rise.
We will get an xrf analyst maybe end of the week and it will show 150m at .4 or something, maybe a zone of .3 and then rest of a 400m column at .2 and folks will say the grades arnt good enough etc..
They will totally miss that this is what the drill has been hoping to achieve, that the company are seeking to widen the mineralization using the seocndary, lesser alteration zone. They won't get the gold in the XRF, which will hopefully be strong in many areas, strong enough to bump it towards the .3-.4 cu eq.
They won't do the research to understand that this is how Aussie mining gets the bulk .
Just an opinion.

It's part of the joy of investing in porphyries, the market never has a clue how to price them, traders always sell out cheap and miss the quick climbs, which always occur at strange times. Often when bigger players wants a chunk.
If you try to judge a porphyry using the market on news, you will fail 70-80% of the time.

I can't see how it's possible to misunderstand the RNS tbh.
They think the zone of alteration\ mineralization is much bigger than JORCed so far.
They have hit mineralisation, prior to where it should be...it's continued to the intrusion where it should be ..
They are continuing to drill (only an idiot would stop).
They have identified the gold indicator.
The drill can't tell us anymore.
It's really simple and the drill could not be more successful atm.

The market can do what it pleases but the drill and geology are all perfect atm

Bang on target. This is what i said on the last RNS.
This is 200m away from any other drills, so outside the grid that could be used for the JORC.
still the best to come Imo, on the downside of the intrusion core.
"So key things....main body is at 450-500m, we ve hit mineralization at 340- that puts 110m to 160m of moderate copprr , maybe gold prior the main body, the main body then has 150-200m at that location...giving us 260m - 360m of moderate to strong mineralisation, then my expectation is a further expectation is 100-150m below, in what I believe to be a higher gold zone. Giving a range of 360m- 510m of mineralisation....this is beyond expectations....I am not sure the market is realising this.
Add in the higher width lower down (remember this isn't in the newly discovered deeper mineralisation)....
We will know over the weekend...but it looks bloody good."

Sorry maybe not very clear, the .4 is a hope from the current drill . Not an expectation but something I would be happy to see.

The post was really musings coming from me trying to think about the position of a primary gold rich intrusion and placing the copper post intrusion over the top.

Obviously a pass drill, but I am finding it a bit of an enigma.
The first 300m ended in 159m @.4 copper and .21 gold, in can understand them drilling a bit after that point maybe 100-200m without mineralization. However they drilled for a further half a km, supposedly recording nothing....
Now if the were concerned with a .3 cut off, and they were finding say .2%..then they might continue in case it increased...but it didnt..
Now we would be overjoyed if even half of that distance had .2%
We know from the long section that underneath the intrusion body, the alteration does seem to have some depth to it, hence the sporadic patches.
Below the drop that this second drill is intersecting, the gold grades should be higher, possibly due to early intrusion activity.
I am speculating but Mr Bird seemed to be pretty positive about this drill earlier and I have a feeling that the early mineralization has reinforced an internal model which greatly expands the alteration zone, above and so below....
for the avoidance of doubt if this finds 400 at .25 and .1 gold and with that a zone of say 150@.4 and .2gold, I would be very happy indeed as the affect on the jorc would be massive.