If the project is successful then surely that second placing will go down as a master stroke? how he managed to get anyone to fund 5 mil on the strength of one hole assays is beyond me. After holes 2 and 3 results the momentum and share price tanked so we could have all been looking at much bigger dilution.
Well they assay'd the full length in the first phase holes, we are talking points of a percent above / below the cutoff can have huge impact on the economics of the project, not to mention there is potentially invisible gold coupled with the sunk cost of drilling the hole.
Also they went deeper and below the visually strong sections, so surely gotta assay anything showing mineralisation ?
Some short hand notes from the Zak Mir interview today,
very much sort of progress we wanted to make
what did we achieve - both east and west, both ends of open pit, intersections - thick ones at that, isnt it interesting that these holes keep going - stop still in mineralisation at bottom of conceptual pit - very encouraging, 2 zones being thick.
these holes are saying yes concept is valid, both sides of conceptual pit is likely to get bigger. Very 'appy and we have all these very very impressive geophysical anomalies to test which again will be pit extensions.
re the licence, granted extension June 2024, or course can be extended again, often ask for ground reduction, but by 2024 wont know exactly where we are as myriad of porphyries and potential porphyries, will have a base resource where we know where we are - who knows if we will still be the owners in 2024 ??
re the pit modeller - looks like original prognosis still stands
Africa
Not getting left out, business as usual.
small project and cleaned that up (zambia) delivering to local processor Zambia not far away, eureka good for 500 - 700k tons of copper, little scare, really cooked ? acid solubility was low but on other material it was at 90% acid solubility. Adison modelling, assay results will be added to the model.
Kaleingwa - spirals and tables small mill - on target.
Mozambique - Chinese company at Guy Fawkes, decided to go deeper, under ore body, mining on reef is very low production, want to be able to stope, decent chunk - undercut and drop - been through some very high grade zones, not drilled not known, very thin 0.5 0.25m thick.
Big one - Fairbride - got moving quite nice, all civils and earthworks about complete, some of the stuffs coming up from SA, afraid we are talking 4 to ??? (DEFINATLEY CUT OUT)
CONTINUES none the less Zack the production potential is great. Promises more pictures on the website, terrific earner well.... meaningful income.
Colin Couldnt be 'appier with Xtract, Zak hopes he sails on in a decent fashion and good night.
Sounds like plenty going on in Africa which he said was all on target, obviously internal targets as I don't think any have been shared externally, would be nice to structure that around the next operational update. I find it easier to digest the African assets in written form !
Dogefather, it's a natural response, the market know from phase 1 that there are allot of metres out there of visible mineralisation that are below cutoff. Without more detail from diagrams I think they will treat everything as 'meh' until assays.
Roll on next holes....
"The intercepts cover both sides of the conceptual open pit and, as such, the new results are potentially very exciting. The next two holes are already well in progress."
If we get an interview it would be good if Colin could explain the potential excitement ? I assume it's the east flank that's exciting and potentially because we need the grades?
I am reserving judgement till the assays are out (like the market apparently!)
What I didn't like was no description of strength of mineralisation at all for hole 9, in the phase 1 holes, only the sections described as strong or the core correlated to assay result above cutoff i.e hole 3
Hole 10 did describe a section of stronger mineralisation but it was only 18 metres.
Will be waiting for assays with bated breath!
Re hole three I noticed an exact correlation between the visually stated depth RNS of the core (598m from memory ?) And this was the exact depth that was above cutoff and reported in the assays RNS, someone's got a good eye !
Here's hoping that if they go deeper it's for good cause and above the cutoff. I looked back at hole 3 visual RNS Vs assays and despite the visual comments on mineralisation starting shallow and through most of the 950m hole, only the 200m or so described visually as the core was above cutoff. I am anticipating the same now (to avoid get carried away!)
Let's hope so Ella, surely one of the purposes of giving each hole a unique reference is for diagrammatic call out ?!
I checked out a caravel minerals RNS from their recent drilling results, packed to the brim with diagrams, leaving the reader in no doubt as to where the holes were located.
Steve, thinking about your post from yesterday.
I have been looking at some of the other AUS co's as they have come up in conversation from other posters (HAV for example).
I notice that ASX listed co's bend over backwards to provide much more detail in their RNS (and some LSE co's as well) i.e 3d drill plans expressing exactly where the reported hole and it's context.
For not much extra effort the RNS could do that.
So why not ? Why add so much more into the interviews which very few PIs and others will see?
It feels like there is an effort to keep bushranger low key right now, perhaps part of the strategy leading to decision to mine and take AA out of the picture ? Maybe it's just how small co's approach things and nothing more ? Food for thought....