Thanks for the great posting. With ~ $10 mill own cash to spend...

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JandJ

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10/04/24

10:38

Post #: 73272219
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Originally posted by salpetie: ↑

DD23-13 is certainly a high grade hole. One of two DD holes (13 & 24) drilled as a follow up to an earlier good RC hole (45)

Some location and other stuff for those who don't have access to details.

NE of 'known' main mineralised area.

Blue line a simplistic boundary on higher grades which will change as more holes are drilled. Of interest to ENR are the possible extensions to the NW (hole 52) and a weak trend to the NE which might be carbonatite related but with low grades so far. Also a possible weakish NW zone defined by 67,8 74 20 etc.

Detail view of DDs 13 24 and RC 45 which are on the same section line with holes all drilled grid south at -60 collar dip.

There are some sudden changes in depth of mineralisation in different parts of Luni. 45/DD24 to DD13 is one of these.

Purely schematically:

45 is twinned by DD-24 with good correlation.
The high grade in DD 13 is offset to depth.
[Why? Faulting; lithology changes, paleo-topography; weathering changes, other..]

At a first pass there is 200m of NS high grade zone on this section with holes 44 and 161 closing off the zone.

Another observation is, as a general rule of thumb, the bulk grade zones are mostly carried by the high grade with the residuals commonly less than 0.5% Nb2O5 and more often 0.2-3%. Pretty standard industry practice to report grades this way and may ultimately be bulk mined at the average.

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Thanks for the great posting.
With ~ $10 mill own cash to spend mainly on Aileron and S22 another $10 mil earn in on an IOCG at Jessica.(ENR free carried to SS with 25%) - Looks like time to top up -

ENR Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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