magnetite significance

After my initial purchase I read through every price sensitive announcement put out by KDR. No doubt they have a good deposit ... but how good?

OK, so they have a 12 km corridor of possible mineralization ... yes, but can they find it? The announcement back in Sept 7 caught my attention:
"Significantly, magnetite has been identified in the ore zone and as a result this detailed aeromagnetic survey is being flown on 50 meter spacing’s to test for extensions of mineralisation along strike."

So magnetite is co-xistant with the ore!! Simple .. follow the easy to find magnetite, and you will find the ore!! After reading this, I doubled my position in KDR.

Then the Sept 27 announcement confirmed this:
"Kidman Resources Limited is pleased to advise it has received results from its recently completed detailed airborne magnetic survey flown over the companies Home of
Bullion (HOB) prospect.
HIGHLIGHTS
* Coincident magnetic anomaly extends 3.6kms along strike at HOB
* Strongly magnetic NW-SE trending corridor identified (HOB corridor) extending for 12kms along strike and 2km wide
* New magnetic targets identified along under-explored HOB corridor"

Then I read another announcement:
As a follow up to the airborne magnetic survey and the diamond drilling the company is currently running PVC casing down selected drill holes at the Main Lode to conduct DHEM surveys with a view to identifying further drill targets down plunge and along strike. (The DH stands for Down Hole EM)

And another ...
"Since identifying a coincident 3.6km HOB magnetic trend, upcoming geophysical FLEM survey will be utilized to unlock HOB’s potential along strike and downdip. We look forward to these results to provide the next round of drill targets." (FL stands for Fixed Loop Em)

Then low & behold:
"We are very pleased with the DHEM survey results as they confirm better zones downplunge and provide us with vectors towards future drilling targets on both the Main Lode and Southern Lens. Further to that, we expect the FLEM survey covering the 3.6km magnetic trend to provide even more targets along strike and under cover."
And:
"We are very excited with the recent FLEM survey results as they confirm strong conductors beneath shallow cover that remain untested and could add significant tonnage to the HOB project. The strongest conductor coincides well with the magnetics anomaly suggesting a magnetite-sulphide association as observed in drillcore on the Main Lode. All
targets generated from the DHEM and FLEM surveys will now be ranked and prioritized for a comprehensive drill program early next year"

So since then we have had announced:
Feb 28:
"New Massive Sulphide Zone at Home of Bullion
Conductor 1 was identified as a priority drill target due to the strong coincident magnetic and FLEM responses .... Conductor 1 is overlain by shallow alluvial cover hindering past explorers but the intersection of the first drillhole, containing massive sulphides confirms our geophysical
model."

And today's:
"Best Ever Intersection at Home of Bullion from “New” Massive Sulphide Zone
This high grade copper intersection at Conductor 1 also confirms the geophysical model of drilling coincident magnetic highs and conductors to identify new zones of copper mineralisation. Further FLEM is planned for strong magnetic targets identified along the HOB corridor.

I have to say that as soon as I read the announcements back in Sept 7 about the initial finding of magnetite, I doubled, then trebled my position! each subsequent announcement confirmed that they have a ready-made geophysical "GPS" to lead them to the mineralization! And, BANG, BANG, both of the first holes hitting bonanza grades ... Amazing!! And 35 holes to go!!!

Now if we bear in mind what has already been pointed out that this amzing situation exists over 12klms of confirmed airborne EM surveys ... The mind boggles.

Another factor that is messing with my mind is something that they slipped in to today's announcement:
Recently completed petrographical studies on sulphides from the Main Lode and the absence of volcanic host rocks in the HOB region suggest a SEDEX style deposit with similar base metal sulphides to the Mt Isa deposit. More research is required.

SEDEX deposits are generally considered lead-zinc deposits, but HOB is very high in copper, as well as the other base metals & gold ... they are comparing it to The Mt the Isa Inlier style of SEDEX mineralization - So, no longer an intrusive or metamorphic VMS deposit ... I am very interested to see where this leads!!