Ann: Key Director and Management Appointments, page-37

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mickkeat

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06/03/17

17:01

Post #: 23133203
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Originally posted by Dazedandconfused ↑

Hi forrestfield

Definitely the Halls Peak prospect is an outstanding target .... but I hold that opinion for completely different reasons.

I like it because of the unexplored conductor below. If that is mineralised then Halls Peak could be something very special. It has never been drill tested and so it's pure speculation at the moment.

Although the grades at surface are excellent my research turned up a problem. The area was commercially mined by some majors in the '70s and they were very sloppy about it. There is significant lead contamination in the area and back when Halls Peak was held by PMR some locals formed an action group when they discovered PMR might be wanting to disturb it with possible drilling. Although the grades are DSO, getting mining approval will likely include the cost of remediation work. Also, the historical mine sites are rather scattered about.... the indication is the mineralisation is correlated to the faulting so the resource in each location is probably constrained.

However, the fact that high grade mineralisation has come to the surface following the fault lines, over such a wide area, makes me hopeful the underground conductor is also well mineralised. If so, then being around 500m's below surface it is ideal for an underground operation and all of the problems of the surface contamination disappear.... it could be mined and not a blade of grass would be disturbed. It is the size of the conductor which puts Halls Peak in the Mt Isa category ... if, if, if it is sufficiently mineralised.

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Totally agree, it just needs a drill plan with some cojones willing to take the risk that it is not mineralised. Feels like right now the mere possibility that it is mineralised is worth more to (current and past) mgmt than the potential binary outcome of sinking a deep hole.

4CE Price at posting: 3.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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