The ASX are not geologists...these are JORC issues.
Extraploation is fine...just need to apply the right level to the relevant category.
Inferred is the lowest JORC category, below which we get target resources, as such 50m "extrapolation" from drill holes, given accommodative geological modesl, is more then acceptable for an inferred resource of this kind.
I believe they are using some 500m "extrapolations" with some of the current iron ore inferred resources...and porphyry's can comfortably used 200-300m in some circumstances...and Coal may stretch out to 1km of "extrapolation".
It all comes down to the type of resource.
The point of my post was that 6000m of drilling can easily account for the nominated resource at CDB.
Was that not the nature of your doubt at my original post?
You need to understand the reason CVI cannot report CDB resource is that is was not collated according to JORC, that is, drilling practices, quality control, assay techniques, etc, were not to the Joint Ore Reserves Commitee (JORC) stated guidelines.
It does not mean the resource is not there...it just means they cannot report it until the holes are twinned and previous results confirmed under the new regime.
Many many resources have been discovered, delineated...and indeed developed without the slightest reference to JORC.
It may sound ludicrous, but we could well have drill core here left over from the previous campaign, with solid copper running through it, yet it would not be allowed to be reported for the simple fact it was not prepared or obtained via JORC standards.
If one knows the core came from say hole CDB21 (from say 60m downhole), only a fool would discount the fact there is likely to be significant copper in any twin hole at the same depth, at the same location.
Even if JORC prevents you from nominating such. JORC does not make a resource disappear, although it can make it disappear from a fully informed market.
Nothing wrong with JORC by the way...until you get to the lower level categories, where a fair bit of interpretation is required of what is known...and what is not. Here I believe JORC fails miserably. You can have a situation were a junior geo, or even a non-geo from the ASX can disallow the release of the expert opinion of another geo with say 30 years experience.
With inferred resources...and especially with target resources...the nature of teh interpretation can make or break a resource.
In CDB;s case however, 6000m of drilling goes a long way to support all claims to date, as I have clearly indicated in the above assumed drilling regime, where extrapolations were all well within existing JORC classification.
Cheers!
CVI Price at posting:
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