MAG 3.51% 5.9¢ magmatic resources limited

Ann: Drilling commences at Lady Ilse gold copper porphyry target, page-222

  1. 37 Posts.
    lightbulb Created with Sketch. 2
    Diamond drilling hole times can vary depending on 1. ground hardness (mpa)density. 2. The type and size of the machine contracted to do the job. i worked at a mine where the company spent 10mil on 2x rigs that were not fit for purpose . We had a diamond rig turn up to do 4x 70m holes and due to the density being over 500mpa The rig was unable to achieve a single hole. The drilling company subsequently floated the rig offsite for a bigger and better one. 3. Drillers are human and they like to party. working away from home. We self medicate at the bar most nights. No wives or girlfriends to tell us to call it a night. Hungover at work the next day can result in getting bogged down hole. This can take several hours or even days to get out. sometimes. The hole has to be abandoned and the rod string can get all or partially lost down said hole. Then you are back at square one! 4. The rig itself has many moving parts. they often run day and nightshift. Yes they break down. sometimes they get electrical faults due to the constant vibrations and the salty ground water. Tracing the electrical fault can take days depending on how good your fitters are. 5. Common sense would suggest the drill keeps drilling until the sample changes. From my knowledge geology would be making regular visits to the rig inspecting the samples. While ever there is the desired mineral present in the sample. The drill keeps going . Patience is the key.
 
watchlist Created with Sketch. Add MAG (ASX) to my watchlist
(20min delay)
Last
5.9¢
Change
0.002(3.51%)
Mkt cap ! $24.60M
Open High Low Value Volume
5.9¢ 5.9¢ 5.9¢ $6.251K 105.9K

Buyers (Bids)

No. Vol. Price($)
1 72135 5.9¢
 

Sellers (Offers)

Price($) Vol. No.
6.6¢ 15152 1
View Market Depth
Last trade - 10.19am 28/06/2024 (20 minute delay) ?
MAG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.