CCZ (ASX) Capital Raising at $0.050 Imminent

Originally posted by seals: ↑

Ok, I'm with you @ozbucheron. I understood your post as making the calcs, not critiquing them. I thought you were describing the historic mined out width so, practically speaking, even though I misunderstood you, it makes no difference to my previous reaction that you're making rational arguments as to likely limitations to the historic mine.

Grade at depth (and 0RL is not all that deep here I would have thought?). I simply wouldn't expect high grade (ie like CCM was) at all. You'd be looking for primary ore at economic volume. I do have a practical working understanding of the essential mechanics of deposition, including the limitations of supergene deposits. You seem to think I'm arguing for something that I'm not. I didn't buy into CCZ for Cangai, Mt Oxide actually, but I do view Cangai as being of insurance value on the downside if Mt Oxide (and Zambia) turned out to be busts.

Btw I did a bit of reading on Cangai late this afternoon. Came across this independant article on the history of Cangai Copper Mine, quite a good read actually - apparently the copper mine was born out of the gold rush. Anyway, on p110 it references the explorers you mentioned, assuming the author has all the details, they didn't do much drilling and basically bailed after early failure. Do you know of more? CCZ has already done more and found more than the 3 of them put together based on this article and it kind of undermines your argument that they provide authority against what CCZ thinks they can achieve:

Union - "2 diamond drill holes under the mine in 1972".
Western Mining Corporation - 1982-1984, "detailed geochemical and geophysical surveys leading to testing by two diamond drill holes targeted on geophysical anomalies"
CRA Exploration - "a more extensive, five-hole drilling programme in 1991"

https://www.researchgate.net/publication/336714654_Cangai_copper_History_of_'a_good_little_earner'

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hey @ozbucheron

I went digging a bit further for some answers for myself re that historic drilling. I hadn't read this announcement from 2017, anyway I used it to dig into the JoRC statement at the time. A few snips below but it looks like:
CCZ knew of 10 diamond drill holes from those 3 explorers, 8 of which core was stored at the NSW Geological Survey repository
only 2 holes were over 400 m (by CRA), we know they hit little. I'd assume they are the ones that got to 0RL based on the levels in the picture you posted. Lots more room beneath to explore imo
In 1991, when CRA did those holes, they had doubts as to "whether the historic drilling was well suited to test for copper ore extensions" - my guess is that comment is prior to their own drilling
at this pre JoRC stage CCZ expectations were relatively low - "No JORC Resources have been outlined to date at Cangai, but there is potential for further economic mineralisation of (probably) moderate size" - certainly lower than what they ended up delivering in their JoRC
separate from the drilling question, there's an interesting comment on previous explorers who were pondering the things I was re possible feeder systems. If they are one day proven correct (totally hypothetical) then I'm looking in the wrong direction - they were speculating eastward. I have no idea if those theories have been tested by anyone ever, they interest me because I'm speculating what might but I could see them not being tested in any near time horizon.

Back to my earlier questions. Comparing the sum of CCZ exploration with the results from the 10 diamond drill holes (was there RC as well??), it is probably fair to say that CCZ has found more than the previous 3 combined. I'd say it's worth while testing it out further some day - maybe if they have cash flowing out of Mt Oxide?

Diamond drill hole details, with depths and year.

Cores at the Survey repository

CRA comments re past drilling and Cangai spec re potential:

Comment re possible feeder systems