SPRC007 was definitely the game changer. I keep going back to Dr Alan Wilson's model of alkalic porphyries in the Lachlan Fold Belt (LFB), if his work is correct then the Potassic core at Spur is close, likely no more than 200m. It could even start to appear in the next hole 20m away if we start to see chalcopyrite (cp) increase and pyrite (py) drop out of the system, any small inclusion of bn (bornite) would be another indicator.
Spur is not unknown, it's been drilled before many times over the years so why is WTM any different and aren't they just drilling known mineralisation? It's only 10kms from Cadia and in the same rocks so why didn't other explorers find a porphyry deposit there?
My thoughts are that Spur was always thought as epithermal gold which would lead most to believe that any porphyry source could be kms away and buried deep, chances of finding it or it being economic were slim. All prior drilling was shallow <150m with the exception of a few blind diamond holes that clearly missed any substantial mineralisation. WTM have got lucky here, if the science and geology are correct, and now with extra money in the bank they can really go after it, who knows, they could be one hole away from the discovery or it could take a dozen but there's overwhelming evidence that they are very close.
Clearly, I'm trying to contain my excitement and present a more researched case because I've been let down too many times searching for the 'big one' in the LFB.
(20min delay)