I would have said it was a solid hit but they need to do plenty of work to define a JORC 2012 compliant resource by December 2025.
The outcrop samples of supergene manganese were assayed at a max of 58.5% Mn (XPRF said 63.4% ann dated 18/11/2024), so it makes engineering sense to drill near that outcrop and straight down to test the extension of the supergene (meaning shallow) that hasn't been exposed by weathering. They are targeting DSO of bulk material, so straight down / grid like pattern - same as in iron ore.
Back to the XPRF samples, it seems to overestimate by 5% compared to the assays, there is only about 2m (4.1 - 6.1m), when averaged and taking into the account the XPRF overestimation, that would make the DSO grade specified by the Indo smelters (CD said 37.5% somewhere). Think I worked out that (2m) it averaged 50.4% less 5% = 45.4% - don't want to be $$$ penalised for sending ore that doesn't make the grade.
Someone posted a graphic of CD writing that a "great start would be +3m at +45%" - so grade yes, short on the thickness / depth ..........
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Price($) | Vol. | No. |
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