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Ann: Shallow High-Grade Zinc-Lead-Silver at Mallee Bull, page-25

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kikass

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05/06/15

09:18

Post #: 15417570
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Originally posted by Copper bull ↑

I think the market has missed the significance of the recent discovery of shallow high grade lead/zinc/silver mineralisation at Malley Bull. Consider this:

1) A NSW Department of Primary Industry (DPI) report in 2007 stated that the Cobar Field (from Endeavour in the north to Mount Hope in the south) had produced 5.3 million tonnes of base metals as well as 5,000 tonnes of Silver and 90 tonnes of gold. The 5.3 million tonnes is comprised of 1.1 million tonnes of copper, 1.6 million tonnes of lead and 2.6 million tonnes of zinc. Even though copper prices have historically been three times lead zinc prices, the fact is that revenues from lead/zinc in the Cobar field have exceeded those from copper because almost four times the metal has been produced.
2) The typical lead/zinc grades mined are substantially higher than copper grades. At Elura the historical production is circa 12% combined lead/zinc. At Hera the reserve grade is 6% lead/zinc (and 3.6 g/t Au).
The historical copper grade mined at CSA is circa 3 percent.
3) According to the PEX announcement the lead zinc mineralization (from the RC holes we are currently awaiting results from) was intersected within 60 metres of the surface and is open in multiple directions.
4) Also according to the announcement "zinc-lead rich mineralization seen elsewhere at Mallee Bull is yet
to be formally quantified, T1 potentially offers a substantial lift to the quantum of this mineralization".
In other words not only is this T1 target (which appears to be a high grade lead zinc orebody) open in multiple directions there have been numerous other intersections grading lead and zinc (from holes targeting copper) which may indicate a big near surface lead/zinc/silver system. The announcement also
states that normal surface and downhole EM Surveys (which have been used so successfully in identifying
where the copper is) does not appear to detect lead/zinc mineralization.
5) High grade lead/zinc ore, particularly near surface ore has the potential to drastically change the MB project from one of significant potential to one that is on a clear path to production. I still believe there are other copper lenses in either the hanging wall, down dip or along strike from the current discovered one. On top of that I now believe there is a high grade near surface lead zinc orebody. The only question is how big is it?

I am buying more shares.

Good luck to all, mostly those that have been here a while.

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Thank Bull.
Quality report - as usual.
Cheers

PEX Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Ann: Shallow High-Grade Zinc-Lead-Silver at Mallee Bull, page-25

Top Stories

Is the ASX getting its groove back? Here's 5 IPOs in September to watch

Strike hits "significant" 28m of net gas pay downhole Australia's deepest ever gas well; extends system east

Great Boulder hits fresh gold finds to the north of Mulga Bill in Meekatharra, WA

Restaurant Brands posts record sales in half year report for FY24

Golden Deeps sniffs 80-metre-long copper and zinc sulphide zone at NSW's Havilah

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