Ann: Tabac Project - Key Tenement Granted & Drilling Update, page-4

Hi Tysons,
Welcome to the wonderful world of HC. Some interesting questions you have raised.

IMO Pangea knows very much what he/she is talking about. In this post s/he hit too close to the bone for this old rock hound. In an earlier post Pangea says she/he was also a company director which, if true (no reason to doubt him/her, but this is HC), means he/she has probably had to make calls like the one JK is making.

I have had some email chats with JK and the impression I get is there is no definitive answer to the assay issue and he will be watching the core (?nervously) and assay results just a bit ahead of us here one HC.


My take on today's news is that Native Title has been "approved" on E53/1891. This means that actual ground work can begin on that tenement subject to approval of the POW (permit of work) by the Mines Department.

By omission E53/1895 the tenement with PP011 (80m/0.77% or 0% or ??% Co) is still pending.

The oblique? section between PP009 and 011 is presented again but in view of a question asked by a poster (?Lash) a few days ago I have thought about it a little more. Many assumptions go into this simple Figure 1. The impression it gives is of the top of the Bubble Well Member (red unit) going to the surface possibly near the Paroo Station Mine. However:
Is it a cross section or oblique?
Is there any structure between these two holes - Faulting or Folding?
Is the correlation accurate?
Is the interpretation that the stromatolitic unit actually is the Bubble Well Member?

JK suggested the Bubble Well Member 'daylights' as a roughly E-W striking unit at the southern end of their pending claim. This gravity compilation map may gives a hint of a WNW - ESE the strike of units in the Yerrida Basin in the area where the prospective unit crops out.

Assuming the Bubble Well Member strikes roughly E-W and dips north to NNE raises questions about the structure between PP9 & 11.

The abrupt reduction of distance between the 170m contour and the 364m contour implies, to me, there is structure between 9&11 or the strike and dip of the Bubble Well Member is not always E-W/N dipping . Or needs much more information.....





These questions are more academic at this stage and will be resolved in spades if the Cobalt is there.

Which raises the issue of pinkish minerals mentioned in the drill logs.

Above is the original log with a few under-linings.
Pinkish applies to part of the interval 371-375.8m. The mineral(s) may be those mentioned in the announcement but without access to the core it is probably informed speculation.

Pangea's comments about Co recovery from shales may be correct but it would appear these are variably calcareous units which will have their own metallurgical properties.

As Thunder54 said last year this is a 50/50 punt and IMO nothing much has changed after much discussion.

DLE/RIR have presented summaries of historical data and I have posted a bit of the original data over the last few months and that is pretty much all there is to base decisions on for what is a highly speculative stock at the moment. Dyor

Drilling in February on RHM RIR JV ground .....

GLTAH