Looking again atthis announcement, I really think market is ignoring significance of this new mineralisation. How would market have reacted if MOD had found a 75m intersection say 2km along strike? It would have been a lot more than the 17% jump or something MOD have seen, but the economics of a thicker T3 deposit and chances of this new band extending for a similar strike length under T3 are probably better than if they'd got the same hit somewhere along strike.
In the announcement MOD talk about the mineralised zone in 65D now being 156m wide. That's of course not true width as that 156m in made up of various bands of copper sulphides. But speculating for a moment, imho the depth of mineralisation they're now seeing makes it more likely that there will now find further T3s along strike. This is what they said in the Maiden Resource announcement:
"Mineralisation can be best described as a sheeted vein deposit dipping at 25 degrees to the north. Interpretation of the drilling data has defined a shallow north east plunge. The thickness throughout the deposit may represent multiple stacked, mineralised horizons, thrusted one upon the other."
65D suggests the vertical depth has essentially tripled. If they're correct on their interpretation of the sheeted vein mineralisation being hosted by the thrust fault, then given the thrust fault is a regional-scale feature many kilometres long it is surely improbable that the mineralisation is limited only to a small 1km part of the thrust fault. There were clearly massive processes involved in forcing the mineralising fluid up into multiple stacked horizons of veins up to 150m thick - yet somehow only over a 1km strike? MOD just need to come to the party with another strike to prove this theory holds.
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Ann: 75m Zone of Mineralisation Intersected Below T3, page-22
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