Note Patersons research reports which highlights the potential of BUX to yield a Nova type deposit.
This is from Patersons research report:
The initial holes drilled into the IP anomaly have a grade of 0.5% Ni and 0.2% Cu, however, there are likely to be higher grade areas which the Company will target in due course that could yield a Nova style grade concentration (>2% Ni). A deposit of Nova’s size would be worth multiples of BUX’s current share price. Sirius Resource (SIR) which owned the Nova deposit was taken over for $1.8bn.
We've seen massive sulphide hits at (8m at 3.05% Ni an1.88% Cu from 35m) and f 17m (down-hole) @ 1.78% Ni, 1.16% Cu from 46m
This is from the first drill report of SIR back in 2012:
First hole (SFRC0024) – the discovery intersection -
intersected 4 metres @ 3.8% nickel and 1.42% copper where
predicted by the EM model, plus minor hangingwall zones.
Take a closer look at that first SIR hole and you will also see: 1m at 0.76Ni and 1.36Cu and 3m @ .031Ni and 0.69Cu at the start of the whole before that 4m intercept.
The next few months will be very interesting
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