Hi Byron,
Short answer, maybe, but probably not.
This hole once again is a spectacular development but a near miss of the orebody we are after. I'll give a bit of background to the vein classification and what I reckon is going on but before I do I have to say that a lot can be read into Cairns drilling hole 17. Particularly, because drilling holes so quickly one after the other is unlike his normal procedure of examining the data in depth and then moving forward. Long story short I reckon we are damn close.
Now to the veins from oldest to youngest:
A- Very early quartz only veins very proximal to the mineralising intrusion.
M-Early proximal veins grading from magnetite to magnetite-bornite, magnetite-bornite-chalcopyrite, magnetite-chalcopyrite, magnetite-chalcopyrite-pyrite and finally pyrite if present at all.
B- These host a significant portion of the mineralisation and follow the same zoning from bornite to chalcopyrite to pyrite.
C- Sulphide only veins which commonly overprint the earlier veins and are often dominated by chalcopyrite.
D- Late and distal veins that follow the same zoning from bornite to chalcopyrite and finally pyrite.
The AB veins are B veins formed from the opening of A veins and injection of sulphides.
It is evident from the intersection of the A veins, magnetite alteration with disseminated bornite-chalcopyrite and biotite alteration that we are very close. However, my interpretation of the D veins below the LAS is that they are the same as the ones intersected in holes 4 to 8 on that section. This means that the distal Py dominant mineralisation has been moved west below the M veins intersects suggesting that the continuation of the M veins and bornite dominant mineralisation is further t0 the west and if I could guess id say it is between 120 and 250 meteres away.
I suspect that this is where hole 17 is going. Bottom line is that we need the bornite dominant mineralisation to have high gold.
These are some usefull presentations that run through much of the mineral and alteration zoning for those interested.
https://www.aig.org.au/wp-content/uploads/2013/05/Doug-Menzies_Corbett-Menzies.pdf
https://www.smedg.org.au/Menzies_CMC_Porphyry_Cu_Au_Nov2013.pdf
Please do your own research, do not use my opinions as an investment guide.
GLTA
CC
