announcement today, page-2

Hi all, New poster.

Feel free to disregard comments I make at your will, and remember always DYOR.

Now - SPI takes up all of the ground surrounding Lindeman's Bore while PRW are in halt, PRW retains 30% interest and gets 5% holding in SPI. A cynic would say that mates have been talking, and have worked a soft deal to bleed the market.

Deals based on what? - here's a breakdown of "that" announcement that's worth thinking about.

The Cu mineralisation noted in the diamond core from Lindeman's is secondary, sediment hosted copper of unkown mineralogy (visual appraisal suggests Chalcopyrite)
This style of mineralisation is genetically unrelated to Norilsk style orebodies, however it is very common in sediments that have been interlayered with mafic volcanic rocks and then undergone low-medium grade metamorphism (like so much fo the NT). the word "Norilsk" still manages to find it's way into the announcement a heck of a lot.

What happens in places like this is that the "fertile" mafic rocks, when in contact with fluid conatined within the rocks (typical in sediments that are deposited in water rich environments) under a bit of temperature and pressure, "sweat out" copper, which is then deposited in the adjacent sediments as a result of Ph changes between fluid and sediment host. These proceses also form the dissolution cavities "vugs" that have also been mentioned in conjunction with the copper min. in this diamond hole.


PRW's announcement states that mafic volcanic sills sintersected circa. 528m "were the style of mineralisation sought" -besides this being a total misnomer (a mafic sill is a target OR a rock type, but is NOT 'mineralisation') then go on to note that the mafics are in fact NOT the mineralised portion of the core.

Its also worth considering that a Niton is incapable of providing representative quantitative data regarding Cu%. This problem is amplified by the inherently tiny sample size of a Niton. Unless it is clearly noted that multiple points were sampled along a specified length of core, I would be very wary of the repeatablility and "representativeness" of any claims referring to Niton Results.

Mr Mortimer also speculates on boardroom radio that this is the discovery of a "new world class province" - based on what? - there is a hint in the broadcast that other diamond core exists, but no mention of supporting evidence from this core has been made for the generally "arm wavey" bullish talk about Lindeman's. To make such a claim from dubious results from a single drillhole is grossly inappropriate.

August should be interesting. I question the turnaround time for assays, and IMHO things will tank post-assay release to the market.

Perhaps some of this has been said before, but I think it is vital to treat such bold ASX announcements with a VERY large dose of skepticism when they are clearly so poorly written (intentionally or otherwise).

I'm not a shareholder, but I have worked in the NT and I have used a Niton. happy to answer questions if anyone has them - BUT - please Do Your Own Research. For all you know I could just be a crazy old man.