Just as I thought. SP is doing as I expected post-ANN. Not much of that 50m intersection has economic underground avg Cu grades. That's the problem with using adjectives like "weak, moderate, intense".
There's not enough hematite in the Cu-mineralised core photos presented to indicate very high Cu grades. Lots of fragments, and these tend to be relatively poorly mineralised.
They'll get better results in terms of grade from the wedge to the east and worse results in terms of grade and thickness to the west. The wedge to the west and the interpreted fault to the east reduce the potential area of mineralisation. Not enough vertical thickness to block cave.
Being optimistic: 800m (north-south) x 350m (east-west) x 40m (thickness) x 3.3gcm-3 (density) = 40Mt = not enough at those grades
COD Price at posting:
$1.25 Sentiment: None Disclosure: Not Held
