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Ann: Meleya Update - Significant Discovery At Orion Target, page-471

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belsmith72

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30/03/22

20:54

Post #: 60531353
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Originally posted by pagarsi: ↑

After Metaldomes words of caution I sought out and had a lengthy conversation with someone who knows more about this stuff than me, someone who has made enough to retire on dabbling in low cap miners For what it is worth I would like to share my research. The current drill results in themselves, at the depth they were found, are unlikely to ever be mined unless the assays are particularly rich or they can be replicated over a large area (more than one kilometre). The large area opens the door to an open pit mine, although 700 metres is getting towards the limit of open pit depth. This is why the next drill results are so important. 300 metres is not a kilometre but if the sulphides are consistent it will be a very good guide.
Remember also that copper, unlike gold, can be non-commercial when visible, that is less than 1 percent.
Visible copper may not be a great indicator.
Where my colleague was more bullish is in the vast area of unexplored greenstone still to come and the first drill is a great indicator that there is plenty more to be found.
Also remember we are waiting on Euro assays which were from near surface, much less cost to mine. For all this we still have current lithium and to be granted future lithium tenements. Hope this informs your judgement on wether to hold or sell.
Foe newbies, we are nearly out of money and we have known that there is an imminent cap raising. The good news is that it will be at a substantially higher rate than it was a week ago.

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mine??

they are on hole one and hit it, hole two is coming. there is no mine or commercial decision on two drill holes.

exploration investment is about prospectivity and potential, why are you making a decision upon revenue?
1 Upvote

0 Great analysis

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Ann: Meleya Update - Significant Discovery At Orion Target, page-471

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Ann: Meleya Update - Significant Discovery At Orion Target, page-471

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