It's not everyday an ASX junior makes an amazing discovery, right at the doorstep of BHP
TM1's Dante discovery looks awfully similar to BHP's Nebo-Babel
I am reading a lot of comments mentioning low grade. Let me remind you that BHP's circa $2B Neno-Babel mine has a grade of just 0.30% Cu, 0.33% Ni, 0.23g/t PGE3.We have intersected grades higher than the above mentioned.
It is important to note that 14 drillholes is not representative of the entire resource. This is only the beginning of an exciting story IMO
I am reading a lot of comments mentioning the location. Let me remind you that BHP's Neno-Babel mine is only 15kms away with all the infrastructure.This could possibly be one of the best discoveries to come to the ASX in 2024, albeit early days, it is an exciting project indeed.
The Dante Reefs are a series of
gentle dipping, laterally extensive,
mineralised layers (similar to a coal seam)
which outcrop from surface and in total run for 42km.
Mineralisation defined over 3km in length from surface at Reef 1, while first assays at Reef 2 confirm a further 1.5km of strike
We have
assays from an additional 16 holes pending, to be released in the coming weeks.
Following the above, the team is wasting no time and
will publish an exploration target to give us an indication of the potential size of this discovery.Let me remind you that it is very rare for a company to drill the best hole in the first few attempts. As they continue to drill this out the story can change really quickly and significantly if successful
When ASX:GAL had an indication of a “Platreef” style PGE-gold-nickel-copper deposit, their share price shot into the hundreds of millions. It was only after they were not successful (too small and low grade) that the share price decreased.
For reference, GAL's deposit:
17.5 Mt @ 1.04g/t 4E1 , 0.20% Ni,
0.16% Cu (2.3g/t PdEq2 or 0.52% NiEq3 )
GAL is currently still valued circa $40 million market capitalizationTM1's grades are significantly higher, the strike is an eye watering 42kms
Mineralization already defined over 3km in length from surface at Reef 1, while first assays at Reef 2 confirm a further 1.5km of strike.
I think the exploration target here will show a figure that is quite substantial IMO
All for circa $20 million market capitalization, the RvR here is clearly in our favour
GLTAH
(20min delay)