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34.0¢ waratah minerals limited

Ann: Further high-grade results from Spur drilling, page-274

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kecoabb

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09/08/24

17:49

Post #: 75146680
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Originally posted by Seth Davis: ↑

I'm not phased with the shares coming out in the first tranche on the 13th, 7.3m shares can be absorbed fairly quickly. As others have pointed out well, people sell for all reasons and I'm hoping we see some pressure back to low 20's before the back half of this month (assays incoming).

Back to the boring stuff, WTM appear to be cracking the code on the mineralised trend and importantly they're understanding the post mineralised faulting which is off-setting the lodes. Black boxes are the lodes, red arrows the faults and red circles where there's been little to no shallow drilling. There have only been two deep holes drilled >150-200m in those boxes, this I believe is where the big lift in tonnes can be achieved quickly, going down dip of known mineralisation, which is exactly what they are doing in the current program (green proposed RC holes). Hopefully, we continue to see an increase in width and grade which appears to be the trend in recent drilling, and don't forget the kick in copper too that could be telling for approaching a significant porphyry zone.

The diagram below shows the interpreted trend south which runs undercover and explains why no drilling by prior explorers were conducted there. The southern most black box has had no drilling and appears to be off-set by a fault again, are we going to see more of the same there? Hopefully, it'll be another big boost to tonnes.

I've calculated a very rough open pit tonnage for the first two black boxes to 250m depth for 18Mt, I'll let you all work out grade but 1g/t Au is a fairly safe place to start. Add if wee add the third box south, tonnes contained grows to 27Mt.

What if mineralisation increases in grade and width down dip to 500m? Well, I'll let you all work out that one.

Have a great day my friends.

Regards
Seth D

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nice posting
will buy more when the Cr supply is absorbed ( supply will be out 13/8)

WTM Price at posting: 30.5¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Last 34.0¢		Change -0.045(11.7%)		Mkt cap ! $64.20M

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Ann: Further high-grade results from Spur drilling, page-274

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Ann: Further high-grade results from Spur drilling, page-274

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