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sircorp

13,234 Posts.

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01/06/23

16:53

Post #: 68084237
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Originally posted by sircorp: ↑

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As per my old calculations at back of envelop, Black Swan Disseminated Mineralisation Zone is huge. Two years back we discussed it several time and I even posted lots of picture. I will see if I still have some of them on new laptop(I generally clean my Laptop regularly). 2 years back, TB raised the issue of Black Swan Disseminated Mineralisation Zone why it is not included
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Below are extract for POS annoucement in Dec-2021.
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To further de-risk the Black Swan restart it is important to understand the distribution of the more metallurgically favourable serpentinite mineralisation below the existing Black Swan open pit. The current Serpentinite Model was developed by a previous owner of Black Swan, over 10 years ago, on limited information, and is not well constrained, as shown by the RC drilling program undertaken in 2019.
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Ongoing drilling in the BSD resource area has indicated consistent wide intersections of serpentinite in the disseminated zone. Further drilling in this area commenced mid-December with the 15 hole program.
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Most of the Black Swan disseminated mineralisation beneath the pit is in the Inferred Resource category. While these resources can be used in preliminary pit optimisation designs, they are not able to be converted to an Ore Reserve.
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"That is what Peter Harold is trying to do and carried out 10750m drilling. Another few days will not hurt, we have waited for it for 12 months.

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Back in late 2019, Ex MD did carry out drilling below the pit into Black Swan disseminated mineralisation. Just four holes were drilled. Peter Harold moved in at POS in late 2019.
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Results of those 4 holes are
- 28.0m @ 0.95% Ni (PBSC012 from 96m) including 13.5m @ 1.27% Ni
- 31.5m @ 1.00% Ni (PBSC012 from 133.5m) including 18.0m @ 1.20% Ni
- 28.5m @ 1.07% NI (PBSC011 from 172.5m) including 6m @ 1.61% Ni and 7.5m @ 1.31% Ni
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Average grade above 1.1% which is very good.
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Last edited by sircorp: 01/06/23

POS Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
6 Upvote

2 Great analysis

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