ESR 0.00% 0.5¢ estrella resources limited

Action a plenty

  1. 59,147 Posts.
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    From the Quarterly there appears to be a lot planned over coming weeks and occurring at the moment.
    I don't believe the current parlous action in the SP on market accurately reflects the action on the ground and planned over coming months.
    For example:

    SIR WILLIAM WALLACE
    Sulphide mineralisation was intersected by NCB0002, though it was less abundant than observed in NCB0001 deeper down the contact. This suggests that the sulphide mineralisation could be increasing with depth at Sir William Wallace. A follow-up hole testing the basal contact at a deeper level is planned to commence shortly. This will be an EM platform hole, drilled at a low angle to the basal contact. The hole will be drilled approximately 140m east of NCB0001 and NCB0002, targeting a change in strike in the basal contact which is coincident with a subtle magnetic anomaly.
    SOUTH TREGURTHA COFUNDED TARGET
    The hole was drilled to a depth of 827.4m, before being stopped in late December 2017 to allow enough time to complete the co-funding interim report before the December 31 deadline. Failure to complete the drilling and submit the report before this date would result in forfeiture of the co-funding grant. The hole will be continued in the New Year, aiming to penetrate to at least 1000m depth and intersect the basal contact of the CBLC.
    A “Voisey Bay” style model has not been adequately explored within the CBLC. This represents a compelling exploration target opportunity which the Company will continue to aggressively pursue.

    MUNDA GOLD AND NICKEL
    A POW was submitted and approved for the drilling of two holes, targeting the high-grade gold zone intersected by MND1406. The Company intends to drill these holes as soon as possible.
    Closely associated with, but separated from the gold mineralisation at Munda, is a significant deposit of nickel sulphide. A JORC Code 2012 reported Inferred Mineral resource of 240,000t at 2.36% Ni has been estimated for the deposit.*

    SPARGOVILLE
    There appears to be plenty of scope for significant discoveries here.
    A drilling program completed by Minotaur in 2014 confirmed historic nickel intercepts. Results included:
     15m @ 1.41% Ni in hole SPRC001*
     16m @ 0.98% Ni in hole SPRC002*
     16m @ 1.82% Ni (including 6m @ 3.60% Ni) in hole SPRC003*
     24m @ 1.53% Ni (including 6m @ 3.08% Ni) in hole SPRC005*

    LITHIUM
    POW approvals remain in place for the follow-up drilling programs at Atomic Three and Inco Boundary. The Company intends to complete them in the first half of 2018.
 
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