Back to DD hole 2 which should commence soon, I dug up Ashburton's drilling from 2010 (right) and as you can see the main target for them was TMI (magnetic highs in red). What you should find interesting is PKC023 which was drilled more north and away from the magnetic high and intersected a respectable 32m @ 0.46% Cu inc 10m @ 0.95% Cu and arguably one of the better holes from the 2010 program.
What's the significance of PKC023? It shows that mineralisation isn't associated with magnetics and from the visuals of the other 2010 cores, most of the copper found so far is in magnetite which is the reason for the magnetic highs. Unfortunately, there is no description of PKC023 but I wouldn't be surprised if the copper is hosted in hematite.
If we look at the classic IOCG deposits of SA, you'll find that the deposits are found in hematite breccias near magnetite that throws off that big magnetic signature. All the discoveries were made drilling near the proximal gravity highs, not magnetic highs.
Ashburton didn't do any gravity, hence, they were likely drilling in the wrong place!
I'm happy with where RCR are drilling DD2 (green arrow) as it's away from the magnetic high and into the main gravity target, also note it will pass through near surface strong copper anomaly (hopefully there will be some nice mineralisation of enriched copper in the first 50m).
As I keep saying, I don't expect much from the first DD hole but am waiting for the rig to move and drill what I believe could be the discovery hole.
Prominent Hill geophysics, hematite copper deposit in pink and baron magnetite black - notice magnetic and gravity highs.
Carrapateena geophysics, again pink is the gravity "bulls-eye" on the margin of a large baron magnetic high.
RCR Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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