And we have the data to match. IGO’s Nova deposit has become a...

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PizzlyBear

126 Posts.

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24/01/22

19:17

Post #: 59098250
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Originally posted by sanchopanza: ↑

"This is normally a very important survey in locating traps in oil & gas exploration. With current massive dataset at hand this survey should immensely aid LEG in understanding structural and/or stratigraphic traps in order to identify targets with possible Ni accumulation. Game on."

I thought I should elaborate a little bit on this and especially on quarterly activities report segment "It is important to note that Legend has a large geological data base at Mawson which will greatly assist in fingerprinting features identified by the interpretation of the seismic survey data."

Seismic surveys are used to create an image of subsurface rocks. Different rocks (sedimentary, basement etc) and rock deformations (i.e tilting, faulting, folding, reefs - structural & stratigraphic traps) reflect sound waves back to surface with different velocities, hence we are able to create an image of subsurface rocks. 3D surveys in O&G industry have enabled the companies to pinpoint optimal points for drilling (by identifying traps) and in addition to fingerprint what we call bright/flat spots (gas/oil-gas zones), aka signature hydrocarbon spots.

Referring back to an announcement on 14/12: "In addition, a more detailed survey on the western side of the survey area has been designed to test for a direct detection signature of Ni-Cu-Co sulphide accumulations at the Mawson discovery zone, given the shallow nature of mineralisation (<250m below surface)". Given LEG's extensive dataset at hand (especially DD core) and knowing zones with high Ni grades from DD, I imagine they'll be able to analyze seismic response at those depths and fingerprint "Ni bright" spots at those zones (i.e. sound wave reflection signature specific to Ni enriched rocks). Hence analyzing all of their 3D data and using this fingerprinting method, they'll be able to identify traps with bright spots (Ni accumulation) and prioritize those targets for drilling.

I'm speculating now (based on the recent trading that resulted in a speeding ticket), but I reckon they have identified their "bright" spots signature when they incorporated the western zone data set and the Christmas tree lit up - that would have been their Eureka moment.

Looking forward to their next announcement wrt findings about "signature of Ni-Cu-Co sulphide accumulations."

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And we have the data to match.

IGO’s Nova deposit has become a testing ground for the company’s geophysical exploration. The company has been pushing the envelope with geophysical technology, successfully creating a high-resolution 3D seismic cube that has been accurate beyond its expectations – an achievement chief geophysicist Andrew Fitzpatrick believes is just scratching the surface.
Gerard McArtney
AUSTRALIAN MINING REVIEW

LEG Price at posting: 7.8¢ Sentiment: Hold Disclosure: Held
10 Upvote

2 Great analysis

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