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Ann: Carnaby Successfully Completes A$20M Placement, page-108

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Immetoday

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04/05/23

05:33

Post #: 67596458
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Originally posted by martie: ↑

For the Mount Hope Central deposit given the limited length of the deposit being only 200m it's hard to see the potential resource.

My estimates are that given the 200m and given the following:
let's say 20m wide which may be a bit optimistic
grade of 2.1% Cu (average)
depth extension at this current time being 280m. Indicated potential at 550m?
density of 3.5.

Using 20m by 280m by 3.5 by 200m gives us around 3.9 million tonnes @ 2.1 % Cu (using no gold credits. If extends to 550m gives us around 7.7 million tonnes. I think that the grade would need to greatly improve or would need to extend the length to perhaps 400m.

Given the costs associated with underground mining this deposit appears too small. There should be some desktop studies in relation to determine what is the minimum size and grades required to indicate if it's even genuine target that can be potentially developed in the future. There could be a lot of expenditure on a project that is not likely to be mined given its limited 200m length.

I don't hold but interested in terms of assessing the project scale. Good luck and only my thoughts here.

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….brace yourself.

CNB Price at posting: $1.16 Sentiment: Hold Disclosure: Held
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Last 49.5¢		Change -0.015(2.94%)		Mkt cap ! $85.10M

Open	High	Low	Value	Volume
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Ann: Carnaby Successfully Completes A$20M Placement, page-108

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Ann: Carnaby Successfully Completes A$20M Placement, page-108

Top Stories

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Venture to sniff out high-grade REE targets at Jupiter project, WA

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