So I reckon after the completion of this latest set of drill holes, we should be looking at a much improved updated JORC, SS, which will then impact on the upcoming DFS. I'll put up the links to the relevant announcements at the end of this post.
Here are the best historical drill holes done on the project back when it was still owned by Freeport-McMoran, taken from the investor webinar preso that the company did when we initially acquired the MCB project (released 18/03/2021, after the new drilling campaign was started on 26/02/2021, but before any new results were announced):
The Maiden JORC was done based only on historical drill results (12/01/2021). The resource estimate in that JORC was:
And of course, the SS was completed based on the Maiden JORC (01/12/2021):
I think you will agree that the original JORC and SS were certainly not too shabby themselves. Now here's the thing. MCB-038 is far superior in terms of both grades and thickness than all the best historical drill holes. I'm pretty sure this result alone will significantly improve the JORC, which will in turn have a positive impact on the SS. Plus, there are more drill holes to come. If those turn out to be of similar quality to MCB-038, I think the increase to the size of the JORC will probably for exceed everyone's expectations.
Links to announcements below:
MCB Maiden JORC: https://clients3.weblink.com.au/clients/celsiusresources/headline.aspx?headlineid=61015255
Investor webinar preso: https://clients3.weblink.com.au/clients/celsiusresources/headline.aspx?headlineid=61025269
MCB project SS: https://clients3.weblink.com.au/clients/celsiusresources/headline.aspx?headlineid=61066356
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