This announcement deserves a very detailed look by anyone invested in or contemplating an investment in SLR. The more I understand about the potential of this copper discovery the more excited I get about the outlook for SLR. The 'mineralised envelope' (shown by the black dotted line on figure 4) is considerably bigger than I'd first anticipated. The green square (in the same figure 4) shows this is just a small portion of what we are going to see from this single target (first of nine targets). The maiden resource does appear to include the first lot of high grade 'massive sulphide' mineralisation but does not include any of the big 50m wide zone (@ 1.4% Cu) illustrated in figure 3. Future resource upgrades will be significant IMO even if the % grade falls below 2% (with the inclusion of this wide zone) the contained copper shown to date looks to be the tip of the iceberg. Possibly the most exciting piece of info' is from the diamond drill hole 12HOD011 (pictured in figure 1), the colour in the drill cores (while not quite as saturated looking as that announced in Nov last year) looks to be indicative of a repeat at depth like the original high-grade material closer to surface. The 'down hole geophysics' will likely give some clues to Les, Chris and the team and some clarity on the structure they're dealing with. Who knows what some deeper drilling may uncover? Also, as I understand it Les has indicated that the Hollandaire target was not the biggest of the nine so there's likely to be some even bigger surprises along the way.
SLR Price at posting:
$2.95 Sentiment: Hold Disclosure: Held
