Well the neighbour didn't go off and had an interesting but no cigar type announcement.
I'm really excited about the upcoming drilling at Atlantis to test the 3 EM conductors. While the company is using the +5Moz Stawell gold mine as an analogue, we can't discount the copper in this system found so far and while it may have formed like Stawell, the fluid and setting that formed the mineralisation is rich in both copper and gold.
Are the EM plates rich in iron sulphides (pyrite/pyrrhotite) and carrying abundant chalcopyrite and gold? Everything is point that way, hence, I expect the EM plates to be heavily mineralised and a very good chance of technical success.
The EM plates appear to be on the limbs of an anticline and EM plate 3 looks like it could be a fault offset and continuation of EM plate 2. These EM targets are not deep either at around 75m and offer low cost exploration.
At a market cap of $5-6m with +$2m cash KNB is low risk with very high reward opportunity with drilling the Atlantis EM targets and surrounds expected to start late June.
KNB Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
