Ann: Copper Wolf Project Drilling Update, page-10

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sell30APRat142

265 Posts.

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25/07/23

20:14

Post #: 68977029
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Originally posted by setfire2thehive: ↑

how about both?

if these aren't great then BHP might need a heads up on their ocelot copper project (which was flagged in their quarterly as one of their major copper exploration/development projects. they are hitting the same type of stuff 100-200m deeper than this.

Also FWIW Buxton have already got on this project based on historicals. it was estimated at 380mT cu at 0.8% based on previous results. the best part is this was based on exploration from 30/40 years ago and never went beyond the current depth. Their previous interpretation of results indicated a deeper porphyry feeder system is present. the recent core pulled and strong veining and alteration therein validates this a true Laramide porphyry.

essentially there is 380mT there before they even test/find out what lies below. they may not hit the main lode in their first drill hit, but previous core looks extremely good, so only a matter of time. (thanks to IGO for funding the drilling/exploration)

if copper results like these are good enough to live in the quarterly of BHP then that's plenty good enough for me at 20-25m EV.

that also doesn't include their graphite project which is one of the highest grade graphite project in AUS.

SF2TH

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Have to admit / agree this (from BHP) is making me more and more interested in what I thought was a fairly banal copper side gig.

Compared to this (from BUX) where the historical drilling caps out at ~900m but on average more like 700m,

i.e the BHP intercept lengths commence below where the prior Copper Wolf drilling stopped!

So as you mention you are getting equivalent - better grades with 200m less overburden and (hopefully we find out) to a similar total depth thus ideally lifting the average grades and the intercept lengths. If that all plays out then the resource size gets a huge kick, and one ideally big enough to make the overburden seem like a small inconvenience.

BUX Price at posting: 15.0¢ Sentiment: Hold Disclosure: Held
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