Open pit mines can have mineralisation that starts 100m below surface even deeper depending on what shapes the deposit has.
These porphyry deposits are large ore bodies and hence when they are deep we need 1%CUEQ+. The way I see it is we can get 2 or three modest pits developed with longer term work on a larger underground operation. We could have over 2bt in mineralisation, but most being sub economic deep lower/mid grade.
The company should bring in a larger partner with underground development experience. I would think block caving exp is preferred due to the nature of the deposit. We could have an underground cluster development where grade supports development.
XAM Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
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