My estimate of hole depth makes assumptions that may or may not be reasonable or even accurate given the subtleties of interp from Sentinel.
If there are only two holes drilled in a two day period, and the drilling is relatively effective (average penetration (if there is such a thing), no breakdowns or delays etc etc) then the range of depths I suggested MIGHT be OK.
I did not consider why they would drill 150-250m holes consistently.
The announced program was for 6600m in 83 holes which give an average of approx. 80m each. If they are drilling deeper holes then they may be blowing the budget, drilling is slower than expected, many possibilities including the best case scenario of good results encouraging deeper drilling. ALL HIGHLY SPECULATIVE.
DT did mention there would be a mix of vertical and inclined holes and the Image in the announcement showed (what, I assume) is the first hole being drilled at an angle (assume -60 degrees and probably east). From here it is speculative as to what dips, azimuths and depths are involved so the following two sections give a range of these possibilities.
Hole spacing on Fences 1 & 2 is at a nominal 80m whereas the average for the rest is ~160m.
[Drilling inclined holes to give nominal complete coverage along a line requires the hole depth (at -60) to be at least double the distance to the hole it is testing under. 80m spacing implies 160m minimum length. This type of drill pattern is more common in gold exploration and not what I would expect DRE to be doing at C1-5 other than perhaps for the first couple of fences where they are getting a feel for the geology. Even then IMO it could be a bit excessive.]
C3 Fence 1 to NW
Holes 5 and 8 are probably inclined to the east. Hole 5 to try and define the western margin of C3. Hole 8 to test deeper extensions in possible areas of exclusion along the Lyon River (ditto Hole 9 on fence 2).
This fence of holes is a test of the relatively unknown. The distribution of rock chip samples and magnetics probably gives a level of confidence they are testing a relatively large intrusive body of carbonatite. As such the first line of holes could simply test into fresh rock to confirm the presence or absence of carbonatite a task better suited to aircore perhaps. DRE have chosen to use RC with a budget that allows them to drill holes to a reasonable depth and may have tested deeper on these first two lines to get a feel for what is down there. The remaining 70 or so planned holes may be much shallower with only a few deeper inclined or vertical holes.
C4 Fence 2 to SE A range of possibilities shown here - inclined and vertical, 100-300m holes. As with fence 1 holes 9 and 12 are probably inclined to the east.
The planned first pass drill coverage of C1-5 is designed to tag zones of mineralisation which are discrete within the interpreted carbonatites.
================================ Some 10 years into production Lynas drilled a deep hole under their pit.
HAS current resource 27Mt @ 0.97% TREO and good Nd/Pr ratio.......
Resource implications for Lynas at depth? Lower grade in fresh rock than weathered zone but possibly a bulk tonnage option.
The LYC deep hole is an example of a deep scoping hole.
Some large companies do this to work out if a deposit will meet their high (Tier1) standard or allow them to move on to greener pastures and leave small pickings behind. They quite often get it wrong. DRE are not in this league though a couple of 250m +- holes are possible at this stage especially if there is even slight encouragement.
The lack of announcements of visuals and/or XRF data contrasts to Yin and Sabre though the why involves even more speculation.
DRE Price at posting:
9.5¢ Sentiment: Hold Disclosure: Held
(20min delay)