Ann: Drilling Results - Bindi Copper Deposit, page-5

It could be a matter of expectation? Being generous?


Bindi is likely to be (will be!) below the current world average ore grade for open pit copper mines of around 0.5% Cu (Been falling to this consistently over decades).

However, the size, consistency and good logistics are likely to make up for this grade as has been shown in the disallowed 2019 scoping study. @Blythefanput a few posts on about this study. The link is to the post mentioning Boliden's Aitik mine in the north of Sweden - Some figures from the Boliden 2020 annual - Cu is slightly lower than Bindi but Au Ag compensate. At these reserves with some 40+Mtpa production exploration is not a high priority for this project ... yet.






An increase in the Bindi MRE has been flagged from the successful deeper diamond holes reported so far, and perhaps from some of the higher grade infill drilling on Bindi East.

The 2019 scoping study is not to be used for investing purposes. The MRE it is based on is Jorc compliant.


Covid may have put a little dent in the more advanced feasibility plans envisaged here but they are getting close.

The 2019 MRE is the combined resource of Bindi, Dasher, and Opie.


With the infill drilling added since this resource I expect there to be some measured resource for Bindi in the upcoming MRE for the project. [Dasher south hasn't had enough drilling done yet. Though, perhaps enough to scrape some addition into inferred; Opie ?]

Poor? Looks like it could be a mine with decades of life even if it is low grade.

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I sent an email to the company this morning asking why DDH 21-D2 assay results haven't been reported although positive visuals are shown on sections. May have answered the question already - whole core being used for comminution and Mett testing?? None for assays?

DDH 21-15 shown on a section means a lot of DDH holes have probably been drilled. 3 are for comminution and Mett testing leaving quite a few for assay.

DDH 21-10 (6574400N) was drilled grid west, away from Bindi West and potentially down dip! Target? Purpose? 300m hole. Geotechnical?

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Some comments on assays for this announcement:

6573600N - 21-D3, 21-52 very encouraging grades and lengths to 300m or so vertical. D3 has a gap in higher grade that is not reflected in nearby 52. At Depth D3 grades are relatively low and patchy in the ?keel of the interpreted fold. Hole D15 will be interesting.

40m north of this section 3 of 6 infill holes have been reported.


Geol 101 join the dots with horizontal lines but may be the wrong interp with dips and folds.
Reasonable continuity between 6573600 and 700N - grades a touch low at 0.25-0.3% generally?
Looks like mineralisation will extend deeper.

Have all/most of the infill holes been drilled vertically?

The plan view shows proposed holes at the north end have not been drilled yet. Satellite imagery suggests some have - perhaps diamond holes for some sites though not likely.

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• Assays 4-5 weeks turnaround,
• geology model coming,
• Infill drilling to be completed in July (been quite slow? Weather?) means the MRE will be? Delayed?
• Lots going on that will be reported in due course.