No major surprises in this. Growing confidence in the lateral and depth continuity of the resource that should lead to a reasonable increase in resource confidence and hopefully (almost certainly) size. Perhaps a few pips extra for Cu grade.
[Before Mt Keith Ni was going into production one of the discovery team mentioned that each increase in the second decimal place was significant (e.g. 0.61 to 0.62%). Don't know how true the comment was but with several hundred million tonnes being mined since then I certainly wouldn't mind the 'small' change such a small increment might bring.]
Surprised to see the RC program not finished yet but it has been expanded and holes taken to greater depths.
Finally, assays for DDH 21-2. Worth the wait though the intersection on the east limb is perhaps at the limit of an open pit for this grade. The Late granite intrusive may be stoping out some of the mineralisation on this section. The faulted contact and interpreted antiform hinge are geologically interesting.
There are gaps in the drilling which may need to be filled before final decisions are made. Probably not much point in drilling deeper than -300 RL (approximately 550m below surface). Even -200m RL is probably as deep as is practical unless one or two deep scoping holes are tried.
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I am looking forward to the structural interpretation. My 2c worth is in this PDF updated with results in today's announcement.
Used a previous version and added data and comments (light blue).
While putting this post together I noticed the east limb synform on 6574300N. I suspect it is highly speculative. Suggestion of asymmetry along the fold with the dip of the axial plane flattening to the north and the plunge also flattening.
================ The preservation of a probable porphyry deposit from some 3000 Million years ago is quite amazing. To find one that has been stretched and folded without losing continuity is likewise amazing. The later intrusives (granite and dolerite) have behaved themselves, for the most part, and not disrupted the mineralisation too much.
What is the relationship of Dasher, Opie and others to Bindi? One large stretched deposit or, more likely, other centres of mineralisation as is relatively common in more modern porphyry deposits/camps.
============= Share Price - been flying a bit like a lead balloon for the last month or so. Suspect the TA trained would have something to say about it. I was constantly surprised how it did fly to the low 60s. While dropping back to the 40s (hopefully not the 30s) is not great it may be a gathering of strength for the next move up. The daily patterns seem to be a weak green till midday or so then a sell off to finish red or even by close.
TA and FA in a struggle? Bots? Scoping study positive - not allowed though. Probable increase in MRE plus Cu price since then auger well for the future.
CVV Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
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