Longer than the announcement with these two posts! Lots of ideas and concepts packed into the announcement.
A very active programme going on at the Calingiri project. Reading this announcement again showed I missed some aspects of this.
The highlights with numbers for reference:
1 Semantics but I would say the recent aircore has firmed up the 2013 aircore results that hinted strongly there was some anomalism to the east of what became Bindi East.
The focus since 2013+- has been largely on getting a handle on Bindi and to a lesser extent Dasher and elsewhere. There were/are hints of other targets but they have been on the back burner, for the most part, and rightly so.
Determining what is at Bindi 'far east' (needs a name) is going to be important for logistical reasons even if it is not going to add significantly to the MRE. IMO it will, though any development can probably be factored in at a later stage as long as no infrastructure is built that impedes such work. (See 5 below as well).
Recent work at Dasher South (and perhaps on strike at Dasher far south) has shown the potential for possible strike continuations of the Dasher main zone. If correct this would mean the strike length for Dasher combined would be some 3.5Kms.
Best assay at Dasher south in hole 21-32 of 32m @ 0.38% Cu some 1.5Kms south of Dasher.
SCHEMATIC SECTION
The details of continuity will require significant drilling to confirm what, if any, there is. However, initial visuals are promising (18/1 announcement):
A line of five holes (21CARC128-8132) has been completed at 6,564,700N south of Dasher, visual estimates of mineralisation show an east dipping mineralised system consistent with being a southern extension of Dasher.
The continuity of potential ore grade mineralisation shown at Dasher and Bindi IMO augers well for future exploration along trends that have, to date, had limited to no testing. Structural complexity adds to the problems of exploration but can also be a possible benefit as shown by Bindi 'far East".
2 BOH samples from near fresh samples are encouraging. What do they mean?
Well covered in announcement.
Probably indicate the top of bedrock sulphide mineralisation which may be similar to Bindi along the folded strike continuations to the west. The RC traverses will be interesting.
Aircore chips can, in appropriate rock types, be like small pieces of rough thin drill core. If the visuals mentioned in the Ann. are from these <= 10cm 'sausages' (politically correct word) then they are pretty reliable.
The worst case scenario could be smearing from the zones to the west. Not likely.
Another scenario could be low grade zones with local minor high grade pods/zones that is sub economic though geochemically anomalous.
3 Corollary of the above.
4 If relatively consistent this supergene blanket could be sent to a leach pile and help strip ratios if mining ever happens in this area.
5 Sterilisation vs Exploration.
IMO these 31 holes have been more for exploration as testing for the continuity of the Bindi folded mineralisation was pretty much a no brainer other than in terms of timing.
That being said relatively large sites are needed for a plant, tailings facilities and waste dumps, among many other logistical features. The lack of drilling combined with reasonable exploration potential make sterilisation drilling important. Very expensive, prohibitive at times, to relocate infrastructure to dig a new pit.
IMO Bindi 'far east' stands a reasonable chance of adding to the MRE in the future, AND it is open to the north and??where.
Costs ($s and CO2) increase with the distance ore and waste need to be transported.
I have vague recall that waste and tailings facility sites have been penciled in but may need some sterilisation drilling.
Putting the comments about up coming aircore drilling onto the Bindi plan shows quite a lot of drilling may be needed.
GOOGLE EARTH
This image probably has most of the RC and DD drilling. Not certain about aircore and/or auger coverage.
Areas A, B, and C have very limited apparent previous drilling.
What land is available? Important Q for the PFS etc.
Assuming close proximity to the MRE at Bindi though Dasher is a likely feed source in the future.
Farm land and salt impacted country.
Farm land may be easier for the plant but "wasteful" for waste and tailings?
Virtually no drilling has been done in the salt country.
Some may be inaccessible to standard drill rigs. ?how much?
The 2014 DDH #2 was in the "degraded" area.
If this salt country is environmentally and practical for waste and tailings facilities then perhaps they may be prime sites - good location (close/
Plans are for two rigs on site for a couple of months.
Roughly speaking 300m/day/rig for 60 days would amount to 30000m+ in perhaps 1000 holes at an average of 30m+.
A lot of drilling but large areas to test if areas are not prioritised.
Two rigs (may) have been on site of most of January and February. Not leaving much evidence on Sentinel satellite imagery that I can see.
6 Covered in previous post.
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Budget considerations?
Is there a CR on the horizon?
Can't say I'm a great fan of this method of estimation.
But given the expenditures may be in the same order {2 RC, 2 AC, 1DD rigs for most of this quarter vs 2 RC and 2 DD last quarter.} fair enough for this time.
PFS costs probably worked into this already.
Getting low in Q2 so maybe towards the end of that
Everything is pointing towards a mine here BUT where does $1B or so come from??
(20min delay)