HWDD06 commenced at 70° dip and planned to progressively drill hole to final 60° dip, based on HWDD04 findings. Expecting basement encountered @ 990m depth; essentially aiming to interpret basement geology by combining detailed gravity and high res magnetic datasets with existing drilling.
SO it makes absolute sense why they're targeting coincident gravity/magnetic anomalies for this hole. It's worthwhile noting relationship of mineralisation with hematite & peripheral/deep magnetite is very much established in all Grawler Craton economic deposits eg Olympic Dam, Oak Dam, Carra, Khamsin, Prom Hill etc. These all contain gravity responses as an offset to magnetic anomaly. Explains totally why CHK rank this target so highly.
If decent mineralisation intersected here or in the remainder of their planned 12 drill hole program suspect this could be bigger market response relative to COD.
CHK Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
