The catch is that its only a small 15m x 10m pod which is only 1-2 in width and is adjacent to old historic workings which are probably flooded, inaccessible and will require development with obvious geotechnical risks to get near.
Fig 2 seems to show the potential of numerous very skinny and very high grade ore shoots, you can bet that the geology will be extremely complex. Have a look at the depth of some of the deeper ore shoots and work out what the development costs will be to mine them underground. Anything less than 3m in width has even higher mining costs due to the highly selective nature and specialization required.
Having said that - its a very interesting area and judging by the number of proposed holes clustered below Edna Beryl West I would imagine that there is a high chance of some of these holes being successful. If they can drill it all out eventually there could be enough tonnes at a high enough grade to open pit the entire thing (which would be cheaper).
ERM Price at posting:
4.1¢ Sentiment: None Disclosure: Not Held
