The results are not great as they show that strike extensions to known mineralisation may be limited. Just getting their eye in really.
I was interested to see Damien interviewed this week. He talked about the Liontown drilling and avoided using the term 'feeder zone' however he then proceeded to discuss this theory and the fact that he believes they hit it with the 2 holes, calling it a fault zone for fluid flow. He clearly is still a believer in this although a little more cautious in how he talks about it.
He did say that there will be a resource increase and a decent increase in the higher confidence resources from what are currently inferred resources. This will be an important resource statement. Can we get to 6 million tonnes? Given the high grades I think a future increase to 10 million tonnes is possible after further drilling, this may put it in the category of being economic to build a stand alone processing plant. I have no idea if the current resource is enough but my view is that 10 million tonnes is likely to be enough given the ore is worth $450/t contained metal.
DYOR. Not investment advice.
SHN Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
