Good summary Rob, I had a chuckle when people were poo pooing...

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Crimsoncarp

1,379 Posts.

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07/06/21

20:17

Post #: 53700461
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Originally posted by RobThomas: ↑

Well now the market's closed and we took the 10 cent hit lets think about the reaction & results.

1) Anyone reading this in 5 minutes and says "I'm disappointed" is clueless. Sorry, boys, you're idiots (no offence intended). I read it and I can see potential and I'd happily stack my qualifications against yours any day. Just saying, so a bit of caution when accusing people of pump & dumps, etc. Read a geology textbook, get a degree or 2, get some industry experience, and then challenge I'll welcome it. This is greenfields exploration over virgin ground using cutting edge geophysics and data processing followed up by fieldwork. If you can't handle it the door's that way, this is a 2 year journey.

2) I'd suggest the drilling contractor was changed out because the rig was rubbish, the driller was inexperienced, they were burning out drill bits, or they weren't getting the core recoveries. One things for sure, they'll have changed for a reason and that reason is better performance. Its all good.

3) So back to point 1. From this survey I see the EM targets are controlled by in strong NE-SW corridors (the dashed lines) cross-cut by NW-SE running faults (the thick black lines). Where you get cross-cutting features like this its good - you tend to get things happening where the structures intersect. The survey shows 2 or these - one over Focus Area 1; and another with a longer strike length making up Focus Areas 2 & 3. The discrete EM targets are super strong, and all need drilling to assess it properly. Hopefully some come in as good Ni-Cu prospects, but they could all be iron sulphides. Time will tell.

4) The small tenement Hooper appears barren, its a long way from the Narryer suture.

5) The Belele target area looks really good. S2R recently pegged the dog leg running NW-SE from the southern end. Its got great aeromag targets coincident with EM targets. A cracking little are, obscured by alluvial, but now illuminated by geophysics.

DM1 is stronger than it was Friday afternoon. Its all good.

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Good summary Rob,

I had a chuckle when people were poo pooing the announcement this morning but hoped they would precipitate a drop to top up on. Worked out well.

Amazing thing about the terrain is how well it is suited to EM and the low cost with which they can test 10-20 targets across the whole belt and as you say most of them will be pyrrhotite but just need one or two to be mineralised and it's a massive win.

cheers
CC

DM1 Price at posting: 75.0¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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Good summary Rob, I had a chuckle when people were poo pooing...

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Good summary Rob, I had a chuckle when people were poo pooing...

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