For the majority of my career I've worked in exploration, my thoughts are that if there was a 50mbls plus deposit of high grade uranium near the project it would've already been found. i mean BHP have been in that area under other company names or held tenements there since 1975 when Olympic dam was initially discovered.
The CEO of AGE did say that there had been previous workings in that area 14years ago, surely by now someone would have found something. however that type of deposit generally is never big in scale atleast not in south australia with the exception of honeymoon is probably the biggest insitu deposits in that area as Olympic dam is open pit and underground with sub level stoping which requires a vastly different orebody than an (insitu mining) type deposit. DYL is another example, big scale open pits and not insitu at both deposits mulga and tumas . The processing facilities at Olympic dam sort out the material.
So i had a second look because Ive never seen the exploration license for AGE'S south australia projects
This is from one of the latest announcements, it doesn't show you historic drill holes and current
this next one shows the drill holes within that tenement
if you look you can see the current drill holes and the maps look the same, i noticed the small pot of water which helped me find the hole data within the tenement that they are exploring on (EL5926)
This shot below is another one the company released
and then as we zoom out of on the tenements we can all the drill holes on that exploration license and all the drill holes on the tenements next to it, BHP has drilled alot to the north aswel. Those squares that say EML is an old exploration mining license.
the most concerning thing is that red square directly over the projects main drill hits has been an exploration/mining historic site for how ever many years. so unless the data is incorrect i highly doubt there is a big deposit nearby.
i believe they will find more but i don't it'll be a big deposit in the future, i could be wrong after all this is what speculating is about!
BTW (phishpheet) john will not buy a small scale deposit when he has 2 big ones already, the idea for any company is to grow not to shrink!!!
(20min delay)