HI benz.My guess is that we don't know nearly enough to make an...

HI benz.

My guess is that we don't know nearly enough to make an informed guess..

We do know that the exploration targets were based on a cut off grade of 0.8% cu and that when the 2021 MRE was released which upgraded the Kavanagh resource that there was 30% more copper at a cut off grade of 0.6% than their was at 0.8%.

That would indicate that about 2mt of the 5mt of ore in the kavanagh MRE was ore between 0.8% and 0.6%

To cut a long story short dropping the cut off grade seems to add about 67% more ore to the exploration targets. All be it a lower average grades.

The exploration target for the Kavanagh. Spitfire and Nugent lodes is 7.5 to 10.34 at a cut off grade of of 0.8%

If the 66.7% increase carried through we have an Exploration target for those lodes of 12,5Mt to 17.3mt at a cut off of .06 % so there is plenty of head room for improvement of the 5.7mt we have in the resource and the 3.6mt we have in the Stage one mine plan





For those who like a bit of detail


We have been told :-

"A further drilling program is now underway to convert the Inferred Resources at Nugent, West Kavanagh, Spitfire and South-West Kavanagh to Indicated Resources and to test drill the down dip extension of the North Kavanagh mineralisation."

On the surface that seems like making things more certain rather than adding much to the quantities.

The slide showing the MRE extents in the North South direction seem to indicate that the full extent of the resources in the MRE areas is already indicated or inferred.

To add a bit of mystery the east west section slide confirms that there are layered lodes one behind the the other and that the MRE only measures ore in some of them. So I'm hoping to be pleasantly surprised.






The future drilling statement above also indicates that the MRE includes spitfire resources which don't get a mention in the MRE document. They also are clearly not included in the stage one mine plan in the plan view slide below but seem to be included in the sectional view.