This was a very technical release but when you read you see some important releases when combined with the other releases this week by ESR and the close by Poseidon.
Firstly the size of the size of the Carr Boyd complex and tenement - 3 Mining Licenses and 6 ExplorationLicenses cover entire 75km2 mafic andultramafic igneous complex with multiplenickel and copper sulphide occurrences–most significant being the Carr BoydRocks Nickel Mine and the T5 Discovery, especially the basil contact and the reference in to the size (blue little picture) of Nova Bollinger. I reckon this meant they have a huge amount to investigate and this is nickel, when its there its there, so they just need to find it.
Secondly, the say ten 10 RC holes intersecting sulphides between T5 and the Carr Boyd Rocks Mine with assays
pending, this I think means they drilled rc to say 200 meters as a pre collar expecting nothing but they found sulphides to enough extent they are goign to spend the money on assays, is nickel right across this area, thats what Phase four is trying to prove, RC looks promising.
Thirdly, tie this in with a release by Poseidon who is close by and they are fully expecting to receive and provide a pathway to market, you don't send a release out saying "Under the OTCPAs, SulphideX and Estrella will mine the nickel ore, and Poseidon will toll-treat the ore producing a nickel concentrate, which would be purchased as concentrate from SulphideX and Estrella at agreed pricing arrangements, with the sales and marketing of the concentrate to be managed exclusively by Poseidon" and not expect to be able to do it, so this company thinks ESR is on track. As background - "Poseidon owns the Black Swan operations located 55km from Kalgoorlie, including the Silver Swan mine, Black Swan open-pit nickel mine and a 2.2Mtpa concentrator.SulphideX's Mt Venn project is located within trucking distance from the Black Swan operations, while Estrella owns the historical Carr Boyd nickel project, 38km north of Black Swan.Poseidon will work with both Sulphide X and Estrella to evaluate toll-treating nickel ore mined from their projects under ore tolling and concentrate purchasing agreements (OTCPA), providing a pathway to market for both companies and a lower processing cost option than construction of their own concentrator facilities. "Mining Magazine - Poseidon to toll-treat ore from two local nickel explorers"
Anyway, just pulled this together as had some time, but I think this is looking to be going okay, agree some massive sulphides is what the market actually wants, but when you add all of this together it is a story that's unfolding
Expand
(20min delay)