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Ann: Heritage Survey Complete Ahead of Maiden Drill Program, page-86

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24/08/22

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Post #: 63291550
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Originally posted by UFX: ↑

Hi Wibles,

The announced drilling is average 75m deep RC drilling to 5000m total so about 66 holes. The end result is rock chips and powder. This type of drilling is following the type of drilling HAS has done for much of the resource. The good about this is that it is cheaper and faster compared to diamond and LNR will get to test many targets to get the best bang for the buck.

The bad compared to diamond is that geometry somewhat and the petrology gets shafted of the potential deposits. Diamond produces core which can be logged accurately. The rock types get analysed very well as well as contacts and their relationships. The assays are the same most of the time with both diamond and RC.

To be honest I'd probably be happy with the option they have taken with a maiden drilling. They may organise a special directors hole, an orchestrated sweet spot, to begin the campaign, something that happened with FNT at Andewa.

75m being the average doesn't mean they will not go deeper into test a couple of the geophysical anomalies. RC drills definitely can go deep enough, but I'd think they will want to test the maximum amount of strike length with as many intercepts as possible of the strike lengths. It will be interesting to see what the outcome is.

Expand

Hey @UFX, yep agree. Drill like buggery, get the overall picture then go diamond as you say. They surely understand the underlying geology with all that drilling by HAS and DRE.

What's the turnaround for assays - have backlogs been cleared or is it still a bunfight? We are looking at Nov assays if labs still under the pumps I guess.

Cheers

LNR Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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