"spoke and wheel" or hub and spoke model as suggested by...

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CopperHound

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27/03/19

22:18

Post #: 37906948
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Originally posted by Tmax: ↑

Hi all,

A little bit of lunchtime home work turned up the following on our new exploration target. Seems it might be an under explored area for precious and/or base metals. Any recent exploration appears to revolve around the search for the presence of uranium in the area.

The Daly River copper mine (late 1800's) existed on these tenements or very close to it. The mine appeared to be more famous and known for things other than copper. A quick google search will fill in the blanks there.

BHP sunk one drill back in 1984, results of which proved hard to find in my half hour lunch break. Possibly on the search for copper or maybe searching for uranium maybe? The now long closed Rum Jungle mine is located approx 50km north of these tenements on the same fault zone.

Skip forward to 2010's and it appears holes were sunk in the search for uranium. I think Territory uranium company (asx:tuc) held exploration rights at some stage. No mention of precious or base metals can be found while searching their announcements.
They moved on and became 'spectrum metals' or the like.

A local drilling company has the rights currently.
Have held for the past few years.
They have submitted drilling plans and may have sunk drills and gone as far as lining with pvc.

Makes me wonder if the same drilling company have been busy drilling Pnx's other tenements in the last couple of years and over the smoko table something was mentioned about what they have been finding on their tenements at Kilfoyle/Litchfield to spark rather quick interest from Pnx?

Kilfoyle lies approx 80km to the west from Fountain head.
Fountain head is currently the preferred site of a local processing plant. If one was to draw a circle on a map and Fountain head was the centre, how far away can you transport rom material for processing and be viable?

Could a potential "spoke and wheel" style of mining operation with a central processing plant and various sources of ore within 100km be a viable operation?

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"spoke and wheel" or hub and spoke model as suggested by management prior to the Fox, during the copper exploration days..... same story!

PNX Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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"spoke and wheel" or hub and spoke model as suggested by...

Top Stories

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Vulcan appoints investment bank and M&A veteran to board

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Utah authorities sign off on Anson's lithium extraction plans at Green River

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

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