https://hotcopper.com.au/attachments/mre-geol-on-luni-grav-mag-pn...

https://hotcopper.com.au/attachments/mre-geol-on-luni-grav-mag-png.6286573/?temp_hash=cbe0ae45085c444da8f7824698d22f3e

Initial announcement 26 10 2022

The above is the original gravity target at Luni. 3 holes in 2022 hit carbonatite with grades that were not as good as the recent ENR aircore. IMO the 2023 drilling at Crean was on par with the results of these first 3 holes at Luni. However, there were more holes drilled in 2023 that constrained the size potential at Crean especially in the west.

The geophysical target at Crean had a stronger magnetic component than Luni. The mag turned out to be mainly an ultramafic lithology (lamprophyre). with 3 separate intersections of carbonatite along some 3.5 Kms of apparent strike. Lengths of intersections increased from west to east (15m, c100m to c 500m). The thicker eastern zones potential width was reduced by subsequent RC holes (91-93) leaving a long strike length with width potential around the 1-200m range plus or minus any pinching and swelling carbonatite.

Luni had the high gravity target where grade and thickness needed to be confirmed as it was in 2023 - image of 30+Kms drilling collars below..

Hoschke to Crean may be a nice deposit if the intersections continue along strike to the east and west of holes 155, 256-7 and hole 8. Mineralisation is mainly in an up to 30+m sub horizontal blanket that needs significant strike and width extent to generate tonnes that need to be 1%+ Nb2O5.

So Crean is roughly as you say in the same position as Luni - without the benefit of hindsight in terms of intersections.

Size potential for Crean is probably more constrained by both geophysics and early ENR drill results. Could be around 2+Kms of strike length to be tested/assayed with a width of 100+-m potential so IF the zone is consistently thick and good grade Crean would be a good deposit. Lots of IFs

New discovery of potential size at Luni garnered share market support which has grown as the deposit was found to have answers for its IFS. The euphoria may be somewhat like Poseidon where the lion's share of SP increase went to POS but others rose (Tasminex ,Carr Boyd and ?others) but never to the same levels.

Exploration success by ENR will be needed to sustain and increase the SP. The batting rate for finding carbonatites in this neck of the West Arunta is proving very high. IF that continues ENR is likely to see a significant increase in SP IMO. Emily - high chance of success but smallish on ENR ground (?open to WA1 in the south).
Hurley possibly a teaser with lower grades at marginal mining depths.
Green a good wildcat target with trends from Luni in the SW hinted at by existing low grade (reported) carbonatite. Best chance of success for a large deposit based on existing information. Gravity more subtle than the adjacent Luni so likely to be a different beast to Luni if carbonatite related. Magnetics are not dissimilar.

Perce Mawson drilled. No idea what will be there. Hopefully not the weak technical success RNX drilled at Mongoose deeps in Cloncurry.

GLTAH. Lots of aircore holes will fill in some gaps of info on the near Luni targets. More to come hopefully finding some more goodies.


https://hotcopper.com.au/attachments/7-1-geol-w-annotated-dhs-png.6286549/?temp_hash=cbe0ae45085c444da8f7824698d22f3e