stumbled across this stock after hearing about this hole. when you see a hit like this it inherently sparks interest.
been doing quite a big of digging about the work undertaken to date on assessing sulphide potential.
several years ago, they decided to test conductors north of the resource, they drilled a few holes and did not find mineralisation and decided that no further work was necessary:
back then they also drilled 3 DD holes into the resource to a max depth of 92 metres only:
so in summary, the guys back then decided to drill test north of the resource at a decent depth just because they saw some shiny conductors, and they did not drill under the current resource at depth. this is why the new team is excited given the potential for sulphide mineralisation below the resource at depth. as per the video they are currently re-assaying these new DD cores for sulphide evidence so will be interesting to see the results.
for context Chalice actually did a similar thing north of gonneville, instead of following the down-dip of the resource into the forest they started drilling random conductors north and didn't hit any significant mineralisation. so these things can happen even for the best explorers.
so we will see what they can find under the resource, this hole plus the magnetic signature definitely makes a strong argument for deeper drill testing.
i'm really in this for the sulphide potential but in terms of the laterite, interested to note that a low-grade laterite producer listed in Indonesia couple months ago $673m raised on the IPO.
https://www.mining.com/web/mining-giant-makes-debut-in-indonesias-biggest-ipo-this-year/they process their low-grade nickel ore into battery grade material using HPAL.
then we see Mr Rajiv Ramnarayan from Equentia Natural Resources Pte. Ltd taking a stake here, company known for its Indonesian Thermal coal activity but perhaps are diversifying more into the battery minerals space.
