Sapralite grades improving and also seam size. Pit size including the first 2 results is around 600m by 200m for a sapralite quantum of 1.2mt @ 1.8% blended with albeit 3 area's in the pit design to have uniformity issues at this early stage.
Good to see an improvement in grade and seam size with the overall seam size of 4m med- premium. As management have used the services of paid presenters delivering a schedule of a JORC later this month I'd expect management to be pumping out some assay results starting this week or they run the risk of missing another benchmark.
Looking to see a medium to premium DSO quantum of around 6-8mt @ 1.8% and average grades above 1.3% for market viability with a low Strip Ratio (SR) in this drilling program. Viability at Kolosori is above average as the SR is extremely low due to better uniformity and ease of overburden removal (most of the deposit being at surface). These next set of assays to come, when comparing one to the other, need to show thicker seams, not deposits, in the Sapralite zone with uniformity through each results. Deposits are harder to clean all overburden, seams are a "piece of piss". Good solid hits showing 12m seams @ 2% Ni will definitely negate the above.
Expecting news this week. Management need to adhere to the schedule ANN or we will see single figures again.
cheers and GL in 2017.
AVQ Price at posting:
15.5¢ Sentiment: None Disclosure: Held
