I'm quite surprised by the lack of reaction trading yesterday or on hotcopper... copper stocks aren't getting the hype here at the moment and most probably only skim the reported intersections. But only 105 views, come on!!
Definitely worth spending more time going through this NR though with the text alongside the figures in a different window, it's very detailed and more akin to a quarterly report.
Stockwork hill: Hole 436 appears to confirm the high-grade mineralisation in the Southern lobe target seen in hole 419 (NR: 18 Sept 17), with the grade increasing at depth. DH436 ended in mineralisation and is open at depth - an important development from DH419 IMO which petered out and must have passed out beyond the mineralised halo. "Follow up drilling is currently underway west of these intercepts to expand this new zone and to test the hypothesis that Stockwork Hill and White Hill coalesce at depth." - results on that in March perhaps.
They also did themselves a bit of a disservice imo of reporting only the high grade extension in DH416: "KHDDH436 intersected 252.2m @ 0.34% Cu and 0.49g/t Au (0.65% eCu) from 632.2m" - a look at the full assay shows the hole also had 210m at 0.6CuEq% from 192-403m (incl 144m at 0.74CuEq% from 256m) and an additional 50m at 0.58CuEq% from 415m. That's a good hole!
Great to see them putting picture of the core up from holes ahead of assays too.
Some further quotes if anyone hasn't had time to read the NR:
"The existing mineralisation at White Hill is associated with narrow fingers of monzodiorite porphyry. It is believed that these fingers could coalesce into a larger intrusive at depth resulting in higher grades, as seen in the deeper portions of KHDDH430."
"A 150m step-back hole is currently being drilled behind KHDDH430 targeting a large scale magnetic and gravity inversion anomaly which is believed to outline the main mineralised magma chamber. KHDDH444 is currently drilling and is returning significant mineralisation below KHDDH430 (Figure 7 and 12)."
"The Kharmagtai copper-gold deposits are concentrated along a series of apophyses (small intrusions coming off the top of the main intrusion) on the top of a much larger body at depth."
XAM Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
