Ann: Maronan Project Update, page-11

First 11 Last

Share
Profile

Follow
Trifke

401 Posts.

53

09/09/14

08:56

Post #: 13944090
Share

Originally posted by Deme ↑

Evening Trifke,

As difficult as it is to remain upbeat after watching your investment fall by 22% in a day, I am remaining positive. Here's why.

I don't try to second guess myself after such announcements. Some will sell out without any real understanding of the content. Each to his/her own. I prefer to contact the company and go directly to the source with my questions - as I did tonight. Rob was kind enough to get back to me within an hour, answered my questions thoroughly and has put my mind at ease.

The concept RDM are testing is the "potential for higher grade structural enrichment or bonanza zones at the apex to the northern HZ structure" as stated in their announcement on 07/07/14. The current hole MRN14001A was aimed at targeting the host horizons - the northern extremity of the mineral system. As discussed in the announcement, they overshot this position by approximately 50m.

Sarg, there won't be any assays, as they didn't intersect any ore stratigraphy. The reason they didn't intersect any mineralised ore is that they missed their apex target - they simply drilled in the wrong place. As such & as pointed out by Rob, their concept remains "untested, is alive and well".

Retired - their target hasn't shrunk. Rob confirmed this. The strike potential for ore is highlighted in the red area on the long section. On the northern side of the dyke, the potential is 250m-300m long and might extend down plunge to great depth - say 1000m (remains to be tested). Where intersected, MRN13002 has a cumulative width of about 20m. If you use a specific gravity of 3.4 for any ore - you will come up with a nice number (although based on very limited data at this stage). Again - the point is that many more holes are needed to validate this concept - but the math shows the potential for the north side (not to mention the potential south of the dyke as well).

So, Trifke - a positive from MRN14001A is the one pointed out by Sarg - a northern boundary has been set. MRN14002 will firm-up the size potential in the near surface environment. After this, further drill holes will be needed to see if the system zones towards the vent core at depth - where RDM hope to find mineralisation comparable to that mined at the core of the Cannington deposit.

Remaining positive.

Cheers,

Deme

Expand

cheers for the response Deme and Sarg!

nice to get a detailed explanation from Rob as well.

Trifke

RDM Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

MIN

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

There are more pages in this discussion • 4 more messages in this thread...

First 11 Last

Add RDM (ASX) to my watchlist

(20min delay)
Last 11.0¢		Change -0.005(4.35%)		Mkt cap ! $39.56M

Open	High	Low	Value	Volume
11.0¢	11.3¢	11.0¢	$56.72K	514.5K

Buyers (Bids)

No.	Vol.	Price($)
14	927247	11.0¢

Sellers (Offers)

Price($)	Vol.	No.
11.5¢	267860	5

View Market Depth

No.	Vol.	Price($)
14	927247	0.110
13	1647516	0.105
18	1260259	0.100
2	215000	0.099
2	20214	0.098

Price($)	Vol.	No.
0.115	267860	5
0.120	554191	6
0.125	1005383	2
0.130	309000	2
0.135	250370	4

Last trade - 16.10pm 04/11/2024 (20 minute delay)

RDM (ASX) Chart

Ann: Maronan Project Update, page-11

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Maronan Project Update, page-11

Top Stories

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News