Hello all,
Apologies once again for a tardy contribution to this thread and for missing the last announcement thread completely – has been a busy week for me to make time to jot my thoughts.
Having read comments on this thread to date I think that most people can see that yesterday’s announcement is a particularly strong one and geez it is great to see! Obviously having vein 9 thicken substantially is very positive, as is the identification of two previously unknown veins. Whether these are independent veins or bifurcations of vein 10 isn’t known yet but at this stage that detail is of lessor importance for us to know. Looking at the cross section I suspect one could be related and one is likely independent. Either way, it’s just pleasing to see additional, larger, mineralised structures being discovered in the near surface and the known veins continuing to depth.
I think it was Thunder who posted the cross section on an earlier thread correctly suggesting that, at the time, the near surface mantos and veins could represent a possible minable resource but the subsurface mineralisation might not represent an economical resource. I think initial results from hole 2 for vein 9 and 10 begin to suggest the ridge of Humaspunco might also host an minable resource which is a strong result for early in this drill campaign. The closed-spaced occurrence of mineralised structures in this area is pleasing, as are the increasing degree of brecciation and the occurrence of massive/semi-massive high grade zones with associated lower grade material. The observation that disseminated sulfides are occurring in addition to veins and veinlets is very positive; along with increased brecciation, this suggests to me that pressure in the mineralising event was increasing and that enriched fluids have penetrated furthering into the host rock rather than being restricted to planes of weakness to form veins/mantos. Noted pyrite content agrees with this as the system becomes hotter and higher pressure at depth – perhaps Cu and Au content might also start ticking up as the drill bit gets deeper. These are the types of results for the veins I was investing in ICG for.
However, I do register one warning flag in the results to date and that is the absence of additional mantos. I was certainly expecting to see more of these mineralised structures but as yet they have not been noted. Either they are not there, have not been identified (i.e. too small and passed over, confused with veins, etc), or they are noted in the logging but not announced. I would be very surprised if the first option is the case given the prevalence of mineralised structures at Humaspunco, and likewise I would be surprised they might be missed by the logging team who seem to be doing a pretty detailed job. Hopefully they are occurring on a small scale and shall be evident when assays are received but that at the moment their character is difficult for Ross to report accurately on. I might be dreaming on that but it’s the assays that will provide the ultimate answer.
Overall though, yesterday’s announcement was very heartening to see and the photos look great and juicy. Fingers crossed the remainder of hole 2 produces results just as good or even better. Who knows what’s below???
GLTA,
Bornite
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