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Ann: Mt Thirsty Geological Review, page-38

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WhatsupwithBas

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01/06/22

10:47

Post #: 61746611
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Originally posted by VascoBlack: ↑

Dear All - I have posted some things along with MarkyBoy, T1 et al.... on the CNJ thread "Gal impact on Mt Thirsty" - probably worth a read for GSR holders as there is pretty convincing evidence that Calisto does continue onto the CNJ-GSR MT ground. Last post below.

I Have had a good trawl through the old announcements: A couple of other things to add. Most of them +ve and assure us that we have strike continuation onto CNJ+GSR MT ground.

All of the 1st 3 points refer to the area immediately to the south of and on-strike from GALs discovery hole

1) 29-Oct 2008 results of rock chip sampling of gossans located on the eastern side of the MT Ni-Co Lateterite resource were released. Best result was 0.6% Ni 0.73g/t Pd. lowest 0.22%Ni 0.03ppmPd (Copper v low in all samples <200ppm- but expected due to surface leaching). Not sure what the Gossans signify a fault displacement of Calisto upwards or quite possibly a hanging wall zone (roof zone) at the top of the UM sill with Calisto being the footwall zone of UM3 (as per your section). Gossan Sample locations are shown in the IP map below as the MTROCK red dots.

2) A surface SQUID fixed loope IP survey was conducted; there after results released 9 June 2009. This shows a very clear conductor extending south from GALs discovery holes. Purple dots are MT laterite resource holes and TEMhole 2 became MTDD08 which your section shows. Later work interpreted the chargeability anomaly as due to sulphidised graphitic sediments in the footwall of UM3 - apparent host unit to Calisto. So the EM while demonstrating continuation of stratigraphy is ambivalent about it indicating continuation of mineralisation. However, drilling does indicate a continuation.

3) A couple of drill holes were drilled into this EM Target (see below) - MTDD008, MTDD025 & 026 & MTRC017. Results from the calisto zone in MTDD008 were 9.45m @ 0.3% Ni from 280m and the zone below Calisto (inferred hanging wall contact of UM3) 6m@ 0.24% Ni from 351m. The Ni zone at 280m was 16m thick but only showed Ni over 9.45m. Nowhere are Cu or PGM assays mentioned so given depth and perceived low grade Ni these samples were likely not assayed for the same. MTDD 8 as seen in below X-Sectuion also intersected several other low grade zones within UM1

MTDD25 was abandoned due to drill problems and did not reach target zone.

MTDD 26 intersected 28m of sulphides from 274m; No results for this hole were ever reported. I assume they were more of the same ~0.15-0.30% Ni and not further assayed for PGMs. Given Gals holes are about 400m north of MTDD 26 and intersected mineralisation at ~ 140m there is a clear apparent southern dip to mineralisation. (True dip is probably to the SE) which implies a NE-SW strike of Calisto which is in accord with the GAL Banana shaped Mag anomaly.

MTDD008 reached ~1,100m but did not reach basal / footwall contact of UM1 sill. It was extended later. At 760m it hit a small stringer/xenolith of 1.2%Ni, 0.6% Cu 0.15% Co caught up in a late dyke which was interpreted to be mineralisation from the UM1 sill footwall brought up by the dyke.

MTRC017 - results never released no idea if it reached target depth or what

4) A DHEM survey of MTDD008 was conducted and a conductor was located near the bottom of the hole but there was too much interference from the overlying sulphidic sediments at the Calisto level to determine an accurate location for the conductor.

5) MTD010 & 11 were designed to test up dip footwall contact of UM1 -Not the possible calisto PGM zone. MTDD10 hit pegmatite at ~ 300m and was abandoned @ 429m in pegmatite and never tested the UM1 footwall contact. MTDD011 hit the footwall contact @ 478m which had a 10m 5-7% sulphide zone but NO Ni.

6) MTDD008 was taken deeper in March 2010 quarter to 1,441m - Hole continued in cumulate UM1 sill. It encountered steeply dipping sediments at ~1,331m similar to sediments in the Calisto zone. Footwall contact with Basalts was not intersected - no mineralisation reported.

7) Later RC drilling to the West MTRC014-016 are part of a cluster of holes that hit some decent mineralisation which was cut off at depth by flat lying pegmatite- It is possibly the footwall contact zone of UM1

8) Given locations of MTR015 6m @ 3.4% (footwall UM1), MTDD008 + Gals discovery holes one gets the feel of a strong SW-NE strike to all layers of mineralisation in 3 ultramafic sills. This corresponds well with mag grain visble.

So quick take - * We have a couple of historic holes MTDD 008, 026, which definitely intersected the Calisto zone and possibly MTD011, 10, 9 in oxides (if calisto is flat) and MTRC017? All need to be re-assayed for PGMs. Can anyone call CNJ/GSR and ask about that?

We have pretty much what looks like Calisto extending for at least ~800m south into GSR-CNJ tenements based on drilling + IP dipping to the SE striking NE

We have prospective other zones at depth best being along strike from the MTRC015 cluster of footwall hits.

We have some very thick flat lying pegmatites at depth - Are they the right type- do they have Li ?

Biggest risk will be grade continuity of mineralisation.

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I just read that MB thinks the historical samples are stored in a warehouse. If correct they will likely run the pXRF over them before sending for assaying. That could bring some short term news flow out of the blue.

GSR Price at posting: 5.4¢ Sentiment: Buy Disclosure: Held
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