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Ann: Pepper continues to grow - 25.24m @ 16.66g/t, page-38

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calmbeforestorm

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04/06/24

22:06

Post #: 74164792
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Originally posted by triage: ↑

B4 - I think Simon Lawson and his geos had moved away from the idea that there could be a single continuous underground structure, with Never Never, Pepper and Four Pillars merging at depth. In the ASX announcement of 16 April - which I think is where you got the bottom schematic from - he used the simile of the deposits at Dalgaranga being like a sheet of corrugated iron with a series of ribbing of low grade ore separating parallel channels of high grade material (see SL's comments at the top of page 3 of the ASX announcement of 16 April).

Even in the 4 June ASX announcement SL referred to one of the low grade assay results reported in the announcement as sitting between Never Never and Pepper and as marking the edge of the mineralisation. For the time being at least I think they are still using the corrugated sheeting idea to describe what they have at Dalgaranga.

At the time when they were toying with there being a single super structure SL had suggested there could be "exponential" growth and "accelerating" growth but for now I guess we will have to be resigned to having "only" geometric growth (which still leaves us with one of the most promising gold operations in WA).

Just on the cost of deep diamond drilling, Western Mines Group has drilled several deep diamond holes recently, down to around 1.7 km - with the WA Government going halves. They are in search of a monster nickel discovery and are out in the desert about 2 hours east of Kalgoorlie. The boss bloke said recently that each of the holes had cost around half a million dollars. He said when they drilled the first hole the cost was about 10% of the company's market cap. That pretty much aligns with what you reported from ALK of up to $300k for a km of diamond drilling. I can sort of understand why WMG is going so far out on a limb with these deep drills - sort of make or break for them - but I can think of no justifiable reason for Spartan to go throwing hail mary's with super deep dd holes as they know that with what they already have they have a viable mining operation. We should not be paying for a swinging dick contest with the Bellevue crew, chasing after resources that will not be needed for at least another ten years or more.

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you are correct!

SPR Price at posting: 76.0¢ Sentiment: Buy Disclosure: Held
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Ann: Pepper continues to grow - 25.24m @ 16.66g/t, page-38

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Ann: Pepper continues to grow - 25.24m @ 16.66g/t, page-38

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