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65.5¢ carnaby resources limited

agree with most, but 200m strike is absolutely fine subject to...

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aman2

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13/10/22

16:00

Post #: 64183570
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Originally posted by Maverick7: ↑

Your wish is my command but as the saying goes be careful what you wish for!

What's equally "phenomenal" about this announcement is that the directors make no mention in the body of the report that "true widths" of the headline holes are likely to be substantially less than the figures reported!

They state that the lode is "steeply dipping" so they are well aware of the general orientation and should at least mention the discrepancy like most other reputable companies. The angle of the headline hole shows that the true width is likely 20% to 50% of the reported numbers.

As for a commercial copper mine, you're getting way ahead of the facts/reality:
- Strong Oxidisation (difficult metallurgy) up to 150 depth, and "steeply dipping" (not ideal geometry due to excess waste) mean that an open-pit operation is highly unlikely, and will require high grades to justify an underground operation.
- Strike length currently quite limited at ~200m, well short of the tonnage to establish a stand-alone plant.

Hope this helps
Cheers

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agree with most, but 200m strike is absolutely fine subject to depth extent/grade

CNB Price at posting: 89.5¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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