Other than some cloud wisps, there was a clear satellite view on the 2nd August satellite pass. With no obvious new drill holes or drill sites having been prepared it looks as if TG6 has completed this immediate phase of drilling. This unfortunately still leaves both primary options open:
TG6 has hit multiple areas of mineralised peg's and is considering where and in what way is best to attack what is becoming a large deposit
TG6 has hit multiple dusters and is considering where to target next
Results taking longer than earlier expectations remains consistent with both poor early results being delayed. It also remains consistent having hit a very high grade zone and experiencing reporting delays from retesting high grade assay results before releasing them. This would stuff up TG6's timelines, but they wouldn't be overly concerned because TG6 knows they have good results coming.
IMO if there are multiple mineralised areas and seismic is working well, the next phase may not even be drilling, it may be rolling out a larger scale 3D seismic on the wider Burmeister / Jaegermeister area looking to identify primary target areas with thicker pegmatites &/or nearer surface targets.
For what its worth, the drilling for a Burmeister JORC does not appear complete, more Burmeister drilling remains (to even inferred).
The picture below takes the area of the exploration target between RCD24 / RC30+RCD33 / RC46 at the top and RC14+18 / RC6 / RC7 at the bottom (with RCD29, 09,10,11+32, 31 in the middle). The green circles are clear satellite drill holes from the current phase. The grey circles are drill sites that are unclear if they have been drilled. The blue's are drill sites I'd have expected if doing a 100m inferred infill pattern and looking to confirm the southern portion of the exploration target. There are a dozen holes I would expected that have not yet been drilled. The whole string between RC06-08 and RC09-RC31 is yet to be drilled and by implication some of these should be high grade near surface intercepts. The blue arrows point out RCD32 (10.5m @ 1.6% from 87.2m) and RC6 (9m @ 1.77% from 30m). If the straight line point between these was a similar width and grade it might be something like 10m @ 1.7% from 60m and indicative of strong economics in that area.
That TG6 hasn't yet drilled this hole (and others) indicates they have a wider plan. Three obvious candidates are:
TG6 want more DD core for Met testing purposes so one or more of these holes may be DD, possibly with a wider hole size like PQ.
TG6 may have a PoW approval in to drill this area to a tighter measured/indicated density and are waiting for that approval to start drilling. Because many of the holes to drill it out are sub-100m its among the cheapest areas to take to Measured/Indicated. Using the fusion assay's the 1.3%+ holes include RC6 (1.77%), RC14 (1.45%), RC18 (1.52%), RCD9 (1.74%), RC10 (1.36%), RC11 (1.80%), RDC32 (1.60%), RC31 (1.56%). Taking this area up to measured or indicated could result in a ~1.5% indicated JORC which would be among the highest measured/indicated JORC's in Australia.
TG6 now has reason to drill deeper and is waiting to present that reason before drilling deeper. The eastern side has been tested deeper as a duster. RC29 hit 3 pegmatites but each was at that point thin.
Spun around 180 degrees.
Note, while RC07 to the east of RC06 was initially reported as 6m @ 0.79% from 26m, this significantly understated the eastern side potential. When redone with the more reliable fusion method the assay for the partly weathered area improved to 6m @ 0.97%. Including very weathered, the pegmatite was 13m wide (20 to 33m) with no reason to suspect that before weathering the grades weren't similar to those to the west. There could well be a spot 50-80m to the north were there's a 13+m pegmatite not subject to weathering that is only 30m from the surface.
TG6 Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
(20min delay)