Ann: Quarterly Activity and Cashflow - 31 December 2021, page-34

Quarterly pretty much as expected for me. A few snippets that seemed (weakly) worthy of further consideration are below.

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Drilling at Calibre extended the gold-copper mineralisation outside the southern limits of the existing 2.1Moz gold 104kt copper MRE, with intersections including:
• 10.6m at 2.12 g/t gold and 0.12% copper from 153.0m down hole in CALB0030, including 1.0m at 20.10 g/t gold and 0.83% copper from 152.0m etc....

Apart from the 1m @ 20.1 g/t Au the remaining 9.6m has a mathematical average of 0.25 g/t Au. Fairly common for deposits in the Paterson where local high grade is statistically relevant. Hole 34 has 1m of 12.3 g/t bulking up the intersection below the MRE.

[ps emoji was accidental but works]

That the holes mentioned in this section, 30 34 and 35 are "outside the southern limits" made me plot the December results schematically on Google Earth.
30 and 35 may be within the main area and/or outside at depth.
34 has some outside the southern limit aspects - see section.





Pending and remaining holes from the 2021 program:

Hole 41 is the most likely to add to the MRE if there is a decent hit or two.
The other holes 36 40 45 are marginal tests which will be great if they hit. Hole 37 (partial) may give some idea of what could happen with 36 and 40 along the western margin.
The tails of 35 and 37 have pending assays. 37 is going towards the main zone at depth while 35 is testing the eastern margin.

The 2022 proposals do not specifically mention more drilling at Calibre. Updating the geological model and possibly the MRE is noted.
Is there enough data available to create a mine plan without more drilling. IMO probably not unless there is enough for a starter pit at a relatively small scale. Implication that Calibre is being moved to the back burner?????

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Rimfire north:

Broad spaced drilling at Rimfire North intersected gold-copper mineralisation, including sulphide breccias, along a 1.5km interpreted domal structure, with intersections including

The previous model was more to do with intrusion related mineralisation. Not too certain about this though.

With these two highlighted comments there may be a new approach to the Sundance/Rimfire North area.

Where is the domal feature?



One common theme for successful exploration is the need for persistence. Knowing when to cut your "losses" an leave your work for the next "sucker" who may in fact get lucky from all the hard work already carried out. Havieron....and others though the duds are seldom mentioned, only the successes.

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Not from the quarterly but part of the reason for the week that was.
Inflation.

Teck are having to come up with another half billion to progress a massive porphyry phase two development. Just one example that happened to come up for me while preparing this post.

Expect to hear aspects of this for any project looking to be developed in the time of Covid and beyond. Great the price of copper (and gold) have gone up but they are probably part of the inflationary trends - perhaps. Above the pay grade of mere mortals but we can muse.

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Hopefully the next set of assays from Minyari will be positive. Though they may be 'wasted' in the current market where only spectacular results are rewarded for the moments in the sun.