Peer comparison with CLQ's Ni-Co-Sc deposit has some validity,...

Peer comparison with CLQ's Ni-Co-Sc deposit has some validity, albeit G88's deposit as defined so far is not as large in tonnage terms and has a lower tenor in Co and Sc than CLQ. Both seem derived from ultramafic weathering to form a mineralized supergene at the saprock/ bedrock interface. Todays CLQ's DFS announcement is therefore sobering in the light of the capex requirement for these lateritic/saprolitic type deposits, and the market took it badly. Actually no surprise I thought as these kinds of deposits are often hard to kickstart into a mining operation due the costs. However, if G88 can demonstrate it has a Direct Shipping Ore, ( dig it up, ship it out) then the equation is more favourable. The possibility of this was mentioned in an earlier announcement, a year or more ago I think, but not commented on since. Obviously as it turns out the CLQ deposit is not DSO and capex is required for a plant to beneficiate and extract the minerals.
Moreover and obviously, if G88 proves to have a massive nickel sulphide body within its lease then this dramatically changes the equation. The drilling surely would have to finished or nearly so by now. The 3 holes are not too deep. If the XRF had picked up a significant nickel show on the drill cuttings my gut tells me we would have heard something by now, if not a TH. If no announcement on progress by the end of this week, that would seem rather foreboding. A simple comment that drilling is complete and samples sent to lab with assays awaited, without any specific mention of Ni sulphide, would not go down to well I think with Mr Market
Regarding the JORC, I did a bit of number crunching over the weekend. Trawled back through the saprock drilling reports, over 100 holes done, from that a rough guide would be an average depth of mineralization of 20 metres, maybe a bit more, width of deposit about 25o metres on average and strikel ength over the drilled area about 3 kms. Mention has been made of 5kms but this extended length has not been in-filled drilled. So anyway, deposit size say 3000 x 250 x 20 = 15 million cubic metres, so about 35 million tonnes. Nickel I estimate at 0.6% average which is fairly good, similar to CLQ ( possibly a bit better than CLQ), although Co and Sc are somewhat lower. All hinges on DSO grade, and whether associated Ni sulphides in massive form are found.