Ann: Sulphide Mineralising System Extended at Phils Hill, page-49

General
At this stage I am less inclined to believe they have found anything of a commercial nature, but obviously further drilling may change this view. A lot of the results are skinny and not much reported mineralisation, so wouldn't get overly excited at this stage is my point.

They think they have the mineralisation (i.e. the stringers are an aspect of this and probably the view they may have two differing mineralisation aspects here looks theoretically feasible), but the key issue is where is the core (i.e. the base system/s from which these stringers come from). If those are on the tenement and not too deep then it will be very good here, but at this stage it is a high risk/reward proposition here IMO - second sentence in this paragraph in the Ann the key needle in a drilling haystack comment and why they may continue with drilling.


Invest only what you are willing to lose is my point.

Specific
I don't think they still know what they have, but too me it is not a Julimar signature. The key in the Ann is this comment, where they discuss what they think they have from these limited drill results, and looking at the tables themselves:


Polymetalic system refer this post of mine - This post in STM I did a while ago explains in part what a polymetalic system is and the importance of the silver hit in theorising why you might have this system - Post #:49281908 A possibility too me but further drilling to confirm, and probably possibly deeper drilling required as well.

Sulphide - As per this post - Post #:55853493 - they are again essentially emphasising the term sulphide in this Ann again, which is what I posted about in the last Ann when they talked suphide specifically. Most likely explanation IMO

Interesting whether they provide more data as to whether the sulphides had pyrite andpyrrhotite. This article explains why these two rock forms in sulphides are important :https://www.sciencedirect.com/topics/medicine-and-dentistry/sulfide-minerals

Finding copper and nickel is ok btw as EVs need 3 times more copper than ICE and btw NCM and NCA batteries (i.e. your lithium ion batteries) have a hell of a lot of nickel in them. This is before we talk what else nickel and copper is used for.

But to be clear the hits to date are skinny, meaning not much mineralisation but ok hits when hit.

PGEs - Point 3 this post Post #:55466073 and this post Post #:52126976 Whilst their might be PGEs here I think the data is showing too me it is less likely a Julimar signature itself. They are probably hanging their hat here in part on some of the high Cr (chromite) results in some holes, but the results are not consistent hence my comment. Too me simply means there is chromite in the area.

VMS systems - The table at the back of the Ann shows they have hit a few base metals, zinc and other things and hence why they open a VMS system option (albeit too me the data isn't that strong). This article below, for those interested, provides a good insight into how VMS systems are formed and their economic importance. The article itself is an interesting read itself. Whether this event here has led to a VMS system with an economic deposit is only question for the drill bit at the end of the day, hence the risks with exploration plays.
https://www.911metallurgist.com/blog/vms-volcanogenic-massive-sulphide-deposits-ore-mineralizationAnyway the results are mixed, they are ok and more drilling is required.

In other words results are a mixed bag, not particularly great IMO but time and the drill bit will decide.

All IMO IMO IMO