OK, going backwards to do a bit of work trying to find out what to expect from past announcements. The following is the trail backwards looking at where the EM conductor was identified and what's around it...
On the 7th April we had this in the announcement ...
"MAD199 is currently being drilled to test the new 19,320 Siemens conductor identified from the DHEM
survey in MAD195. The diamond drill rig is operating with two crews, allowing for drilling 24/7.
Drilling of MAD199 is at 64.2m downhole with the EM plate predicted to be intersected at 350m downhole."
Back on 8th March there was this ....
"MAD195 is targeting the 33,100 Siemens conductor identified from the DHEM survey in MAD185. A second crew for this rig is expected at site later this week, which will allow for drilling 24/7."
On the 9/9/20 we had this ....
"MAD185 was drilled to a downhole depth of 361.2m to test an off-hole conductor identified from the DHEM survey in MAD179"
2/7/20 This ....
" MAD179 was completed to a downhole depth of 351.9m and intersected a xenolithic mafic intrusive between 300-311m. These intrusive rocks are interpreted to be the target horizon of the EM anomaly. The remainder of the hole was predominantly granite and no nickel-copper sulphides were observed."
MAD179 East 230928 North 6806709 RL 418 Depth 351.9 Azimuth 180 Dip-70
MAD185 East 230930 North 6806710 RL 418 Depth 361.2 Azimuth 154 Dip -72
MAD195 East 230966 North 6806783 RL 420 Depth 370 Azimuth 176 Dip -68
MAD199 East 230966 North 6806788 RL 416 Depth n/a Azimuth 165 Dip -66
Of interest Hole MAD199 is drilling a conductor with a length of 12 metres, a depth of 45 metres and a conductivity thickness of 19,320 Siemens. (from announcement 7/4/21 pg 5). This is certainly not the highest Siemens conductor drilled and would tend to indicate only a 'modest' depth of sulphides/massive sulphides.
Just a reminder of something related to the Siemens conductivity thickness readings of 19,320, for hole MAD199.... This was from hole MAD157 and I posted about this a couple of months ago ...
"Over a year ago we hit a 89,000 Siemens target, MAD157, but only had 1 metre of massive sulphides, great photos of the core of that hole in a splashy announcement (23/9/19/). The results for MAD157, buried on pg 11 of the Dec 19 quarterly (31/1/20), 4.95m @ 1.58% Ni and 0.75% Cu, including 1.03m of MS @ 6.4% Ni and 3.22% Cu."
Current hole has a Siemens reading of less than 1/4 of hole MAD157, that was a good but not spectacular intersection of Nickel/Copper, especially for a 'pod' isolated from other 'pods'.
Just for analytical purposes, assuming the Ni/Cu hit was as good as MAD157 with ~5 metres of 1.58% Ni, multiplied by the length and depth given 12m X 45m, would give the following volume of Nickel..
5m X 12m X 45m X 3.4 (~ density of rock) X 1.58% = 145 tons of Nickel. That's assuming it's as good as a Siemens reading hole of 89,000...
The real hope here is that this 'significant' hit is just leading on to further deeper mineralization and further DHEM finds some large EM conductors.
On analysis, this TH and 'significant' drilling results is looking like a marketing exercise for the upcoming cap raise IMHO.
Let's see how the results line up with hole MAD157, the real hope for a significant boost to SP is that the Siemens numbers are meaningless and there is a thick intersection of high grade mineralization.
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