Yes, IGO watching.I wonder if the additional 19% will be...

First 12 Last

Share
Profile

Follow
mart62

149 Posts.

50

25/08/23

13:46

Post #: 69550447
Share

Originally posted by setfire2thehive: ↑

spot on and is also my interpretation.

I guess what will be insightful is some of the results from the lower section of hole one which they interpret to be the start of the mineralisation.

Hopefully there is an update on hole 2 which given they haven't made any comments yet would seem to indicate it's still going. target depth is 1100m.

So if they're hitting decent grades from base of hole 1 (which intersected roughly 80m's to base of hole at 610m, and hole 2 is still being drilled then the depth of that hole will potentially indicate that they're still getting positive results all the way down.

it should be noted again, that this porphyry is shallower than BHP's ocelot and similar in grade.

Extending the resource by proving thickness greater than what the 1970's drill results suggested, means that the estimated mre of 380mT Cu resource may upgrade significantly. if those thickness even come close to rivalling thicknesses of BHP's ocelot project we are talking an extremely large scale tier 1 copper project. If that's their best cu exploration project, and this is similar or better what does that say for our 20m EV based on this alone.

very excited. IGO will be watching with earnest as well I garner.

SF2TH

Expand

Yes, IGO watching.
I wonder if the additional 19% will be triggered, as per below.

Under this Agreement, IGO has an exclusive right to earn a 51% interest in the Copper Wolf
tenements by sole funding expenditure totalling $350,000 within 2 years (Stage 1 earn-in). Upon
IGO incurring the $350,000 earn-in expenditure, it may elect to earn-in and form an
unincorporated joint venture with the interests being IGO 51% and Buxton 49%.
IGO may elect to earn-in to a further 19% by sole funding $5,000,000 within a further 3 year
period (Stage 2 earn-in).

BUX Price at posting: 13.0¢ Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

Reply