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Ann: West Arunta Project - P2 Drilling Update, page-19

  1. 2ic
    5,784 Posts.
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    "Clearly made another discovery here otherwise the wouldn't have made the release." is it really? Update seems more damned by faint praise imo, although of course insiders know results from the handXRF and we don't. I admit the price action dropping $1 over the week probably colours my opinion (quite the opposite reaction to ENR).

    https://hotcopper.com.au/data/attachments/5474/5474497-91d48bc54e351199be5f2673fbfc864a.jpg
    No mention of weathering profile being all in carbonates, which is critical to generation thick, high grade supergene.
    PAR003 had 61m of sediment cover in weathering zone.
    PAR003 had "moderate weathering with lower saprolite boundary at 74m", where luni is much deeper
    PAR006 finished much shallower than PAR003 and the others. Indicates possible transition from carb back into sediments like ENT found along Elephant Fault drilling?

    Just my interp for consideration... call it down ramping for all I care.

    GLTAH
 
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