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Brookes/Nifty Exploration Drill Target, page-3

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Onceover

2,380 Posts.

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24/07/19

15:37

Post #: 39672399
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Originally posted by Onceover: ↑

Company stated during the conference call that drilling has started on the Brookes exploration Drilling Target. This is an 800m hole into a potential down plunge repetition of the Nifty orebody.

They already have mineralisation this far down plunge (10m at 1.12% Cu - see Page 11 of Quarterly), but structural reinterpretation suggests that this intersection is offset from the main LINE OF orebody at this point. The target zone is a repeat of the structural flexure that hosts the main Nifty orebody.
A decent ore grade/width intersection in this hole would be a major win. It would suggest a repeat of the known orebody, almost a kilometre to the east of present development, down a shallow plunge and therefore at accessible depth. Similar depth to the deeper intersections at Winu, but the Nifty mineralisation has higher grade and established mine infrastructure.
And of course the best place to look for a new orebody is right next to an existing mine.
The exploration potential is not to be sniffed at.

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Couple of typos but too late to edit. Ignore the caps.

MLX Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
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