-further intersections have proved higher in phosphorus than initial assay (CA011) from Feb. Thus probably limiting the ability of carina ore to be blended with Bungalbin etc.
-widths intersections are less than CA011, and generally deeper in nature.
-also, it appears the results will not allow an initial resource statement that POL had originally stated, further infill is required, however this will bring it up to the higher level "Indicated classification".
Few positives:
-good intersection on CA004 and CA006, combined with CA0011 & CA0012, suggest good continuity between these holes.
-very little of the total minerilisation strike has been drilled, with the main focus of december drilling being on a transect (CA001-CA005) that appears was specifically designed to test depth extension.
-drilling was abandoned after reaching fault at mineralisation contact on several holes, these holes appear to be those that were targetting the deepest mineralisation extensions (suggests mineralisation extends deeper, just couldn't get the drill into it)
-management are bouyant about carina and appear to be very keen to get infill drilling completed, resource upgraded to Jorc Indicated classification and fast track to production!
I expect the news to start flowing more frequently now, starting with portman agreement details, and drill results from Chameleon, J4 extension, Musca, Vela and an update on Poondano in the pilbara.
cheers.
POL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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