CHK HWDD05, page-8

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Flambeau

6,374 Posts.

2424

10/03/24

21:07

Post #: 72834242
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Originally posted by Linebacker11: ↑

... WMC may have nearly missed Olympic Dam by ~50m ...

... boundaries can be like a 'knife edge' and [again] quick read [I'm no hard-rock guy] that back in the 1970/80's when WMC drilling first discovered Oak Dam East, later geo's considered that Oak Dam East to possibly be the outer edge of a much larger complex to the west, even though maybe around x2 WMC holes had been drilled at Oak Dam West, it wasn't until the big BHP holes in 2018 that things got serious ...

... now BHP have hit big at Oak Dam West ~5km west from Oak Dam East and CHK have Blue Bush fault around ~7km west of Oak Dam west and now HWDD08 ... [discovery hole?]

... not easy or cheap considering ~1000m of cover and for smaller operators it has simply been less expensive to drill other places than take on these areas, but now companies are drilling and finds are being made, big finds ! ... the State Government may also be right behind the exploration.

... imo Lake Torrens may hold 'super-giant' potential ... will it take time - yes ... but all it may take is one big IOCG hit ...

... imo the CHK MD delivered a very good HW drilling campaign ...

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"for smaller operators it has simply been less expensive to drill other places than take on these areas" ...

Is that why they diversified into Canada? If they were so sure they were onto something, why waste money with a backup plan?

Was it because their thesis on based on gravity/magnetic failed with the HWDD06/HWDD06W1 drill?

The market may know (efficient market hypothesis).

CHK Price at posting: 0.3¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

1 Great analysis

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