Hi wolverine,
It is not opinion and it is based on both maths and mining experience. The "moving Forward' ASX release shows an increase in grade of 1.37% Cu to 1.54%Cu resource model to grade control. This represents 1.54/1.37 = 12.4% increase alone. Secondly the grade control drilling uses the RAB technique where a pnuematically driven cutting head cuts through the rock and uses blasts of air to force the
ground borehole material out past the cutter head buttons. This technique has an impared ability to move native copper past the buttons (difficult to grind down the metal and mechanically move it past the cutter head).
Further, it is relying on a blast of air to "blow out the hole" (think drilling a hole in concrete and blowing out the dust). The problem is it is trying to blow out native copper particles/nuggets with a s.g of 8.9 as opposed to other 'ore' rocks of s.g 2.5- 3.5 which results in native copper belonging to the hole being left in the bottom of the hole. What comes out of the hole is collected and assayed for metals content. So the grades reported for the stockpiles are under reporting copper content where native copper is present. How much under reporting? Well that is the million dollar question but (see release 29th April 2014) a
1000 tonne sample of <0.5% resource model grade ore assayed around 2.5%. Note this is almost certainly not indicative of the whole native copper deposit BUT IT WILL INCREASE IN GRADE significantly. What is significant - I'm as eager to find out as anyone.
There is real upside to be reported in head grades.
Regards, Timboz
CDU Price at posting:
$1.24 Sentiment: Hold Disclosure: Held