Dante Reefs Desktop Study

Between defending my posts with the bulls and constant moderations think it's best I cut to the chase and put up my analysis on Dante Reefs for any who are interested... which are probably very few. That's fine, if I wanted mass attention wouldn't be hanging around a barely followed penny stock.

Without going over too much old ground, let's zoom into the Dante Reefs geology as predicted and current drilling proved. The reefs are the upper part of a cumulate layered mafic intrusion (LMI), where early silicate mineral crystallisation concentrated magma into magnetite-ilmenite rich (+/- Cu, PGE, Au etc) layers over very large areas in a very large intrusion. Previous research papers go into a lot of detail comparing Jamesons Reefs (now Dante) with other global LMI's, though we can keep it simple for economic analysis.

Australian examples of Dante Style 'Basal Reefs' (often thickest, and/or highest Fe-TiO2 grade) with multiple lower grade Fe-TiO2 hanging wall reefs (ie above basal reef) include the Barrambie LIM hosted massive magnetite deposit. The thickness, reef dip, grade etc all matter, but for now




Dante basal reef is defined by a 2-4m massive Fe-Ti-Ox layer with the highest Ti-Fe-Cu-PGE grades, which quickly drops in Fe-Ti-Ox content above. TM1 usually report grades for both the thin HG-basal reef, and thicker zone into the HW above. I tabled a thickness-weighted average of all holes in fresh rock for both the Crius and Hyperion reefs from TMI only assays to date, then back-calculated the grade of the HW material included above the HG basal reef in the thicker reported intervals. As you can see, take away the HG basal reef which averages ~4m true thickness, and the HW material is very low grade in Cu and PGE+... Fe-Ti-Ox% only drops by about 1/3 the basal reef into the HW, while Cu-PGE+ drops off by more than half.



Below is the Barrambie Titanium only MRE and mine Reserve by comparison for the TiO2 valuation, which is the most tricky.



AVL's MRE at **banintha, focussing on the V-Flake aspect (similar typical HG basal Unit and LG HW units in layered intrusive)