NML (ASX) Eclipse Prospect

Originally posted by MrMozambique: ↑

Just spend a few hours reading all the announcements since the prospectus in late 2011 through to now about the Eclipse Gold, Copper base Metal prospect.

Interesting that they were focused heavily on this project from 2012 through to August 2014 when I last read about any drill results. After this, the Eclipse prospect is not mentioned in any presentations until October 2019, almost 5 years from the last lot of drill results.

Shiny new toys in Tandarra, then Stawell, Irvine and Langi Logan showed up after that and Eclipse was completely forgotten about. ( clearly out farmed Stavely Arc to Stavely Minerals way too cheaply )

They commenced drilling DD holes into Eclipse in December to test the deeper IP anomalies which has the potential to bring up anything. They think the that gold/copper base metals feeder system sits under the supergene copper blanket and we could be sitting on a massive VMS deposit.

I'm all for huge ( hundreds of millions to billions of tonnes at lower grade deposit ( ie South American Copper deposits ) ) lower grade deposits because the majors love huge, long life mines.

I say sink a few 500m + holes into that sucker and see what comes up. I'd like to see 100-300m intervals of low grade gold and copper show up ( higher grades the better ). that would be huge for NML and certainly prick the ears of a few larger companies on the ASX and elsewhere for that matter.

The more time you put into researching NML's projects, the more compelling the investment seems to be. To that end I purchased more yesterday and plan to hold for the medium term to see what that 50,000m of drilling shows up.

Even though Gold is having its day in the sun and will continue to do so given economic events around the world, investors are also clearly looking for good to great quality copper projects in juniors that seem to be few and far between. Eclipse has the potential to deliver on both these fronts. As always, DYOR and good luck.

Mr M.

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Just spend some time reading posts on SVY and a link posted on 29/12 at 12.57 by Tumby about the giant SAmerican Cu deposits. Wish I could copy the link here. There is another great comparison on grades by SKi01 at 20.58 on 26/12.

There are similarities between the geology in SA and the Stavely Arc region in Vic where both SVY and NML are drilling.

I particularly note the comparison of grades at Cadia at less than 0.5% Cu and the same Au which are similar to initial drill results at Eclipse back in 2013/14 and now we are drilling below the supergene blanket referenced in the SAmerican article and also known to exist at Eclipse.

These are massive Cu deposits, up to 3km deep, up to 1.5km wide. Those SA deposits contain between 56m and 96m tonnes of Cu at grades less than half a percent.

I think both SVY and NML have stumbled or perhaps that isn't fair, have systematically worked their way into finding another Cu/Au/Ag/Pb/Zn region that is going to create a frenzy amongst explorers and investors alike.

Looking forward to results of DD at both Eclipse and Glenlyle in the very near future.

Next 12 months will be very interesting, there could be company makers both in the Stavely Arc and at Tandarra.

As always, do lots of research and GLTA.

Mr. M.