I posted the following on the ENR threads, but looking at the whole composition thought it worthy of posting here as well. Looking at the 3 areas where high grade Niobium has been found, a pattern seems to be emerging and I suspect a lot more to still be found...
If anyone was going to have extensions to Luni, it was always going to be ENR, and with Jon Hronsky on the board all the geologists will be on their toes to make sure they get the correct call. (though he is a really nice guy when you talk to him).
As WA1 had 2 hits with their first drilling campaign 25km apart, it made sense that this part of the Arunta was well endowed with carbonatites, so further finds were going to happen. The big question is how big and how rich any of the ground is.
The latest round of assays being 52M at 3% Nb2O5 are very decent and fit right in with the grades of Luni. How much of this high grade is what's still to be determined. As we have found some and given the extent of aircore drilling around Green, I assume the geologists liked what they saw so kept drilling there. I suspect this is also what the market has picked up on.
Given there is only one Araxa, and now we have Luni as a second high grade large ore body find of Niobium, what are the odds that this area matches Araxa in overall Niobium content and size, only spread out like a jigsaw due to faulting and movement over the last 1.5B years?
I bought in here at 35c a few weeks ago, just in case my initial thoughts of where more Niobium might exist were incorrect. None of us have all the information, but with 3 areas now with Niobium, expectations would be of 'more', most likely on the ground of ENR and WA1, so I hold both..
Going back through a lot of maps and announcements and
@salpetie posts (who stole your red heart?), including the geologists technical report in WA1'a prospectus, all 3 finds of Niobium are located along a corridor of where we have the Lake Mackay Quartzite and Carrington suite granitic gneiss in close association with each other.
This 'corridor' appears to be an inverse S shape of 12-15km wide from the Pachparda area heading North East, then turning broadly South East on both sides of the Endurance fault, then ENE again heading to Perce and Mawson.
This map from
@salpetie shows the quartzite and gneiss areas as clearly as anything...
You can clearly see P2, Crean, Luni and close associations....
North of Elephant Island fault, once East of The Endurance Fault seems unlikely, while once you get South following in a ENE from about Lake Mackay also seems a boundary..
Lots and lots of ground to search for more carbonatites with Green looking to be an ideal area.
I think both companies have huge areas to search and huge quantities of high grade Niobium are in this area, which means the possibility of the area equaling Araxa are fairly good eventually.
AIMHO..
(20min delay)