Spent a bit of time last night looking at the results from any of the deeper drilling. The best deep results come from near the South in the V between the 2 faults, with LuRCD23115 (RCD being an RC hole with diamond tail, going deeper). There was also LUDD 23016 about 100m to the East.
Commentary in the 21 Feb announcement about the deeper drilling contained...
" The potential for primary mineralisation in the deeper, unweathered zone is considered significant and will be tested at the appropriate time. The deeper transitional and fresh mineralisation remains poorly constrained, and the orientation of mineralisation in these zones is uncertain at this stage."
I notice they didn't state clearly if the deeper sections were still in weathered mineralisation or transition or fresh. The results for RCD23115 are very close to the fault, so could still be weathered mineralisation, but I'm sort of hoping it's fresh, as fresh would mean high grade could go much deeper, many hundreds of metres deeper.
The deep results from RCD23115 were....
142 - 153m, 11m at 0.99% Nb2O5,
157.2 - 165.8m, 8.6m at 1.46% Nb2O5
169.9 - 173.8m, 3.9m at 2.03% Nb2O5
Still in lower grade at EOH.
If we assume this was fresh mineralisation, then the ore body, judging from the gravity survey could go to significant depths. If we assumed that there were these various veins of higher grade mineralisation deeper, then underground mining of these higher grade veins could add a lot to overall tonnage of high grade material.
For example if the 'fresh' ore body was around 400m X 400m footprint (very rough eyeballing from Gravity survey 7/3/23 announcement), but went 1000m deeper, the 'pink' part of 'Luni Deeps' in the announcement. Even assuming there was only a total of 15metres of high grade veins per 100metres of depth, at an average grade of 1.5% Nb2O5, would add another 60-70 Million tonnes of high grade ore to overall inventory.
Of course lots of assumptions above, but it means that results from diamond drilling in this area could add significant meaning to the overall deposit. I notice in the holes still to be reported are 7 diamond holes just to the North of RCD115 and DD23016, in a couple of semi circle arcs a few hundred metres away.
They will hopefully be deeper telling everyone a lot more about our deposit at depth, while also adding confidence to the shallower known mineralisation.
With only a couple of more announcements of assay results to go, a lot of this diamond drilling should add way more information to work with.
Please note my above calculations were "If we assume!!", I'm not trying to guess what's down there. I'll try an make a guess when we have a lot more information!! It's just that the next release of assay results has plenty of possible oomph in it and I'm hoping for at least one of those diamond holes going to 400m+ depth...
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