Going Up Results Due ??, page-114

I found the above article on the discovery of Calibre. I think it's worth noting the massive amounts of copper in their first few drill holes.

Highlights of this drilling included:

– 373.3m at 0.67 per cent copper equivalent (CuEq);

– 450m at 0.5 per cent CuEq;

– 87.2m at 1.05 per cent CuEq; and

– 76m at 1.05 per cent CuEq.

Also, you can see that Antipa had big expectations for Calibre from the start. And as evidenced by Rio Tinto with Winu, high grade is going to be the biggest issue going forth with project development.

“Publicly-available, independent research reports propose that, depending on cut-off grade, the Calibre deposit could host between 50 to 300 million tonnes and 2.5 to 6.3 million gold-equivalent ounces,” Mason said.

“In copper terms, that is half a million tonnes to 1.3 million tonnes of copper equivalent.

Mason said geophysical surveys conducted at Calbibre suggest the deposit may continue to increase with depth.

IMO, Rio stakeholders would much rather prefer development of multi commodity mines in Australia, supporting Australian jobs & local businesses, instead of risky & costly ventures overseas. Rio's Mongolian project is not only delayed by 2 years likely, but is also over budget by $billions, and there is the big factor of sovereign risk. Also with their copper ventures in the US, there's the big issue with the Native American Apaches & planned destruction of their sacred mountain, even going as high up to Washington.