This is how I see it. The 245m of 700m strike will be representative of the 3 main ore zones ( NCu, Chalcocite, primary zone).
Previous drill results along the entire 700m zone would prove it is a geologically representative sample, if that's being questioned.
Note the purple zones (4-8% cu eq)in the diagram below, based on previous drilling and subsequent assaying.
You can clearly see the very high grade 400m zone.
This is the target for initial mining, and provides the highest grade ore then plant design must account for this in bulk testing to ensure max recovery (assuming thats were the samples are taken from). If they mine at > 4% cu for first 4 years I'm very happy.
The company did release NCu results from core that wasn't sent to WA for the bulk testing and subsequently assayed 65m @6% cu eq, 91m @ 4% cu eq, 55m @ 2.5% cu eq.
Once again the plant design needs ore thats representative of whats going to be put through the mill. I don't think there's anything wrong with bulk samples coming from the areas they are going to mine. If you're spending $200M on the plant why would you base its design on non-representative ore? It would be a major mistake, and highlights why over $4M has been spent on getting this testing right.
In doing the bulk testing it does highlight the major discrepancy between the jorc resource and bulk samples.
People would need to do a little bit of thinking and personal research to understand the reasons behind the discrepancy. A favourable finance/offtake deal should provide further clarity for many.
CDU Price at posting:
$3.09 Sentiment: Buy Disclosure: Held
