Yesterday's satellite image still has a lot of cloud around.
Main points:
- In-fill continues along with sterilization drilling. I assume the companies forecast for in-fill drilling to complete by this Sunday remains on track (next satellite image will confirm this). There is quite a few rigs performing sterilization / geotech drilling, and this could be purely for planning an DFS purposes, but the number of rigs in this area is making me wonder if they've found mineralization there and need to confirm how much is sitting there.
Sterilization/geotech area image below:
- The most exciting part is that although there is a heap of cloud cover over Planalto, I can see a new drill pad has just been cleared (circled), which should mean that drilling will recommence over the coming days with at least one rig. If the next few holes at Planalto show consistent thickness and grade, there is potentially large upside in the short term for the share price (because an additional ~20-30MT tonnage) will tip us over into confirmed Tier 1 status (but there's obviously no guarantee this will happen. Also, if Planalto hosts shallow mineralisation, it could have positive implications for the first few years of output (very simple 1.5km trucking distance back to the Colina plant).
LRS General Discussion, page-17300
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