NXM nexus minerals limited

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7.8¢

Not to get too bogged down in BTR but I also note the...

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robbo24

11,339 Posts.

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21/02/24

12:19

Post #: 72513799
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Originally posted by nofiller: ↑

The fact the director was defending it online etc, was also pretty funny.

I usually think@robbo24 is right on the money, but the ref to BTR doesn't do it for me ( I don't follow the others so can't comment).

But to me, BTR's announcement / drill was commical. As you said, blatant director special. While 'goood' drill results are probably not being given the recognition that they deserve at the moment, I do not think that the BTR results are a good exmaple / comparison. I explain my thinking by comparing the BTR results to those that were flagged on the thread

BTR thread here - https://hotcopper.com.au/threads/ann-34m-7-9g-t-au-intersected-at-cork-tree-well.7845388/#post-72441676

Post comapring BTR drill results to DEG, NCM and Cora Gold. https://hotcopper.com.au/posts/72375178/singleHave a look at the DEG announcement back then - https://degreymining.com.au/wp-content/uploads/2021/05/DEG_Strong_extensions_to_Diucon_and_Eagle.pdf

In particular, look at page 7 (Figure 4) of the BTR annnouncement dated 13 February 2024. https://hotcopper.com.au/threads/ann-34m-7-9g-t-au-intersected-at-cork-tree-well.7845388/

Then look at:

page 4 of the DEG announcement (Figure 3) where they hit the 36m at 6.9g. https://degreymining.com.au/wp-content/uploads/2021/05/DEG_Strong_extensions_to_Diucon_and_Eagle.pdf

Also have a look at other announcements DEG was throwing out around that time, and the sheer number and size of their results - https://degreymining.com.au/wp-content/uploads/2021/05/DEG_Strong_mineralisation_intersected_in_Crow_and_Aquila-1.pdf

The NCM exploration results for Brucejack (see page 3 and 4 of the quarterly exploration report dated 21 July (spoiler alert, the results are absurdly good, which is understandable, given that Brucejack is one of the highest operating goldmines in the world) 2022 https://www.aspecthuntley.com.au/asxdata/20220721/pdf/02543982.pdf

Cora Gold announcement dated 18 August 2021 - https://polaris.brighterir.com/public/cora_gold/news/rns/story/x8qej5x

If NXM has good hits down at Bethanga, I think we will see (relatively?) reasonable SP improvement. That said, a large part of NXM's drilling at Bethanga will be lithology and mapping...they may not be right on the money with the first few DDHs, so I am not looking for wild grades of gold or copper to be returned. Good grades (and the right rocks ofc...) to indicate that they are in the right spot is all I am looking for from this first campaign at Bethanga.

Cheers

NF

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Not to get too bogged down in BTR but I also note the following:

In order to provide sufficient rock mass for the metallurgical test work purposes across all oxidation states at theDelta (oxide, transitional and fresh), CTWMET004 was drilled sub-parallel to the ore body at Delta

CTWMET004 drilled sub-parallel to ore-body for metallurgical testwork purposes

The large/continuous mineralised interval (34.4m @ 7.94g/t Au from 43.5m) returned in CTWMET004 drilledsub-parallel to the previously defined ore-body will provide requisite material for planned metallurgical testwork.

CTWMET003 and CTWMET004 are designed “down dip”and sub-parallel with the ore body and with a larger diametercore to collect sufficient mineralised material for metallurgicaltestwork purposes.

CTWMET003 and CTWMET004 are designed “down dip”and with a larger diameter core to collect sufficient mineralisedmaterial for metallurgical testwork purposes

Or as Rovira said himself: "Either drill one Met hole down the ore body, or drill 3 diff holes in ox, trans and fresh zones for 3x the cost to deliver the same outcome to met lab."

NXM Price at posting: 3.5¢ Sentiment: Buy Disclosure: Held
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