Past production at Enasleigh was 130,000t down to 220 metres.
Its obviously a high grade but pretty small slug of copper ore.
This thing will have to be drilled a long way down dip to start generating a decent ore reserve. Either that or it has to get bigger in size at depth.
To generate a million tonnes of ore, this deposit would need to go down 1400 meters if the geometry stayed the same....... Thats not good.
I think the market is waiting to see if 1) what the EM work shows and 2) what the drill hits at the other nearby prospects.....
The problem here is that the "potential" of the deposit has an apparent limitation from what is already known from past working of the deposit.
That is why the market is unwilling to take this one any higher for now.
If the EM shows the orebody could be much larger at depth, that could cause some excitement.
acturtle
Past production at Enasleigh was 130,000t down to 220 metres.Its...
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