No real ideas about the structural setup. But if the target is a Mt Keith style peridotite with a huge volume of diseminated Ni sulphides in a cumulate layer laid down by magmatic processes, where metamorphic upgrade is not essential to the mineralisation, then the only influence of structures and faults is to off-set the mineralisation, not control it.
I think investors need to chill out. It's drilling on a hill in the butt end of Laos in the jungle. The Board will be rightly awaiting definitive chemical analysis before pulling the trigger, because of the issues in visual estimation outlined above. At best the earliest disclosure could be that they have drilled X holes, found Y metres of diseminated sulphides but saying whether it is pentlandite, millerite or other species would be a risky business.
It also hasn't been an overly long period since commencement. Drillers rarely start on the first day they mobilise. The rig breaks down. The drilling is slow. THe holes have to be logged, then cut Laos may have laws around export of minerals, which could require a lot of paperwork. The core or pulps then get shipped OS, maybe to Thailand, maybe Brisbane. Quarantine and customs delays. Etc etc.
SMI Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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