Well , I must be different ; not much question after today’s announcement !! First ..HC comments appear pretty sombre . Second ...the ultimate test ,the market , graded the announcement a bare pass ( 50%) . I am going to lead with the chin ...step up and have a crack !!
What was I looking for as an outcome of the Magnetic Survey ?
Well , we have a large variety of data on the tenement already , so I was looking to see that the new data confirmed the other datasets and confirmed the direction that we are heading (to drill) . In particular I was keen to see that we had "Signature" magnetic lows . Those damn things that they had at Rossing South . So what did we get ? “The new geophysical data provides strong additional support for the mineralisation model. The high-resolution magnetic signature (magnetic lows corresponding to potential alaskite units, Figures 3 & 4) and airborne radiometric signature (total signal and uranium only signal, Figure 5) show direct spatial correlation with the known high-grade mineralised zones at Mile 72, in areas of outcropping or subcropping schists, granites and alaskites, and in some cases in areas of thin basaltic cover. “ Huh ....does it get any better than that ??
But what , there is more than we already knew of !!
“Numerous areas of magnetic lows have been identified throughout the licence area (Figure 4). Some magnetic lows, which are thought to correspond to alaskites in the subsurface, show a direct correlation with areas of surface mineralisation. These lows are, however, far more extensive than the presently known extents of outcropping mineralisation, following and extending beyond the broad subsurface anomalies defined by the Company’s earlier radon cup survey. “ “Many lows are cross-cut by a magnetically strong, northwest-oriented dolerite dyke swarm, which tends to mask the full extents of the lows.” So you mean to say that we have more lows than I can see in the Pic .
Several targets have been identified. ”. Uranium is therefore limited to areas of schist-granite-alaskite outcrop, consistent with a Rossing-style model for mineralisation at Mile 72. The area has an equivalent propensity to generate alaskites (the hosts to uranium mineralisation) as the “Alaskite Alley” area that contains Rössing and Husab (Figure 2). • The current interpretation of the geology from the new geophysics data (Figure 3) confirms a large area of the licence being underlain by the target sequences of Damaran schists, granites and alaskites (Figure 2). “
Shit ...look at the Pic ....that light brown stuff they are talking about covers ~ 2/3of the tenement !! BUT ...the market says I am wrong AGAIN . I gotta get a new job and get off the Dole !! One last piece of the Jigsaw to fall in to place . AND YES ....I would have liked them to be a bit firmer re a drilling date .....but my enquiries suggest that things will be happening on-site in late April/Early May. AND ..perhaps I am wrong again ...but I swear they were as excited as Kevin Rudd in a room full of mirrors when they spoke to me about the magnetic results !! DYOR ...I am on Coke !! LOL GLTA Q
MLS Price at posting:
1.8¢ Sentiment: LT Buy Disclosure: Held
