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23.5¢ cudeco limited

Total Copper Resource, page-15

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jantimot

30,924 Posts.

174

23/09/14

15:33

Post #: 14015915
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Originally posted by Gneissic ↑

ozblue,

It is true lots of people agreed with my post including some people very close to the company. The new HotCopper site allows us to identify the nicks of people who give us thumbs ups and some posters have very kindly disclosed their associations with Cudeco. Not me. I don't work for them although their head office is only an hour away. Right now I have plenty of work enough to keep me busy although I would certainly welcome a limited professional association with the company some time in the future.

That is what I would need to give you realistic numbers rather that the generalisations I gave in my earlier post. Of course, if I were working for them I wouldn't be disclosing numbers that had not already been published. The problem with the numbers you used is that they are your guesstimates and many of them are just wrong.

Let me give you two examples.

The chalcocite as I explained before, is easily lost from drill cores and doesn't get analysed. There are at least 5 horizons of chalcocite bearing ore extending all of the way down the drilled out depth. It isn't just in the supergene zone. As an Earth scientist, I read what is presented in the charts, maps and cross sections the company gives us and I probably get more information than people without the specialised knowledge. Over the years we have been provided with a substantial amount of information, in part this has been in response to the misinformation people such as shorters put out but also the company is clearly excited to be working with such an amazing deposit and they share that excitement in their disclosures.

Given the provence of the company's mine, I expect the resource continues at depth. We cannot be sure it is as big as Mt Isa but there is a strong possibility that it is. No point in overdrilling at the moment. Now is the time to focus on the open pittable resource/

The native copper is quite probably all near surface in the supergene zone but that zone is actually wider than the primary ore body. I expect the native copper formed from copper rich solutions forming within the ore as it oxidised near the surface. These copper rich solutions seeped into the rocks on either side of the ore body and the copper separated out because of electrochemical reactions.

However it formed, the company has told us that the native copper zone is wider than the primary ore body and it wasn't measured during drilling for JORC. This drilling naturally enough, focussed on the primary line of lode.

In summary then, firstly we have multiple zones of chalcocite where you thought we had one. Secondly, we have a larger zone of native copper than was measured in the JORCing process.

Expand

"The chalcocite as I explained before, is easily lost from drill cores and doesn't get analysed."

But is that true? The geo who did the JORC stated clearly that there was no indication of bias due to diminished recovery from the cores.

As for multiple zones where it was thought there was one, the variability within the zones of mineralisation was also commented on. To the extent that assays of twin holes can't be used for verification.

Interesting read, the last JORC. Well, the bits of it the company saw fit to release to the market, three weeks after it was produced, anyway.

CDU Price at posting: $1.67 Sentiment: Sell Disclosure: Not Held
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