My time frame for the release of the various assay results etc. is as follows:
During November (basically the next two weeks):
Next batch of Phase 1 assays. These assays will be primarily for the holes MTRC0011AD and MTRC005D which were far further to the south (where I believe the better Nickel grades and intervals will be).
From what I have gathered, hole MTRC0011AD may have encountered a very nice interval of 38 meters (comprising PGEs, Nickel, Copper and Rhodium). What of course we don't know is how good the average grade will be. If this 38 meter interval has a Nickel grade at or above .30%, this would put it on par with GAL's intial discovery hole i.e. NRC266 (which reported 33 meters of Nickel at .30%)
With regard to hole MTRC005D, again, and from what I have gathered, this hole may have encountered and even better interval of 49 meters (comprising PGEs, Nickel, Copper and Rhodium). Here again, we don't know yet how good the average grade will be. However, if the Nickel grade is at or above .30%, this would make it a better discovery hole than GAL's intial discovery hole i.e. NRC266 (which only reported 33 meters of Nickel at .30%).
Ryberg and Mestersvig final assays. Here just about anything is possible.
During December:
Final assays from the remaining Phase 1 drill holes. Here just about anything is possible i.e. if holes MTRC0011AD and MTRC005D have indicated significant mineralisation and with very good intervals, these remaining Phase 1 drill holes might also be very good.
First assay results from early Phase 2 drilling. This will no doubt be mainly about the presence of large intervals of pegamatites, accordingly, if these pegmatites are hosting potentially economically viable quantities of Lithium. Having said this, I also expect that the first round of assay results from early Phase 2 drilling will also reveal high-grade Nickel hits. The following pic will show you what I mean.
During January:
Further assay results from Phase 2 drilling. Here again, this could be a a mixture of high-grade Nickel hits, as well as large intervals of pegamatites (hopefully hosting potentially economically viable quantities of Lithium). Here again, the pic above will give you an idea of what the drill bits are likely to encounter.
CR. Here I am thinking that around the time that all of Phase 1 assays, as well as most of the Phase 2 assays have been announced, CNJ will announce a CR in order to conduct further "infill" drilling around the most prospective areas that they have discovered (from both their Phase 1 and Phase 2 drilling).
On a separate note: particularly with regard to the Phase 2 drilling and potentially high-grade Nickel and/or Lithium hits, if either of both of these are clearly visible in the drill cores, both CNJ and GSR will probably have to disclose this information before they send them off the lab (see Guidance Note 8 under the ASX guidance rules on continuous disclosure which specifically deals with reporting mineralisation on a mere visual inspection).
Cheers.
CNJ Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
