Nickel deposits can (in initial drilling) be INTEPRETED to be continuous and tabular bodies, but when accessed by underground mining are found to be numerous stringers, shredded by faulting. While this drilling by BUX is encouraging, one has to be very cautious to properly evaluate the deposit before reporting "reserves".
If you want a good example of this, look at the "Radio Hill" nickel deposit near Karratha. Periodically, junior and hopeful companies look at the drill results and conclude that it is easy to mine. Companies have come to financial grief on this deposit because the dis-jointed the nickel sulphide "lenses" are almost un-mineable.
- an ex nickel "miner".
BUX Price at posting:
18.0¢ Sentiment: Hold Disclosure: Held
