Not sure I agree with that entirely, it takes time and drilling to understand exactly how the system has been formed, and then to focus on the most prospective areas; and on the GBR modelling the massive Nickel sulphide deposits may be typically quite widespread, hence the new tenement acquisitions, indicating a much larger and potentially richer discovery, and it must be remembered they are drilling across kilometers of vast open country :
“There is now a pattern emerging which supports our geological interpretation as to how the sulphide system was formed and where the higher grades and wider mineralisation may be found,” Mr Murphy said. “Once all assays are received we will be able to target the prospective rocks that host the higher tenor nickel and look for the base of these intrusions where massive sulphide typically accumulates.”
To say they couldn't find >2% Nickel because that's all they have found so far is not exactly correct, given that they are looking for massive Nickel sulphides that typically sink to the base , the % Nickel in these is still completely unknown:
"..The results show multiple sulphide phases at the Eastern Mafic, with the most prospective and higher nickel grades and tenor occurring along the feeder zone and the intersection of the feeder with the Eastern Mafic. Great Boulder will focus its exploration efforts along the 6km feeder zone and neck of the intrusion, targeting basal accumulations of the higher tenor nickel sulphide. Massive sulphide typically accumulates at the base of fertile mafic intrusions and higher grades are found where the high tenor nickel sulphide accumulates...."
They are still in very early phases of discovery:
"..Moderate strength conductors associated with higher tenor nickel have produced the best results, eliminating spurious responses from highly conductive but barren sulphide. DHEM plate modeling provides the shape and location of the strongest part of these conductors, which can then be targeted as potential sources of more massive and higher-grade nickel. Identifying the mafic-ultramafic unit that hosts the higher-tenor nickel sulphide is key as it has the best potential for basal accumulations of high-grade nickel sulphide mineralisation...."
and there are still a number of assays pending, where more sulphides were found:
"...All remaining samples have been dispatched to the laboratory for analysis, with final results expected in 3-4 weeks. The DHEM survey at the Eastern Mafic has also been completed with conductor plate modelling underway..."
I thought the results showed excellent progress and while we focus on the Nickel search the copper at Mt Venn is mineable in it's own right, it would appear. With virtually free infrastructure being currently built next door including a high voltage power station/sealed roads it would appear GBR are in a very attractive position atm..imo.
GBR Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
