Ann: Final Walford Resource Drilling Results for 2018, page-5

Good to see this post from speccy.  Hopefully a good reward for those who have weathered a rather bleak 2018 in SP.  Not too different from many exploration spec stocks where there are good to excellent exploration results but the SP doesn't reflect that for whatever reason.  I did choose to sell AML after a bit of thought.  Depending on my situation and timing I may get back in again.  Played that game last year as the Wet set in but got a little burned - c'est la vie.

While the constrictors are photo shopped the Python 1 and 3 zones at Walford Creek,  whoops Py 1 and 3 are not.

The analogy though is pretty good. 

The stripping ratio will be problematic for open pit development of the entire Walford Creek deposit so I would expect some, possibly a lot, of underground development coming out of the bottom of open pit(s).

If my calculations are correct, strip ratio of Py 1 and 3 possible ore zones on this example for the 212230E section (to sub 200m) is probably within the realms of open pit mineability. 

I may have been generous with what I considered ore but that's likely to be swings and roundabouts.  Lose some here gain it closer to the FRF at possibly much higher grade.

Lots more work needed and drill density is going to have to be increased as it is with any mining activity. 

Geotech work is required to design optimum pit walls.

The initial sub 1% Cu 2017? resource grade is present on quite a few sections but cobalt and other credits may come to the party to lift grades for the lower grade portions.   The problem with this is processing cost increasing but again this probably has economic technical solutions. 

Some of the low grade zones that wouldn't be mineable in their own right could help economics.

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Depth/strip ratio is one issue, another is the anaconda analogy where the cross sectional and strike variability of size and grade will require significant study and IMO potentially complex underground mining and processing. 

Given grade and size these are probably a technical issues that can be dealt with.

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I did try to get my head around the infill drilling but just skimmed through as there is a huge amount of information provided that is too much for me to handle with ease if at all.

I just came away with impressions of fair to good continuity of grade and thickness along strike but laterally, away from the Fish River Fault, the Cu grades are highly variable and give way to generally rapidly thinning distal Zinc Lead fairly quickly.  Cobalt seems to be more persistent than copper albeit at relatively low grades.  These are  "gut feel" observations and would need to be very thoroughly checked.

This is an image a selection of sections between 211480 and 212230E which is not necessarily representative but shows aspects of what I am talking about.

The green circles highlight lateral variation of grade which is well known.

An updated resource.....

Looking quite good to the west.

Not too much drilling to the east with results not catching the eye very much.  There is something going on but IMO they haven't quite worked out what it is yet so watch the announcements perhaps not in the near future but at some point in time down the track. 12+Kms is going to keep AML busy for quite some time.