The section at 4,5,6 shown on the Investor Presentation, which after all had the benefit of the Plunging Plate DHEM data interpretation (15th April) shows a happy postulated deposit at 420m downhole sitting on the only basal contact.
Now this deposit.. if it is the same one... is to be found at 260m and a basal contact appears... anyway...
Incidentally the collar position for this proposed second hole appears to be only a few metres away from where Newexco originally proposed their hole to explore the Plunging Plate.
"Diamond drill hole RHD0013 was drilled at the Northern end of the Talc Lake deposit to test the depth extension of coincident nickel/copper/PGE anomalism in historical shallow aircore drilling and to establish a dedicated DHEM geophysical platform to enable better definition of an off-hole conductor identified previously from holes RHDD0004 and RHDD0005. The hole passed through a faulted contact between the untramafic and the underlying footwall basal resulting in the basal ultramafic contact remaining untested at this location. The hole was completed to planned depth (421m) providing important geological control in this area and cased for DHEM geophysics." (no diagram supplied)
Pretty clearly this hole was chasing the Plunging Plate and missed due to a faulted contact.. but it provided additional valuable DHEM data.
So combining the DHEM from the recent RHD0013 and the DHEM data from 4,5 and probably 6 (if it was rehabilitated) and the Newexco interpretation, a NEW approach is to be made to this conductor. I hope it is successful. They reckon it is worth a go.
The conductor is shown as RHC01 on the latest drill plan. A miniscule spot. I cannot see it as showing up on any MLEM conductor plots though. So it is a hot DHEM target, but does not show up on MLEM???
page 3 of above shows local MLEM targets at Talc Lake.
Anyway the Talc Lake work should be completed in 2 - 3 weeks from now, in time for the AGM, as is stated on the latest announcement.
Personally I want holes 2 and/or 3 to have some very good stuff reported. After all there is a good amount of geo-data and experienced people at MPJ. Dr. Hill has a "predictive geological model" according to the Investor Presentation page 12 .... so....I am intensely hoping for some correct predictions.
MPJ Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held