EMU 4.17% 2.5¢ emu nl

Ann: Discovery Hole at Vidalita, page-16

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. WCJ
    230 Posts.
    lightbulb Created with Sketch. 59
    There are quite a few holes to go in this program but the majority of the holes are simply tighter spaced infill holes following up on the most promising hits from last season plus a few speculator holes in surrounding areas (see Below).

    https://hotcopper.com.au/data/attachments/1467/1467005-4d1c3bd6ab6466aaf480036ec06c5c79.jpghttps://hotcopper.com.au/data/attachments/1467/1467006-65d36521ac18bab52ba297ef7a9d65b1.jpg

    The primary objective here was to infill the existing 600m x 1200m target to locate the economic portion that they knew was there based on the high grade rock chip samples they previously collected and they have certainly achieved that. I am failing to see the multiple targets you are referring to unless you are referring to the priority intersects from last years drilling? At the commencement of the field season they released an announcement highlighting their main exploration target which was along the 5300N section where the discovery hole was drilled, see red circle outlined below:

    https://hotcopper.com.au/data/attachments/1467/1467020-eb00c758a83335cbbbf8447ddaf234e5.jpg

    They have outlined a rather large area and made specific comments regarding the potential for a substantial orebody. But if you look at the results thus far, the underlying polymictic (diatreme) breccia highlighted in orange above appears quite barren (see red circles below). Further, the mineralisation appears largely constrained to the overlying vuggy quartz which they appear to have specifically targeted in this campaign:

    https://hotcopper.com.au/data/attachments/1467/1467026-97e1c973efd9e1db77451ed811ef8a59.jpg. https://hotcopper.com.au/data/attachments/1467/1467028-656c8524f2c783948b3fe317fd3b1889.jpg

    When you compare the above to the Salaries Norte below you can see consistent high grade intercepts in the underlying polymictic breccia which appears to be largely mineralised in its entirety. If Vidalita was indeed another Salaries Norte would you not expect to see some broad high grade and continuous intercepts underlying the discovery hole? I certainly can't see that, hence my references to hyperbole which the company has a well established track record for. It is still early days and they may very well get some decent follow up hits at depth as they explore along strike and down dip later in the season but I personally would not be expecting a monster discovery based on what I am seeing thus far.

    https://hotcopper.com.au/data/attachments/1467/1467033-dcc6d73dabe194cd38db53dd4a221e56.jpg


    Last edited by WCJ: 12/03/19
 
watchlist Created with Sketch. Add EMU (ASX) to my watchlist
(20min delay)
Last
2.5¢
Change
0.001(4.17%)
Mkt cap ! $3.262M
Open High Low Value Volume
2.5¢ 2.5¢ 2.5¢ $2.5K 100K

Buyers (Bids)

No. Vol. Price($)
3 194775 2.4¢
 

Sellers (Offers)

Price($) Vol. No.
2.7¢ 40200 2
View Market Depth
Last trade - 15.04pm 15/11/2024 (20 minute delay) ?
EMU (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.