Nice solid NR. 35m @ 2% certainly stands out, albeit from an infill hole inside the base case pit. Haven’t compared to neighbouring holes but results said to be “in line with expectations” so presumably surrounding holes have similar grades/widths, which are great in anyone’s language.
Another thing I thought encouraging was the NPF contact in hole 125D - 57m wide, essentially all at 0.3% which is unlikely to be economic esp at that depth, but with 2m at 2.9%. I haven’t really been following that closely so may have missed one, but I think that is the first hole showing high grades at the NPF contact? Hole 133D also had 1.7m at 1.4%.
The 0.3-0.5% stuff is useful in demonstrating the background level as Sprott has highlighted, but the higher grade stuff indicates potential higher grade vein-hosted mineralisation similar to what Cupric has at the NPF (from memory they average 9m at 2%). Now that they’ve shown they have potential vein-hosted mineralisation at the NPF, the next step will be to show it is more extensive and at broader intervals. But for me a potentially significant development so I will watch for more of that.
MOD Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
