Well that's the final nail in the coffin for the battery hub project, in my opinion. Unless the less explored Five Fingers area can produce anything.
The primary grades required in order to beneficiate the ore into a saleable product of at least 32%Mn is:
- 20%Mn for detrital ore (Julia prospect)
- 14.4%Mn for stratiform ore (Pools, Steven Ridge and Isle prospects)
After 2,880 metres of RC drilling, looking over the attached drill results for these prospects, Julia prospect provides just 9m of intercepted mineralisation that is over the required 20%Mn grade. The Pools prospect offers just 27m of mineralisation over 14.4%Mn and the Steven Ridge/Isle drilling intercepted 34m of mineralisation of sufficient grade.
A cobalt by-product means nothing if the manganese primary product isn't there.
This is the second company now that has explored these tenements and come up with nothing of great value. Hopefully they waste no more of the cash on these tenements, except perhaps a brief RC campaign over the Five Fingers area, and utilise the cash for a new acquisition.
Nebu
Julia Drill Results
Pools drill results
Steven Ridge and Isle drill results
