Thank you OzHerald, . . . and if Antofagasta proceed for another...

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1,630 Posts.

06/12/14

18:58

Post #: 14420686
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Originally posted by OzHerald ↑

OK so lets run a critical geological eye over the results.
96 metres @ .47% Cu including 26 metres @1% Cu
455 metres away we had Similar results in GHDD2 and they are replicated on GHDDs 1, and 6.
We have a large mineralised Skarn area showing consistent grades over a long strike length on a largish anomaly. What Gary, Greg and co haven't found yet is the source of the mineralised fluids that have produced this large area of consistent mineralisation.

It is a process of elimination and methodical application of new knowledge from each hole drilled and adding that data to the fine scale geophysics (gravity @ 100m line spacing) to find the bull's-eye we hope is there. The fluids came from somewhere and that structure should be close by and have significantly higher concentrations of the target commodities. Despite what Geophysicists tell us geophysical interpretation is as much of an educated guess as anything. They are very good at finding existing ore bodies, and when we find ours they will tell us they told us so and it matches their model. Look forward to the day.

Remember it took more than one hole to find the monster up the road at OD, if memory serves 9 were drilled before the money hole was drilled (RD10 I think). They are looking under 900 metres of cover, no easy task, if it was easy we would all do it, Western Mining were looking under "only" 300 metres of cover .
At OD the next 6 or 7 holes where Cheapprice's typical dusters but ODs 17, 19 & 20 were company makers.

Perhaps next time they will turn the drill through 180 degrees and drill back the other way and find the rainbow. Narrowing the target area and trying again is the name of the game, and remember Monax ARE NOT PAYING FOR IT! Their JV partner is, what's not to love?

And now we have a distinct possibility of diamonds as well, perhaps in 12 months the ASX and the ASIC will investigate the company as a "How to do it" example of success!

We have only drilled 9 sighters here, perhaps history will repeat and number 10 will be the monster........

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Thank you OzHerald,

. . . and if Antofagasta proceed for
another 19% (70%), and Monax elect
not to co-fund; $US5m more will be
invested in exploration, as you highlighted,
by Antofagasta.

Further fully funded drilling of $US5m down the road from Olympic Dam!

If the decision is to proceed; the current
market cap @ $A3.6m seems well leveraged
to any success on this one project.

MOX Price at posting: 1.7¢ Sentiment: None Disclosure: Held
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Thank you OzHerald, . . . and if Antofagasta proceed for another...

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