This ~320m core hole was more to do with JORC conversion to 2012 standards... not to expand tonnage or exploration i believe.
It is mentioned however, that the previous ~300m drill holes (from last quartly ann) all ended in mineralization so it looks like we have a very deep deposit that is minable from the surface. I found a model of a possible open pit design of Unaly Hill (below)
It is also worth noting that although our current JORC resource is 86.2mt @ 0.42% v2o5, 23.57% Fe, and 4.52% Tio2, there were two substantially higher grade intersections:
- 117m @ 0.66% v2o5, 9.6% Tio2 and 34.5% Fe (UH4)
- 50m @ 0.72% V2o5, 10.0% Tio2, and 37.% Fe (UHN105)
Those v2o5 and titanium grades look much better and may place us more in line with some of the higher grade resources out there as 0.42% is a tad low right now imo.
UH4 drill mineralization interpretation below:
Further drill holes around and south of UH4 is listed below as long as well as their assay results:
Just from looking at these results, it looks as if the higher grade portion for vanadium, magnetite, and titanium all occur in the north half of the unaly hill prospect - which is interesting since the total magnetic intensity is strongest/biggest on the southern half.
UHN105 hit an intersection of 30m at 0.89% V2o5 (very high grade) along with 46.5% fe and 12.48% TiO2. If we can get some more exploration around UH105/UH4 and with some decent tonnage around the northern higher grade portion, we will compare well against all other vanadium/magnetite/titanium mines in terms of resource and we might be able to get some value out of this one. BTW - magnetite at 46.5% Fe is very high grade I believe and likely to be concentrated to above 62% Fe fairly easily - and will attract a premium pricing.
Along with Kooline - which i encourage everyone to compare to Galena Mining since Kooline shares a few similarities with Abra - our MC could fly past 50mil once more exploration and jorc resources are done.
Unaly Hill + Kooline makes SRN a very interesting company.
