The good results that the company has had in the past without being able to remember the exact holes and prospects have essentially consisted of 2 intersections of what is known as a kumpfferscheifer (spelling probably wrong, my German is not great) style deposit where the grade was somewhere around 1.6 % copper with some cobalt as well over lengths of about 5m.
The other intersection, which got me interested was when one of the holes pierced from memory about 100 m+ at about 0.7% Cu which the company believes to be an IOCG system i.e. Olympic dam, Prominent Hill, Hillside, Carrapateena etc. This intersection is what has got Xtrata interested IMO.
They have what appears to be very prospective ground and Xtrata are bringing their experience along with their cash to the table which should provide good results once drilling starts IMO.
Yes I do work in the mining industry.
AXT Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
