A rehash!
A massive shock, BHP released some exploration results....
This either means two things
- They're fecked and desperate for Eric Sprott's cash
- They've found something huge and they want to show-off
There wasn't much to go on from the PR, just some assays ...
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| obviously hole AD-23 included an intercept of 1m of 180% Cu... |
Why don't we compare this against the discovery hole for a small deposit called Olympic Dam.
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| Source: Geology for Investors (link) |
First thing, it is quite deep...
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| 1.2km depth, I wonder if they'll have more water to pump than Platosa? |
Great discovery. The exploration group will be patting themselves on the back for months after this one.
ReplyDeleteOn the hole location screwup...they said this near the end of the release..."All drilling information prior to 2018 has not been through the same quality control and processes described in this release and uncertainties exist in respect to the survey (dip, azimuth)."
my mistake
DeleteDear Mr. Angry: to be fair - they also say at the bottom of their release "The accuracy provided for datapoint locations (AD 4, 7, 13) cannot be confirmed! Assuming they still have the core they should be able to get a better idea just based on geology or assays! But indeed should be embarrassing for them - except they have potentially made a very significant discovery!
ReplyDeleteIt should be reasonably to use a GPS to get coordinates for older holes...unless they can no longer find the collars.
DeleteThat should read "reasonably easy".
DeleteI should have read it properly, I was rushing to get something out as I was travelling.
DeleteI've updated the post, but imagine if the previous holes have just gone a bit deeper
I thought a review of their third quarter financials might reveal what cash came in and what cash went out. (Cash flow statement, not income) So I went looking for it but it still isn't out. If it had followed normal release dates it would have been out in late October. I wonder why it still hasn't been released?
ReplyDeleteI might suggest the possibility that the map showing drill collars on gravity has been provided in an old datum, AGD66, whereas the collar locations for new holes in the table are in GDA94...that would account for the systematic difference.
ReplyDeleteAlso, the GFI link misses what actually happened in the discovery of Olympic Dam. The first hole RD1 intersected about 30m @ 1% Cu. But the mineralisation was as fine-grained, disseminated chalcocite and wasn't initially identified due to difficulties in distinguishing it from dark grey hematite. Luckily WMC had a policy in place to assay every metre of drill core...
The name of the latest area drilled is Oak Dam...a prospect known about since the 70's. Oak Dam East received most of the focus in those early days. Oak Dam West is the gravity feature most recently drilled.
More info here: http://www.portergeo.com.au/database/mineinfo.asp?mineid=mn1400