RE:RE:FinancingTake heart. All is not yet lost; the shotgun approach to exploration is over. And Darin would not sneak back into the light of day without an ace up his sleeve.
I'll take up the last point first, because it is the easiest. Darin knew he was on the ropes and had to drill a good hole. I am sure he placed the Grasset holes accordingly. Particularly the deepest one. We will see these results going into PDAC and I am sure they will be good. But Grasset is just for optics and no longer of primary importance.
Before I take up the second point I need to explain a bit about VTEM. VTEM is an electrical (conductivity) survey, often airbore that can detect sulfides in some cases. Rock conductivity requires that the conductive minerals be electrically "connected". Massive sulfides have connected electrical pathways. Net textured sulfides not so much, and even less so disseminated sulfides.
Using a magnetic field, VTEM induces current flow in conductive rock and then measures the strength of that induced signal. Like all measurements based on inference, VTEM needs a "contrast". Thatis, inferences about conductive, potential ore bodies are based on a differential conductivity from the surrounding country rock. If the country rock is equally conductive, VTEM becomes useless. Where this contrast is small, VTEM has a limited depth of penetration. This is the problem at Grasset.
The good news is that the country rock at the new find, 7 km north of Grasset, is less conductive. But not so much so that airborne VTEM will be useful; the new zone is at about 500 meters depth, while the depth of investigation is only about 300 meters. But 300 meters is good enough for downhole EM surveys.
So, rather than having an immediate wide area map of VTEM anomalies, BAR will need to progress hole by hole, employing downhole EM from each borehole to incrementally construct a map, on a point by point basis. This will take a bit longer, and care will need to be exercised with new holes selected only after the survey from the previous hole is processed. But the important point is that this is NOT blind exploration.
Remember that this EM technique is only good for massive sulfides. It was not of any use for the net-textured sulfides present at Grasset.
Chaulkdust wrote: Yes Mr. C you may still come. We will just duct tape you to a chair so you don’t hurt anyone! You are correct about the Ni price. I believe in certain parts of the world they are paying up to a $2 premium per pound for class 1 nickel. Unfortunately, the LME was supposed to be looking into a 2 tier price a year ago, but I bet the big Laterite boys are putting up a struggle to keep it like it is. Also, noticed that the inventory level has now stabilized around the 200,000 level for some unknown reason? Probably an effort by some entity to stop the steady slide we have seen for the last year and prop up the LME. Absolutely no correlation between price and inventory levels anymore, just rigged markets like everywhere else. Mother nature will hopefully prevail and the price will attain it’s true level.
Yep, limited funds, time to put away the shotgun approach looking for a new resource away and get the cannon out for a direct hit. Now that AV is back in the game perhaps he would like to join the parade as well. In the meantime, hoping that we get some positive drill results from Grasset. I can’t believe that DW said we would see results in 2 weeks in his VRIC video. Maybe he meant 2 weeks to get the results back and then a few more weeks before anything gets released. BAR has not been good at hitting targets or stating things clearly. However it plays out, I’m sure we will hear something prior to the PDAC.
Anyone going to the PDAC? They have an interesting Nickel session on March 5th with several Nickel explorers presenting including BAR (10am- 11:30am).