Exploration thoughts ... In case it helps ... someone sent this thought to me ... a nice summary ...
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The Company are starting to lift their skirt a little on the exploration side. This has two angles, 1) sulphides under the oxide cap, and 2) repeating deposits within the regional structure controls.
Below is just looking at the sulphides under the oxide cap. I guess this picture paints their beliefs pretty well :
It's worth noting that when the oxide deposit was drilled a number of holes finished in good grade sulphide mineralisation under the cap, and over good widths ... a selection of these results:
- ATR-78: 26 m grading 0.97% total copper starting from a downhole depth of 178 Final email. The Company are starting to lift their skirt a little on the exploration side. As said this has two angles, 1) sulphides under the oxide cap, and 2) repeating deposits within the regional structure controls.
Below is just looking at the sulphides under the oxide cap. You can read the full annoucement below. But I guess this picture paints their beliefs pretty well :
It's worth noting (as explaned below) that when the oxide deposit was drilled a number of holes finished in good grade sulphide mineralisation under the cap, and over good widths ... a selection of these results:
- ATR-78: 26 m grading 0.97% total copper starting from a downhole depth of 178 m
- ATR-79: 16 m grading 1.40% total copper starting from a downhole depth of 122 m
- ATR-82: 44 m grading 1.05% total copper starting from a downhole depth of 206 m
- ATR-84: 26 m grading 0.84% total copper starting from a downhole depth of 148 m
- ATR-85: 36 m grading 1.68% total copper starting from a downhole depth of 84 m
- ATR-93: 38 m grading 1.04% total copper starting from a downhole depth of 180 m
- ATR-94: 48 m grading 1.30% total copper starting from a downhole depth of 78 m
... as said all these holes finished in sulphide mineralisation, and are open to depth.
The mag anomaly was logged directly against the Magnetic Susceptibility of the sulphide mineralisation in the holes above. So understandably due to 1) the direct tie-in with the drill hole results, 2) the sharpness of the anomaly data, and 3) the anomly being exactly where is was modelled to be ... these results have generated a lot of excitement.
What is the value to this ? Nothing yet. But if we have 500m tonnes of sulphides running the same grade as the oxides, along with the low strip ratio shown in the PEA, the value would be several times the Company's current market cap.
This is the first cab off the rank for the exploration. I expect in the next month or so the Company will start to explain that they believe Marimaca is possibly just the first of a cluster of similar deposits in their land package.
I think the stock is cheap just off the back of the PEA results ... if any of the exploration comes in it's massive upside.