Growth of Havieron

[Bamps21]

This was something I wasn’t going to post but have been urged to do.
The following calculations are my own thoughts on the minimum sizes and I really don’t want people relying on these to make an investment decision.
There are of course a lot of things that will change my valuation over time and anything over 12-15 years could alter these figures.
Over the last 12 months the ore body has grown significantly so these figures have a great possibility of incremental rises.

I doubt I will ever publish my maximum calculations it will cause too much friction.

[Bamps21]

Paddy posted this on Twitter when I sent him my calculations
https://twitter.com/paddygall1/status/1 ... v4rborAAAA

When you look at that one chap’s qualifications, he had the same as me before I retired.

[Bamps21]

We’ve been hearing from professional people for sometime now about how big this ore body could be
Alistair Clayton said possibly 2 years ago how this could be a 20moz ore body.
Shaun has stated this to be 20m oz ore body
Callum has stated this could be a 20moz orebody.

Well I’ve been saying for sometime now how big it is and shown my calcs to prove it.
I’ve looked at it again and produced what I think is a bare minimum of what to expect.
A lot of things could change this valuation ie dilution, bismuth, extraction methods,

This is not investment advice do your own research.

[speedymeadie]

Hi Bamps. You say " my max calculations would cause too much friction". Go on, rub away. As a starter is it nearer to 30mill equ? ATB Speedy

[Bamps21]

Hi Speedie
Way out
Friction by the fudsters not from decent folk

[speedymeadie]

Hi Bamps. Way out? Too little or too much? ATB Speedy

[Bamps21]

Hi Speedie

[Bamps21]

When you read what Shaun says about Telfer in Dips notes on page 2 here, he states that Telfer was a 20moz ore body and they’ve mined out some 13moz.
My calculations posted on here I would expect this to be a mined out sum and I believe that figure to be exceeded in time.
That’s a 19m oz not equivalent.

My maximum calculations (which I’m not posting) are way in excess of this sum.
Why is this?
1 the size of the ore body has grown over the last 12 months to include alteration zones and other growth zones.
2 the Eastern Breccia grades I’m expecting the average to rise from 0.75g/t, hard to say at the moment 1,1.5,2g/t could be but would have an exponential effect.
3 the Northern Breccia and Pod grades have been rising and may lift the average grades in the top ovoid to nearer 1g/t
4 the depth of the deposit may keep going as expected, my calcs go down to 1900m of ore.
5 growth zones ie Havieron north, Meco.
6 other credits ie molyb, cobalt, nickel, tellurium, tungsten (there all there but quantities questionable)

People have said to me 2 years ago this could get to 50mozeq.
Well with different scenarios
30mozeq is a great possibility
40mozeq is a distinct possibility
50mozeq is a maybe a possibility
70mozeq ?

[Bamps21]

2 drills HAD006 log and historical drill HAC9503
HAD006 is a Ggp drill pre NCM
The cobalt ppm can be seen to be fairly high consistently throughout.
A viable % to extract would be 0.05% some here are upto 1% adding 1oz aueq.
Extraction is a difficult issue with copper ores but easier with nickel ores.

Hac9503 was drilled to the east at an angle towards the ore body but didn’t reach it but they found Molyb, cobalt and nickel out to the east in alteration.

Lack of information on these credits make them difficult to put into boundaries for estimating purposes.

[Bamps21]

A sample of other credits

[speedymeadie]

Hi Bamps. Many thanks for answering my queries regarding estimated size. This is what an investor would call a multi bagger. ATB Speedy

[Bamps21]

I will try to explain the last results rather than what to expect in tomorrow’s.
The plan attached confused me at first but coupled with the sections begins to make it a bit clearer.
Start off with 108 and 55
These 2 drills and multiple wedges have been expanding the Western Front zones 1 to 4 as I’ve posted earlier (I will update that slide later)
They both leave this area and go through the Northern Breccia and then off out into the area above the Eastern breccia:-
108 has targeted the area from 750m of ore down to 850m and not encountered mineralisation.
55W10 and W11 seem to be targeting 900-1000m still in assay
I have a query about W10 which is shown deeper and longer than W11 but total distance in the logs is a lot shorter, that length would not reach the EB.

98W2
Seems to be targeting the same area as 55
104W2 also targeted this zone and hit the top of the EB at 900-1000m.

These drills have pushed the boundaries another 100m outside the known size as can be seen on that plan in central north side.

In conclusion on the last results the top of the ore body doesn’t look like it is higher than 900m which was my original assumption.
The boundaries are still very variable as it appears with that bulge in the centre.

Drill 153 and W1
Appears to be targeting what they called the gap zone and I think this plan is the first glimpse of this “gap”

[Bamps21]

the red outline is the original 650x350 size

[Bamps21]

I’m showing here where these drills are in relation to the mining zone Western front before they leave and enter the Northern Zone

[Bamps21]

[Bamps21]

[Bamps21]

The gap zone in the 2nd image with drill 153 going through it.
The later image shows the gap closed and 153W1 expanding it SE

[Bamps21]

[Bamps21]

[Bamps21]

From these series of plans taken from the RNS drilling results there’s 2 things to look out for apart from the size growing :-
What’s happening to the sulphide ring and the position of the Dyke

The sulphide ring in the early stages can be seen to be growing then in the last few images it’s concentrated only in the south.
This is where the sulphide intrusion is coming from in the south this is at about 1,000m depth of ore the ring is fully formed in the top 350m.
NCM have stated that it doesn’t continue downwards as the latest information suggests. Future drilling will find the continuation though , it has to come from further down just haven’t found it yet.
By April 22 you can see the sulphides in the south only but start curving round the Dyke has moved to the east. This is at around 1,000m depth of ore.
The ore body has expanded to the SE maybe as much as 300m and the Dyke is following it.
The Dyke is not vertical and is one of the reasons why a Sub level caving mining method was dropped, it wouldn’t work in this situation