ENT 0.00% 2.1¢ enterprise metals limited

soem comments on selected ent projects

  1. 1,295 Posts.
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    As forshadowed last week, I took the time to look at the ENT projects in more detail.

    At Revere much of the most prospective ground has not been drilled because the tenements have not yet been granted. The ground that was drilled is pretty well devoid of volcanics, a negative feature that I have commented on before, though Golden King was a nice target based on geochemsity and IP. ENT have indicated that they intend to focus on the most prospective gound, containing volcanic rocks, when the tenements are granted in 2010. Revere cannot therefore be regarded as having been adequetly tested.

    Wattagee is an attractive gold project based on geology, structure and presence of large historic gold mines in the region e.g. Big Bell. Historic RC drilling reported 4 m at 17.9g/t gold which is a good result and there are some nice IP targets to test. In my view it is a good target for both placer and Big Bell style primary gold with potential to yield positive results.

    I like the Yalgoo uranium project as uranium image shows a wide (about 7km) uranium rich channel draining from a "hot" granite. The grey scale aeromagnetic image, and the digital terrain data, suggests that this uranium rich channel narrows considerably and drains southwards, over greenstones, through the ENT tenements. It's a nice target for calcrete hosted uranium like Yeleerie.

    The massive hematite at Sylvania, whilst a bit remote is only 70 km south of the the Newman iron mine. At the end of the day it will depend on tonnes as the grade of the sampled deposit is good (60% Fe). Similarly, the Earheedy project, which is even more remote, will depend on even bigger tonnes. Looking at the size of the postulated CID targets getting big tonnes might be possible, but its a conceptual target and more work is needed to establish whether the project has any commercial value.

    My personal view is that the Eucla proejct is the jewel in ENT's crown. I discussed this in previous posts and will not repeat what I said again, save that some parts of the the ground gravity profiles suggests something quite dense is causing the gravity anomaly and I think that this reduces the possiblity that the targets reflect ultramafic plugs and upgrades the chance that they reflect magnetite of pyrrhotite mineralization. Such mineralization could host other metals e.g. IOGC deposits.

    All the above is a personal view. The data was taken from the presentation on ENT's web site and there may be unpublished factors which I am not aware of that either upgrades or downgrades the above comments. I will top up my ENT holding on weakness. I currently own 110,000 shares which I will not sell until the Eucla targets are drilled.

    I do not advise anyone to buy shares based on the basis of the above comments. All the projects are speculative and none of them may reflect commercial mineralization and you might lose ALL your money. I am not an accredited expert in either base metal, gold, iron or uranium exploration. Please do your own research and form your own opinion.

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