1. Most Discussed
  2. Gainers & Losers
ADU 71.5¢

striker's results is good news for adu holders

  1. MrGann

    1,771 Posts.

    Although Adamus is not really focused on Bollinger at the moment.Just some indirect news via their adjoining holding to Striker Resources. Adamus's Bollinger tenement is 400m from Seppelt 2.

    Seppelt 2 samples return strong diamond grades

    Brad Ricks

    Wednesday, September 17, 2003
    STRIKER Resources has discovered 219 carats of diamonds, including large stones in excess of 3.36ct and 17 greater than 1ct, during first pass sorting of concentrates from a recent 253 tonne sample from the Seppelt 2 kimberlite.

    Managing director Clayton Dodd said processing of the bulk samples from Seppelt 2 was continuing with the grade of the kimberlite on track to be around 2ct per tonne.

    "The valuation parcel now exceeds 3000cts," he said.

    Also holding strong promise for the company is a newly found 200m long kimberlite dyke extension from Seppelt 2.

    Dodd said the extension was discovered during trenching of gravity anomalies in close proximity to Seppelt 2.

    "Drilling will be required to determine the kimberlite tonnage at depth forming part of the Seppelt 2 evaluation," he said.

    "A drilling program is scheduled to commence this month aimed at better defining the geometry of the pipe at depth.

    "This information, along with bulk sample results and diamond valuations, will be used in broad scoping studies examining the potential for openpit and underground mining development."

    Trenching at the Seppelt 5 anomaly, 2km north of Seppelt 2, has resulted in a 600m kimberlite dyke system being identified and samples of the kimberlite have been collected for assessment of diamond content.

    In other news for Striker, its joint venture partners De Beers is set to begin diamond drilling the E80/1590 tenement, part of the Seppelt Range diamond project between Striker, De Beers and AKD.

    Earlier this year De Beers said there was strong evidence that proximal kimberlitic sources, responsible for the release of numerous kimberlitic indicator mineral grains, were contained within AKD's 80/1590 tenement.

    De Beers plans to drill up to eight geophysical targets depending on the results of a geological ground investigation currently underway.

    De Beers has the right to earn a 50.1% stake in this tenement from AKD and Striker.

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.