I was blown away by the hugely impressive PR on the Tesbasquena project (link). In the 200 days since the project was acquired, they've been sprinting out of the blocks and collected an almost unbelievable 18 samples. That exploration office mush be a hive of activity, especially now that they'll be drilling a humongous phase 1 drill program (2 holes for 500m) on their FULLY PERMITTED MINE.
We all know, it is important to take baby steps and not rush into things, quality over quantity. Like fine wine, we all know that you can't rush exploration. I mean, look at those amateurs at Silvercrest, rushing around being vampire-like (sampling all veins), drilling and all of that useless crap, I mean where where did it get them (link).
Ohh, but they don't have a FULLY PERMITTED MINE! So screw you Eric..
As Alain Benule Laputain tells us:
Yeah, the deepest samples were the best....bitches, none of that high-grade near surface crap.
Location, hmmm, that number refers to the level and normally uses the elevation (in meters - metric yards for the Yanks) above sea-level, so a bigger number is higher....
So, the half-kilo stuff is at the surface, but the (3) samples from the lowest working, the 2050 and 2059 levels did return some >200 g/t samples, so that's ok, but when you look at the number of samples/level, typically 2-3, you suddenly see that they mine is probably very small (90m vertical extent and probably something similar horizontally), but that doesn't matter as it is FULLY PERMITTED!!!
So all historic exploration has focused on the oxide zone? Just doing a quick literature search found thisI can across this (link)
That is quite a bit of info and 15 holes have been drilled, I would expect that a couple would have explored below the oxide zone, maybe you should ask Peñoles for the drilling data?
I do have to applaud you for supporting local assay labs, trudging those 18 samples the arduous ~130km to the Laboratorio Metalurgico Courtade, in San Luis Potosi, when you could have just dropped them off at either of the two international ISO 9001 certified prep labs that are just 40km away in the city Zacatecas?
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| Why do things the easy way.... |
I would like you to take a look at Marathon Gold as they will soon release a PEA. Lots of drilling/assays done over many moons. Do you think they will become a mine??
ReplyDeleteMarathon have published several technical reports in the past. Their most recent was in late 2017. On paper they show a decent mineable resource but it's not clear how much is open pit and how much is underground. Overall they're trying to string together a group of deposits to make a mine. Their resource tonnes & grade estimates look encouraging...similar to Atlantic Gold. I know several of the directors but have not spoken with them for many years. They are honest and knowledgeable, and that would be my first requirement before deciding to invest. But that doesn't put gold in the ground, and only time will tell if they are economic. A PEA is a useful document to encourage further investment, but it's a long way from production. I would not expect production for at least 3 to 5 years, assuming all the necessary requirements were met.
DeleteThere is no standard nomenclature for levels in underground mines. At the Williams Mine, in Hemlo the lowest levels had the highest numbers. Same at Kidd. I've worked at mines that use sea level as a datum point, so lowest levels would have lowest numbers. However that falls apart for mines that go below sea level. I've worked in a couple like that, but no one uses negative numbers as far as I'm aware.
ReplyDeleteI know the area very well, and the standard naming convention is either:
Delete1. Elevation
2. Depth (in meters) below surface
So, those level numbers are elevation, measured by the surveyor from the shaft RL.
Where did you get those elevations? I couldn't find it on their website.
DeleteThe table was from the press release, and as I know the property and the area very well, I know the what the level values refer to and where they come from
DeleteHa! I missed it!
DeleteHey, has got to be good, the 'mine' has ore in Chilitos fm! Yea, getting cold feet for MX. At least they haven't mentioned any special assays required to report numbers,...
ReplyDeleteahh the Chilitos formation. It is a good host rock for many epithermal deposits in mexico, but it took them over a month to drill a ~220m deep hole (<10m advance a day, you would expect drilling to progress at ~20-30 per 12 hour shift).
DeleteLooking at the section, it would be interesting to see if hole 2 hits anything as it appears to have been drilled parallel to the down-dip continuation of the vein.
I don;t expect to see any results soon.....