Click here to recieve updates directly to you e-mail

Tuesday, December 18, 2018

GT Gold - more holes in the (North) Saddle

We've had a new PR from GT Gold (link). Some interesting results, but the market didn't like them.


Good News

  • The >0.5% CuEq mineralization appears to come to surface (hole TTD108)
The Bad News
  • High-grade mineralization restricted to a specific zone (the Stock-work zone)
  • This zone appears to be discontinuous (i.e. it doesn't seem to join up well between drill-holes), and the best zone is deep
Overall, I don't see, from the data presented, much evidence that the North Saddle zone will grow into something huge. The best mineralization appears to be inconsistent, with the best intercepts at depth.

In More detail....

In my last post I was partially correct about a preferred 'trend' in the mineralization. In fact, on the sections provided in this PR we can see that virtually all of the good mineralization is found in a specific 'unit' - what is labelled as the intense stockwork zone.

I've highlighted on the sections that accompanied the PR.

You can clearly see why hole TTD098 missed. It was drilled parallel to the stockworks just clipped it. Imaging if this hole had been drilled a degree steeper, it would have hit >300m @ >1% CuEq. The market would have liked that.

From the sections I've tried to model this zone in 3D (file here - link).

We can see that the stockwork zone is:
  • Narrow (~max thickenss 250m)
  • inconsistent (forms separate, probably discrete zones)
  • Steeply dipping to the SW
Unfortunately, for me, I can't see how the Stockwork zone is going to get much bigger.

  • On section 5620 (the most northwesterly section) the zone is very narrow and runs along the fault.
  • On section 5830 (the most southeasterly section), the stockwork zone again is very small and deep
  • Only on section 5740 do we get 2 zones
    • upper narrow zone (hole TTD106 and 108 - approx 100m wide) that continues to surface
    • lower deep zone (TTD093) that starts at 400-450m depth, that is ~200m wide
We have to remember these section are ~160m apart, which makes that stockwork zone quite small.

I'm certain that hole TTD109 will get something great (probably 400m @ >0.75 g/t Au and 0.5% Cu starting from 700m depth), but so what. All it will be doing is confirming what was hit in hole TTD093, it won't tell us anything new, we already know that they have some moderate mineralization at depth. To be special and make this project, hole 109 need to get something special.


  1. Just a guess...they may have realized the open pit potential is limited, but that there may be underground potential beneath a small starter pit. Possibly a block cave zone??? The nearby Red Chris Mine is a very deep porphyry with a high grade core. They have plans to go underground someday.

    1. Red Chris of course has a very large open pit resource because there is a late stage phyllic overprint that transported Au-Cu extensively (400m x 1.4km) above the main potassic zone. This is the basis of the open pit at Red Chris, which it wouldn't have without the mineralized phyllic zone. North Saddle doesn't appear to have it.

  2. This comment has been removed by the author.

  3. Apparently they hit a 2nd vein as they drilled deeper. Visible gold in core. Assays in January and I would expect a financing then too.

    1. This comment has been removed by the author.

    2. Sector sure needs a feel good story. Maybe WHN can deliver the goods. Sure hope so.