 |
| Geronimo... |
and nor was I, but I've updated the Leapfrog model with the new data (link) so you can see everything in 3D.
The new drilling was disappointing. It appears to severely restrict the size of the high-grade (>1% CuEq) zone to an area that is ~500m long by 150-250m wide.
 |
| Quite small |
 |
| deep.. |
The good stuff starts at around 250m depth, and the stuff above is quite poor, generally less than 0.25% CuEq, which isn't something you want to be mining and 1000+ meter holes are expensive to drill.
Hole 102 is easy to explain, it cut the periphery of the system and got a bit of copper and gold, and helps define the NW limits to the system.
However, Hole 98 was disappointing, it was planned to go through the guts of the system below hole 85 and hit not much at all, just a narrow deep zone of decent mineralization surrounded by low grade. We could explain it as clipping the SE edge of the system, but that is an impressive drop in grades over such a short distance, especially as there doesn't appear to be a fault or change in rock type.
Could it be that there is a preferred orientation to the mineralization?
There is some evidence in the core photos to support this, but I have to admit, the photos aren't very sexy.
 |
| grey.... |
I also did a woeful calculation of doom (TM) to see potentially how much metal the system could contain.
If it was closer to surface, I think bigger companies would be having a look, but at depth, at those grades, probably just going to be ignored.
- 106 - I'm going to guess that it will hit a 200-300m wide zone of low grade <0.5% CuEq).
- 107 - this is probably drilling the pyrite halo and will hit grades that are a bit less that 98 (<0.25% CuEq).
- 108 - similar to 106, hit some low-grade and not much else
- 109 - this may be aiming for the deep zone hit by holes 62 and 93. I'll have a stab that it will hit a >1% CuEq zone from ~550m to ~950m (similar to hole 85) as it is an infill hole.
- 110 - hit grades middling grades - probably a zone of >0.5% CuEq from 500m depth (lower grade than hit in hole 93) as you move away from the core of the system.
Maybe GT Gold will be lucky and find another couple more porphyries, but my overall feeling is that we've seen the best from Saddle North.
Thanks a lot for putting this into Leapfrog, enormously helpful! I'm not sure they have cut across the orientation of the mineralization, it may actually just be shaped like this. Here is a crude rotation through the model showing just how narrow and short the potentially "paying" zone is at this point: http://cdn.ceo.ca/1e0601r-SaddleNorth.gif
ReplyDeleteI was grasping at straws, the massive deviation of a couple of the holes make the interp a bit challenging, but I was intrigued by the significant change in grade between the NW and SW azi holes.
DeleteThe animation looks cool, i'm guessing that a Leapfrog master created it....
Ridley has been generally available for sale for at least 15 years. No one has stepped up to buy it...at least not for the amount the government presumably wants for it.
ReplyDeleteThis is an interesting article.
ReplyDelete$1.3 billion? Not a hope! The cash flow doesn't justify that kind of price.
https://www.theglobeandmail.com/business/article-auditor-general-finds-significant-deficiences-at-ridley-terminals/
This comment has been removed by a blog administrator.
ReplyDeleteThat $547,000 has brackets around it. That means it's a credit, not an expense. A look back at the second quarter shows they over expensed this category. I suspect legal fees for the merger were the reason but that's just a guess.
ReplyDeleteYou suddenly realize that even the mining pump and dump merchants are amateurs compared to those twats.
ReplyDeleteAngry Geo could you please do a Blog post on Sun Metals? They hit great results but seem under valued still?? Comments are appreciated!!
ReplyDeleteAngry Geo could you please do a Blog post on Metallis Resources. This will not make you angry. Just a group of exploration professionals going about their business. Legit project in the GT.
ReplyDelete