tag:blogger.com,1999:blog-6272793377504221569.post2117431191747309079..comments2024-02-05T00:42:53.074-08:00Comments on Angry Geologist: Timok - the Lower zone - part IIThe Angry Geologisthttp://www.blogger.com/profile/04955645007432969022noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-6272793377504221569.post-65367943143597943512018-06-27T09:11:00.354-07:002018-06-27T09:11:00.354-07:00I'll remodel my project using the SRK cutoffs ...I'll remodel my project using the SRK cutoffs and ranges to see how close I can get.The Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-59427443725266713682018-06-27T09:08:11.485-07:002018-06-27T09:08:11.485-07:00Darn, slightly out! I'll have a lookDarn, slightly out! I'll have a lookThe Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-10157477208078434432018-06-27T06:30:43.838-07:002018-06-27T06:30:43.838-07:00...and we got 1.1 billion tonnes grading 1.11% CuE......and we got 1.1 billion tonnes grading 1.11% CuEq. Would love to hear your comments, AG.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-77181901219561436872018-04-13T18:29:05.365-07:002018-04-13T18:29:05.365-07:00Exactly. Chelopech concentrates are similar to Tim...Exactly. Chelopech concentrates are similar to Timok. It's enargite.Webaheadhttps://www.blogger.com/profile/15692864793587270625noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-37385421345220186862018-04-11T18:37:48.130-07:002018-04-11T18:37:48.130-07:00I forgot that Freeport was involved.I forgot that Freeport was involved.The Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-19561779058220439132018-04-11T18:30:20.190-07:002018-04-11T18:30:20.190-07:00Hello Tom,
That was me being a big crude with the...Hello Tom,<br /><br />That was me being a big crude with the grade shells, I've changed from 0.25% CuEq steps to 0.2% CuEq steps (so 0.2, 0.4 0.6 etc) and using a 0.8%CuEq cut-off I get 583Mt @ 1.05%CuEq<br /><br />The Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-11320682039404982262018-04-11T12:08:20.704-07:002018-04-11T12:08:20.704-07:00In that case it may be that Freeport is funding th...In that case it may be that Freeport is funding the deep zone exploration in order to value their resource.Bill Mracekhttps://www.blogger.com/profile/16406350978140431625noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-20540678512393432572018-04-11T12:06:16.022-07:002018-04-11T12:06:16.022-07:00They will maybe look at producing two concentrates...They will maybe look at producing two concentrates...one high and one lower in As. Standard smelter terms usually have no penalty for less than 0.2%, then add $2.50/dmt of concentrate for every 0.1% increase. But few mines are in the 1% range, and even fewer that would produce several hundred thousand tonnes per year. I only know of a couple of smelters that take high As con. One is in Canada (Horne) and one owned by Dundee in Namibia. (Tsumeb) It was originally built to handle ore from the magnificant Tsumeb mine, but the mine has been closed for several decades and the smelter lives on custom feed, including high As material from somewhere in Europe. I believe the Tsumeb smelter makes arsenic trioxide for sale. I've visited the area but not the smelter.Bill Mracekhttps://www.blogger.com/profile/16406350978140431625noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-16622265008641407112018-04-11T09:42:11.002-07:002018-04-11T09:42:11.002-07:00I'm a bit surprised at this resource wag, sugg...I'm a bit surprised at this resource wag, suggests ~1 billion tonnes @ 1% CuEq (that's the minimum hurdle rate for $3/lb copper in brownfield block cave according to Macquarie chart posted earlier).Tom Szabohttps://www.blogger.com/profile/14556411767867670182noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-36753716008769677942018-04-11T09:33:40.863-07:002018-04-11T09:33:40.863-07:00Freeport is already the JV partner on the Lower Zo...Freeport is already the JV partner on the Lower Zone. It will own 54% after the DFS on Upper Zone is completed next year. I don't see Freeport leaving the JV, or Nevsun diluting its ultimate 46% interest any further (Upper Zone infrastructure should get dual use value when the Lower Zone is developed).Tom Szabohttps://www.blogger.com/profile/14556411767867670182noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-13426073567735474932018-04-10T17:26:14.432-07:002018-04-10T17:26:14.432-07:00Nevsun were actively seeking partners a few years ...Nevsun were actively seeking partners a few years ago. It amounted to a lot of tire kicking but that's about all. KGHM are going through another spasm right now...I hear they fired all their executive group. They have not done well with their acquisitions...except for Robinson, which has been a cash cow for the last dozen or so years. But it only has a couple of years left.Bill Mracekhttps://www.blogger.com/profile/16406350978140431625noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-22744699276777797612018-04-10T14:53:11.876-07:002018-04-10T14:53:11.876-07:00I would guess that in a few years, some major will...I would guess that in a few years, some major will start sniffing around, as Lower Timok could potentially add annual production >100,000 Tonnes of Cu, and that would be very useful for those companies growth projections. Especially a mid-tier like Newcrest or even KGHM.The Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-36275322619343436852018-04-10T12:57:50.863-07:002018-04-10T12:57:50.863-07:00Exactly! Why spend anything when the discounted v...Exactly! Why spend anything when the discounted value of this resource is very low, assuming no mining for at least 10 years? Also, it diffuses their focus at a time when they need to get the upper zone ready to go.Bill Mracekhttps://www.blogger.com/profile/16406350978140431625noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-17825553260334759552018-04-10T12:21:04.393-07:002018-04-10T12:21:04.393-07:00Resolution - oh wait, it isn't producing, just...Resolution - oh wait, it isn't producing, just 10 years away....<br /><br />I was surprised that a few angle holes weren't drilled, just to get an idea of any sub-vertical faults/structures that could potentially impact block caving. Maybe the reason they didn't is that they know they'll need a partner to develop it and for understandable reasons, are focusing on the upper zone.The Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-75280283525945911752018-04-10T12:03:46.183-07:002018-04-10T12:03:46.183-07:00it will be interesting what (financial) hit they g...it will be interesting what (financial) hit they get for the high As content of the Upper Timok ores, as according to the March 28th PR, the concentrate will be grading >1% As.The Angry Geologisthttps://www.blogger.com/profile/04955645007432969022noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-39454540439735854152018-04-10T11:48:41.124-07:002018-04-10T11:48:41.124-07:00Those drill holes are becoming very long and expen...Those drill holes are becoming very long and expensive. I suspect they will wait until the get underground before spending a lot of money on it. From a mining perspective 2,000 meters is getting deep, particularly if insitu rock stress is high. Grades are "iffy" for most mining types. Block cave would work if the geometry was favourable, but again...stress levels become important at depth. I don't know of any block cave mines operating at that depth.Bill Mracekhttps://www.blogger.com/profile/16406350978140431625noreply@blogger.comtag:blogger.com,1999:blog-6272793377504221569.post-17706300301355214292018-04-09T19:31:52.730-07:002018-04-09T19:31:52.730-07:00Just for the record here we are talking about Nevs...Just for the record here we are talking about Nevsun Resources Ltd. - NSU.t. Timok is in Serbia. Chief frommage says "This is a high-grade, high return, fully executable copper project in a supportive jurisdiction." We have, so far, 27 million tonnes at 3.3% copper and 2.1 grams per tonne gold using a price of $3.00 per pound copper and $1300 per ounce gold. <br /><br />Acehttps://www.blogger.com/profile/17786196655918237161noreply@blogger.com