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Miagi - I have to say it was Porvenir news which caused me to have a "moment|"! If we hadn't done a 'Porvenir' I'd still be *****ing and moaning about lack of progress @ Alpala! Still can't get over how enthusiastic NM was in the audio clip. He needs to do more! Z
Evening Col Drake. I'll be the first to put my hand up and admit to have worn the badge: "fatigued and impatient". I think (then) I was speaking on behalf of quite a few PI's in this stock. I think if everyone was honest with themselves - PTSD was setting in! In my defence, it was all about Alpala though. And then this happened: https://www.brrmedia.co.uk/broadcasts/5f759c98c4d0076f2b93aaab/solgold-pre-feasibility-update-and-regional-exploration NEVER...have I heard NM so agitated (In a good way). That is when I sat up and realised the "Sleeping Giant" had awakened. And then this: https://www.canninghouse.org/canning-insights/the-future-of-latin-american-mining/locked-content-1 The video conference with the Minister for Mining (Ecuador), @ minute 1:28, where Jason Ward literally tells the world: "copper is literally leaching out of the ground..." Where he also explains why (when questioned by the presenter) it took so long for solg to progress Alpala. Solg has turned a corner, and around that corner is the biggest ray of sunshine you have ever seen. I think worrying about whether Solg has enough money to drill for months @ Porvenir to firm this find up, is never going to be an issue. Funding will be guaranteed now, to be sure. Porvenir will transform Solg into a 24carat miner (with or without a JV) and as you say Colonel - selling now would be financial suicide. What a great turnaround.....and long(very long) overdue. GLA Z
The rns says stockwork totals from 290-450 are between 2 and 3.5% which would be green. Generally lower than the 4% min for a core. This isn’t a problem though not even alpala had solid core grades and green is still plenty suitable for an MRE contribution. Also as I mentions porvenir looks more quartz like so maybe higher gold. A double core at this location with continuous decent to good mineralisation is still looking tier 1.
I am going for a top 15 drill of all time when the assays come around bonfire night !
Miagi you need to work on your volume calcs 4/3 pi r3 and density of 3000kg/m3 you need a radius of 322m to give you 420mT. Still means on hole 1 we are already may be looking at something slightly bigger than Alpala. Plus the ground soil anomolies extend over nearly 1700m in length so this will be huge however you look at it.
Ice, are you getting that direct from the visuals? The RNS topline numbers seem to be consistent with a single core: to 491m up to 6% chalco with up to 11.7%veins. From 419-619m up to 3% chalco with up to 4.7% veins.
I've been sat with a green yellow and red coloured pencil trying to do a stockwork analyst using the same method as that used for alpala. It's interesting that, at 620m they are hitting over 4% stockwork which would equate to the core of alpala. From 15m to around 150m you would have a red zone, grades comparable to alpala at its best, this then morphs to a yellow some then a period of lighter grade green from 300-450m before going back to yellow, higher grade again at depth. Like alpala which has 3 main cores, porvenir looks like it has at least two in this location. It will be interesting to see whether drill 2 gives one continuous core. Regardless we have a shallow and deeper body for porvenir with the shallow being alpala at its best.
13th August 2020 drilling was at 91 metres. Drilling operations underway at La Hueca Project utilising one man-portable drill rig. Initial drill hole LHD-20-001 at current depth of 91m. This hole is designed to test depth extent of outcropping porphyry copper-gold-molybdenum mineralisation at Santos-Lindero Zone, La Hueca Target 6.
The highest priority ‘’Target 6’’ is defined by a 2km by 1km north-northeast trending dioritic intrusive complex with coincident Cu and Cu/Zn soil geochemistry, with a distinct central high priority drill target area at Santos-Lindero where outcropping porphyry style B-type quartz veins occur within the “Kfs Diorite”, which lies coincident with Cu, Mo, Cu/Zn, and Mo/Mn soil geochemical anomalies occurring at confluence of primary north-northeast and secondary east-west regional structures. At Santos-Lindero the Kfs Diorite hosts B-type quartz – chalcopyrite ± bornite veins associated with secondary biotite hydrothermal alteration and zones of >1% Cpy/Py ratio, within a halo zone (500m x 400m) of Sericite-Epidote-Chlorite hydrothermal alteration. This geological setting is consistent with that of a preserved and mineralised porphyry Cu-Au-Mo system at depth. Integration of existing datasets with the 3D geochemical modelling performed by Fathom GeophysicsTM further supports this, having determined the potential for mineralisation to extend to approximately 500m below surface.
Alpala core - 420Mt at 1.5%Cueq for 6.2Mt Cu. Using 3000kg/m3 for igneous rock equates to a sphere with radius 211m. Porve core - 55 deg angle, assuming 700m mineralisation in total equates to ~350m radius (assuming pad is at centre - appears to be from the map). Assume mineralisation depth in vertical drill through core is also 700m (broad assumption I know) gives a sphere (for ease of calcs) with redius 350m. That gives an ore body of 1150Mt. At 2% Cueq, that equates to 23Mt Cueq - 4 times the size of Alpala give or take. All very rough and ready, but if the wind continues in our direction, this all looks very possible, and at surface too. If the grades exceed that then it's a linear scale all the way up to heaven.
Have to agree earthling - will get a small additional funding in 6 months time
At Alpala when the where using just the small rigs cost pre meter for drilling and assay ran at $500 to $800 so for 50,000m it would be a spend of $25 to $40m plus the geo physics, study costs and general manpower. So the next 15 months at Porvenir will cost between $40 and $55m plus whatever they spend elsewhere on the regional program. The $40m they raised will see us through at least the next 6 to 9 months - no worries.
This link below is to an article by the company who supplies the drill rig - Hubbard - you get a good idea of what is involved get the rigs into place in the Ecuadorean jungle.