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Have you read it pawn ? It is a huge amount of information on it and where I picked up the historical drilling maps and intersects all clearly on there. https://twitter.com/luckyorange1812/status/1418892087588790273
States clearly in the report what they should do next and what they are doing is what the plan said they should do to prove up the 2 million oz .
Some good stuff in there but need a lot of time to read it and it can get a little tedious as it is so in depth.
Take it you mean this one lucky?
https://contango-holdings-plc.co.uk/wp-content/uploads/2021/03/FINAL-NI-43-101-GARALO-Project.-Technical-Report.-March-15.-2021.pdf
Have never got through it all. Reading again now. Impressive and detailed report though. Is this the one our new poster wants us to discount? Seems unlikely many will imo, too professional and well put together.
Between that and reading the gold project update RNS,s since Dec tempted to take a few more before the geophysics results come in just worried the mm.s may find 11 trades in a week too excitable.
ATB,
pawn
Hi Luckyorange,
I've been looking at that picture you posted on twitter. Still getting my head around this mining malarkey. On the G1AD003. I notice that two of them say: "including 1m @ 20.2 g/t Au" and "also 1m @ 43 g/t Au".
Does this mean that they drilled to a depth of only 1 metre and found 20 grams and 43 grams of gold per tonne of rock?
1m within the drill depth that they point out TP, so it could be 1m at a depth of X.
Thanks, and apologies I'm still not sure. So they found 20 grams and 43 grams of gold per tonne of rock 1 meter down but the depth of the deposit hasn't been specified? Even so, isn't 43 g/t Au incredible? I watched the film "Gold" last night with Matthew McConaughey, and they were getting excited at a quarter of an ounce per tonne, but that's nearly 1.5 ounces.
Also, Carl mentioned that they have identified areas that are relatively easy to access hence the reason why they believe they can bring it to production so quickly. Do you think this could be one of those areas with the g/t Au being so high? Or would a trained eye look at that drilling image and see more potential in other areas?
At 100 mtrs they may have found I mtr at 43 g/t , the report should clarify at what depth it was found .
1 g/t is considered a good mineable resource , the reason for the reports is to try and assess what is possible in the mine but require further evidence to back it up.
Open pit mining is the easier and most profitable and would guess that in the ground at Garalo the resource is worth /a value of up to $200/ounce depending on costs of which heap leaching is probably the cheapest as they pile it up and filter solutions through to leach the gold out of the rocks etc;
2 million ounces is considered well worth the expenditure to mine it.
pg 84 of the report gives it as an inclined drill with "Gold assays returned 2m@10,35g/t from 57m, 1m@43,00g/t from 64m and 16m@1,24g/t from 151m"
Ah I see that makes much more sense. I thought 43 grams 1 metre down seemed strange as you could literally start mining it with shovels ha. Yes knowing the depth would be useful, but still 43 g/t is amazing if 1 g/t is considered good. I'm really looking forward to see the results from the airborne geophysics then, should be interesting (and confusing).
You found that quickly pawn , that was good of you . If you only listened to the interview once TP you should listen to it at least a couple more times.
TPKart,
I recommend watching this series.
https://www.youtube.com/watch?v=OXqE82UIVVU
Then start ploughing through PFS, DFS reports of near production mines\companies. Then you get into metallurgy and recovery rates, overburden, stopes, VMS & VTM deposits.
I spent a good few months researching geology and economics of mining (mainly) before investing in mining stocks.
There's also a lot of bullshire about.
Thanks sewingmachine I'll check it out much appreciated. And yes LO I'll have another listen once I've improved my understanding of mining terminology.