Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Re: Blanca not being drilled because of security issues, I don't believe that's the case and will continue not to unless someone can point me to exactly where that was said. Obviously, there were delays there until they cleared off a load of dangerous artisinal miners, but that was done before the October drills were completed. Cascabel was untouched by the October demonstrations as well. I don't buy it.
Re assays - would that not be referring to assays from Alpala? Can they truly be referring to drill holes completed last October a full 4 months before the pandemic hit?
Yes, I can see that section about Blanca in the RNS 22nd June. I didn't read that far down originally! Wonder why they didn't put it in the highlights alongside Hueca and Porvenir? I also wonder why Jason Ward when questioned about what was happening on the 3 sites with permits (28/05/20) went into details about how they were mobilising onto Porvenir and La Hueca and then conveniently didn't even mention Blanca.
I would be more than happy to see an RNS announcing spectacular core from Blanca in the next couple of months, but I have some serious doubts that it is going to happen.
It's in his interview s can't remember which one, but ask Eliza. It was a more recent one where he said the drills done so far have only recently been sent off when the ALS lab reopened..
're drilling from June 22nd.
"Using the protocols developed by SolGold, field teams from Carnegie Ridge Resources are preparing to recommence drilling at the Blanca project. Local communities have expressed their desire for the return of exploration activities and appreciate the level of community engagement, education and protective medical equipment provided by the Carnegie Ridge teams over the past two months. All regulatory approvals and logistics are in place for a rapid restart of drilling."
Carnegie ridge are drilling here. Each of the sub companies has been n given a drill target.
Iceberg, can you point to where they announced drilling was stopped on Blanca for security reasons? I also don't remember being informed that they don't have the assays yet - may have missed it? Seems bizarre, as we are 10 months on...
Yes they did say that they are ready to restart Blanca, in the sense that the drill pads are set up etc - however they are not going to just yet - they are doing Porvenir and La Hueca.
Hi 365. We covered this further down ..They stopped due to security reasons and they don't have the assays yet as confirmed recently by the company , but should have soon. Also they have announced they are going back to re start the drilling where it left off literally now.
*hole
Iceberg, I stand corrected - two drills completed but no results RNS'd - first whole had 30cm of visible gold/sulphide mineralization and the second not a great deal. One can only presume that the assays from the holes, which I assume SOLG have in their possession as we are now 10 months on, did not show anything spectacular...unfortunately. The fact that they only did two drills and then stopped is a bit Aguinaga-esq too. Hype and then radio silence.
Anyway, there's plenty to be excited about over at Porvenir and La Hueca (hopefully La Hueca...things seem to be very "fluid" - couple of weeks ago it was La Hueca too and in this last interview there was no mention of it).
Bnc I think solg conceded over Blanca due to parts of it being in the 5km tenement. I think it was after, another Blanca 2 area was created which is out of the 5km and not part of cascabel and whole owned by solg
hi folks
you're absolutely right there iceberg there are no drilling results from blanca - the grades quoted were rock chip samples only!
the nature of Blanca rather than a blob of mineralisation (scuse the novice terminology) is in sheets of mineralisation......I believe a diagram was in one of the co releases.....indicating how it might look.......cant recall which one however and am away at the mo so aint got it to hand
from the associated rns release
"The first hole BDH_19_001 intersected a 30cm wide quartz vein containing visible gold and rich in
chalcopyrite and pyrite at a down-hole depth of 98m (Photo 1 & 2). The first 150m is characterised by
andesites and volcanic breccias with multiple zones of thin sulphide-rich veins and mineralised fault
zones. Chlorite-epidote propylitic alteration increases in strength at depth possibly signifying proximity
to a source intrusion.
Visible gold was also noted in the second hole BDH_19_002 (Photo 3), drilled on the same section as
BDH_19_001 at a shallower dip. This hole also intersected multiple zones of flat dipping, thin sulphide
rich quartz veins in the first 170m. Structural correlation between the holes supports the conceptual
model of a system of stacked mineralised quartz veins at the Cielito prospect."
r's
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We don't know what the Blanca drill found as we don't have any results, there was talk of visual but that's it. A visual of a potential 600g\t over 30cm would be the same as 60 over 3m or 6g\t over 30m...we don't know what the supporting stock work was grading or how close to surface this was in the core.if this was was 20m down then that's amazing. Is the vein opening of closing ? What was the dip of the vein and or drill?
Nick would have wanted to be careful with the visuals as to limit expectations if the grading wasn't as hoped..I
But the point is they haven't even come back from the lab yet! And XRF isn't allowed in rns statements.
Morning Iceberg, my concern about the Blanca intercept that was released (~600g/t over 0.4m) was obviously not the 600 part which is clearly super-bonanza but the 0.4m part...the concern is how continuous is it? Are they in lenses - is this going to be economic? This is why NM stated on several occasions that it was "complex". I am hopeful there will be something decent there, but I am unfortunately a lot less hopeful than I was last September, when Blanca might have bootstrapped Alpala into production.
Great post BNC
So what do we expect this week then? Funding confirmation would be nice first I think before any drill results..
Agree with most of that BNC. Wrt 4 CV-19 and lack of funds are what have dictated CGP's share price. To lay the credit at NM's door is mistaken.
Wrt 6, in the early May webinars he was deliberately vague about the use of FN funds - I remember it quite clearly because it was one of the most important questions asked from the point of view of my investment. Now that the $40m is in the bank, he is crystal clear about the use of FN funds.
That was so full of sh itty auto corrects sorry.
Just picking this up
"There always does seem to be a way of getting round releasing poor drill results - it usually goes along the lines of: "we waiting to release them as a batch". The opposite happens when they hit the motherload of course - that gets individually RNS'd and toute de suite!'
I made a mistake with this a few months ago so looked into it thanks to some input on here.
Blanca was split into 2...The drilling q4 last year was in the non ends bit 100% owned by solg. This are drilling blanca, possibly already.
The drill results taken in Q3 2019 where visually impressive but incomplete..for a variety of reasons , partially 're illegal miners 're covid they held off sending the results to the lab..until restricts at the als lab and Ecuador allowed. According to the couple this was 4-6 weeks ago now...whether they wait and release the results with the new drill results or earlier is anyone's guess. But there is none zero evidence thAt the results were bad, visually they were very impressive indeed.
Excellent post BNC, especially point 2, I remember the situation, but wasn't aware of the outcome. All the best.
BNC, morning good post ,none of us are spring chickens !!:),got a feeling all the ducks are lining up here now though
Hi folks can I just clear a few points up:
1) it is not a legal requirement to release individual drill results - not defined as price sensitive! I believe there are drill results outstanding from Aguinaga still that have not been published.
2) Blanca dispute with CGP was this, that part of the concession was in the Cascabel concession therefore owned by Ensa which is 85% SOLG & 15% CGP - CGP disputed this and I believe this was conceded by SOLG.
3) If the market is judged to be favourable for fund raising, I'm pretty sure Citi will have advised SOLG too take advantage of that market and get funding secured - after all we're still an explorer with no income stream so never look a gift horse in the mouth n all that.
4) Further to Grimmy's very good points, I believe it has been quite a strategic move to keep CGP's SP subdued in order to get away the offer recently made after all CGP's sp isi directly impacted by our own.
5) Artisinal miners have been at the Blanca concession and there were large demonstrations also which had to be dealt with in that province well documented last year .
6) FN funds, pretty sure NM stated they were for Alpala/Cascabel and definitely recall him stating that that valuation was was for Alpala and not the other concessions
Finally I also for once left quite impressed with this last interview as he spoke candidly and very capably too. I often go away thinking we've heard it all before, but this had a different v confident feel. As for looking knackered I'm not surprised. Imagine trying too fend off loads of companies interested in SOLG/Alpala etc. Travelling around the world for this presentation and that one etc. Having to talk to reporters and promoters alike......sometimes at 2-3am. Nevermind actually run the company, and steer a load more beside [DGR stable Ironridge etc] then there's his own private business e.g. the ranches he owns........and he's no spring chicken either.
Yes things can always be better and they're not perfect but when are they ever? All in all I think he's doing exactly what he should and hope he pulls this off for his and all our sakes!
atvb folks
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