Member Info for confuseddotcom

The Muratdere Cu-Mo (Au-Re) porphyry deposit, located in the Tethyan metallogenic belt, Turkey, has a Joint Ore Reserves Committee (JORC)-compliant inferred resource of 51 million tonnes, including 186,000 tonnes Cu, 204,296 oz Au, 3.9 million oz Ag, 6,390 tonnes Mo, and 17,594 kg Re (Stratex International, 2017), with whole-rock Re concentrations of up to 2.37 ppm

Circa 10m buys so far this morning, got to move up soon…

Good point Lamb, would also add that Tim has been there and got the T-Shirt, a quick look into his past ventures shows he is no mug and has serious pedigree.

Agree. I guess it is a reflection of the where they are on the development curve and therefore how de-risked they are.

Still integral to their strategic pipeline plans:

IAMGOLD Corporation (NYSE:IAG) dropped 6% and was down 13.5% last month. The company reported consolidated operating and financial for Q1 2021. CEO Gordon Stothart said that in Q1 2021, the company made considerable progress towards its development and operating goals.

He said that they generated around $89.5 million free cash flow and ended the quarter with liquidity of approximately $1.5 billion. IAMGOLD reported string production at Essakane and at Westwood’s Grand Duc open pit. COVID-19 restriction and heavy seasonal rains affected production at satellite Saramacca and Rosebel.

The company completed the Essakane upgrade, and it continues expanding Rosebel camp capacity. IAMGOLD commenced significant earthworks at Cote ahead of schedule with 18% project completion at the end of Q1 2021. The company continues to des-risk the Boto project through essential infrastructure work advancement, including camp and access road construction. Recently, the company announced two initiatives supporting host communities, including the Giants of Africa youth program sponsorship and a considerable donation to the COVAX vaccination program of UNICEF. So in the coming months, IAG is a stock to watch.

West of Diamba Sud is a joint venture called ‘Senala’ between TSX-listed miner IAMGOLD and prospect generator Oriole Resources.

In the second quarter of 2020, IAMGOLD kicked off a 10,000m drilling program at the Faré prospect in the north of the licence.

That’s 20km directly west of Diamba Sud.

Initial results from the programme are anticipated in the first quarter of 2021.

Old drilling at Fare – which was never followed up – pulled up incredible intercepts like 20m grading 31.13 g/t gold, including 10m grading 60.98 g/t.

“The historical results at Faré have already shown the potential for the development of a significant gold resource,” Oriole chief exec Tim Livesey says.

“As we have seen from recent drilling on other licences in the immediate surrounds of Senala, long intercepts with grades well in excess of 2 g/t Au can quickly build the types of volumes required for stand-alone mineable resources.”

So many ‘screaming anomalies’

There’s never been a major discovery on the western side of the shear zone, Chesser’s Mike Brown says.

But the amount of successful exploration activity in the area suggests this is about to change.

“We all have screaming anomalies which suggests that the geology is highly prospective,” Brown says.

“We aren’t trying to prove a model anymore; we have proven that the mineralisation is there, and that the geology is very similar to the eastern side of the SMSZ.”

Worth a recap as we await results, good to remember what all the fuss is about !

The eastern side of the prolific Senegal-Mali Shear Zone (SMSZ) is home to 45 million ounces of tier 1 gold production. The western side has barely anything.

Why? Because miners and explorers didn’t know how to pinpoint deposits under the western side’s thin layer of cover.

This cover is drenched during the annual wet season, making normal soil sampling techniques ineffective.

The first company to ‘crack the nut’ was ASX-listed Chesser Resources (ASX:CHZ), which replaced soil sampling with deeper auger drilling at its Diamba Sud project.

Auger drilling – an idea Chesser got from fellow ASX explorer Oklo Resources (ASX:OKU) — was a gamechanger for the entire western side of the SMSZ.

In 2019, Chesser discovered ‘Area A’ with impressive intercepts like 21m at 6.62 g/t gold.

But Chesser really caught the market’s attention in July this year with some extremely high-grade gold intercepts in five successive holes at the adjacent Area D, including 10m at 25.1 grams per tonne (g/t) and 48m at 6.7g/t.

Thick, shallow, and high grade – that’s the trifecta investors look for in drilling results.

Chesser now believes the adjacent Area D is quite possibly the continuation of Area A that has been ‘offset’ by a regional fault.

“The similarities with Barrick’s 5.5moz Gounkoto deposit around ~5km away on the eastern side of the SMSZ are very strong,” Chesser managing director Mike Brown says.

“I’m looking at a presentation from Randgold in 2011 – when they were hitting intercepts like 65m at 16.5g/t — and geologically this could easily be a cross section of our deposit.”

Diamba Sud could be a very large system. Chesser is currently knee-deep in a 20,000m drilling program to discover how big it actually is.

But Chesser isn’t the only one. Sparked into action by Chesser’s innovative auger technique, gold majors are now very active in the immediate neighbourhood.

On the eastern side of Diamba Sud is the Barrick Gold-IAMGOLD Bambadji joint venture: a project Barrick chief executive Mark Bristow has mentioned by name in both the Q3 and the Q4 earnings reports conference calls.

“Barrick had been sitting on it idle until we got our initial augur results,” Brown says.

“Then Barrick went through and re-did all their exploration work, and that’s when they made a discovery called ‘Gefa’ in the south.

https://orioleresources.com/projects/bibemi/

https://orioleresources.com/projects/bibemi/

https://wp-orioleresources-2020.s3.eu-west-2.amazonaws.com/media/2021/03/25102539/Oriole_121-London-Presentation_24.05.21_F.pdf

Something strange going on in the background, normally pops back up at the end of the day. Definitely feels like it’s being held back.

Gold bouncing hard now, in light of recent events I wonder if it will break $2000 again in coming weeks.

Iamgold’s cash reserves are bonkers, with the rally in the POG and that cash burning a hole in their pocket, Boto investment decision must be a no brainer.

https://www.mining-journal.com/capital-markets/news/1394757/iamgold-offers-ususd450m-of-senior-notes

https://mobile.twitter.com/MiningCatalyst/status/1303626034047262720

Some juicy intercepts on the 'other' side of the Senegal-Mali Shear Zone:

$CHZ.AX
@Chesser_CHZ

48m @ 6.70g/t Au
55m @ 4.27 g/t Au

$ORR.L
@OrioleResources

7m @ 86.39 g/t Au
20m @ 32.77 g/t Au

https://www.proactiveinvestors.co.uk/companies/news/925373/money-begins-to-flow-towards-the-gold-mining-juniors-in-a-big-way-as-a-new-round-of-corporate-activity-looms-925373.html

https://www.northernminer.com/fast-news/roscan-gold-expands-around-kandiole-in-mali/1003818225/

JV partner IAMGOLD is in Year 3 of its earn in at Senala & will shortly be commencing a planned 10,000m air core drilling programme at Fare to further define & confirm areas of anomalism - we look forward to the results. See RNS dated 12 March 2020 http://ow.ly/Vrq950A9Xjo #gold

Would expect some delays in the current climate though.

Price of Gold approaching it’s recent 7 year high (1679) with plenty of scope to power through this in coming months. All bodes well for Oriole, this plus the news flow we are expecting should see this bag from here minimum IMO.

https://twitter.com/OrioleResources/status/1230432000785494016?s=19