Member Info for Cornishknocker

I'll be gentle, I pretty much agree with you. I think doubling the grade may be a stretch - my opinion is it will be between 1.5 and 1.75%. I think we are definitely on for doubling the tonnage though...

Tin is now holding nicely above $21000/tonne and stocks are falling. Global Consumption stands at approx 1000 tonnes per day, current LME stocks are 1735 tonnes and falling, of that only 350 tonnes are actually available - now that is tight......

Ah dear old prem, what a sack that has turned into, there is a prime example of director with no strategy. What he should have done is gone bigger scale with RHA, the scale he started with was not much than artisanal. I had a punt there, I'm not expecting miracles. Ormonde are another that could have been fantastic, but messed it up for the shareholders, it'll come good but no PI is getting rich on it.

Wolframite and Scheelite are the two economic ores of tungsten, wolframite accounts for about 70% of tungsten production. Wolframite is the easier of the two to produce a saleable product from. When looking at grades and widths you need to be thinking about the mining method, are you looking at bulk tonnage mass mining or selected mining. What we have so far is nigh on perfect for an underground mine - high grade at easily mineable widths. If you only have a 60cm wide lode, you need to take out a hell of a lot of surrounding waste rock with it. If you have a 30m wide lode you have problems with hanging wall support, meaning you have to leave a lot of ore behind as pillars. If you have a 5m wide lode, you can easily mine it without dilution and you can minimise the pillars left behind.

No we don't need measured for a PFS, indicated is fine

There's the million dollar question. Historically in Cornwall it started by mini g the surface out ropes and cliffs where the veins were visible and following them down, which is why we have legacy issues with long forgotten mines. Once underground more lodes were found by driving crosscuts to intercept parallel lodes, which was really expensive and slow before diamond drilling became available.

The modern way is first understanding the structural geology and placement me hanisms for economic minerals - they aren't random in their placement. You then use geophysical and geochemical techniques to narrow it down (basically what's happening at Hanns Camp at the moment), before you think about drilling.

This is why I believe Cornwall could prove to be a rich picking group d in the future, although we have been extensively mined, very few deposits have been subjected t to modern exploration techniques, basically what's been found to date is the easy stuff, which is how this was missed and from what missing this is the most significant find since Wheal Jane.

Exactly

Yeah, no problem, there are three levels of confidence when stating a mineral resource (Remember it a resource not a reserve), being Inferred, indicated and measured.

Simplistically, if you imagine you drill two holes 250m apart and they both hit 10m at 1%, you could infer that everything between is the same - so thats your inferred resource. If you then drill two holes between adn they hit the same, you are indicating that it is indeed the case, if you then drill it agin, you then have enough data to relatively accurately measure it, giving you a measured resource - Remember that s incredibly simplistic. What we ae dealing with at Redmoor is a complex multi zone ore body.

I Think we have enough data for a proportion of the body to put an indicated resource together for that area, but there is an awful lot where there is not enough data to have the confidence level required to say its indicated. The rules are basically set by the JORC code and are independently verified by a competent person under the code/.

I read that as for the 2018 drilling, what I would love to see is 10 Million Tonnes @ 1.5%Sn Equivalent for 150000 Tonnes of tin worth $3 Billion @ $20,000/tonne. Whatever it is, JP has said it is likely to be largely inferred, which means we will see another round of drilling this year, which is likely to be the final round, with an investment decision hopefully this year.

https://www.ii.co.uk/discussion/t/valuing-porphyry-deposits/424636. I reckon put those shares in the back of the drawer for a few years

To put some perspective on it, if you look at Newcrest mining who operate 3 such porphyry deposit mines they have a market cap of $18 billion, v GSN's $7.5 million, in other words a porphyry deposit could be worth a 1000 times the current share price. That is highly unlikely to materialise, but with some exploration to prove up the resource, they could potentially sell it easily for 50 times their current market cap, making our shares worth $12.5 million, while not company changing for us, it would be very useful, and certainly buy a few bottles of the fizzy stuff.

It should be great Southern mining, we sold the CARE gold tenements to them in the summer for a cash and shares deal, as a result SML own 1 million GSN shares.

I see GSN, whose stock we have a fair bit of announced the discovery of a potential porphyry copper deposit in Queensland that could be massive.

Spot on Sammy, going through the drill results, I think it is likely that a proportion of the resource can be upgraded to indicated, particularly in the central area. I think we are likely to see a similar scale drilling campaign with two rigs again this year, which would see most of it upgraded to indicated, and again a view to looking for a further Westward extension.

We still have news due on Leigh creek and care, as well as one anytime on Cobre with regards to the client. That's without a wild card thar we don't know about. So we'll see, but some heavy buying this afternoon.

Moving the major plant is the easy bit, the chances are a new building will be required, all the wiring and most of the pipework will need replacing and the everything will need double handling

It depends on a lot of factors, but probably in the region of £10 million.

I wouldn't entertain it, the plant at drakelands is no good for Redmoor, it's designed for bulk tonnage of very low grade ore. Also it doesn't extract copper. A plant at Redmoor is going to 've much more dependent on gravity separation as opposed the DMS, at Redmoor it's quite possible to look at X Ray sorting as opposed to DMS for the initial separation. It's all by the by anyway, an Australian Company is in the process of buying Wolf, with the deal due to complete at the end if April, that deal includes recapitalization.

The flow sheet I expect at Redmoor will be an initial pre concentration, (possibly XRT), there will be some froth flotation to remove the copper and a mix of spirals and tables to remove the tin and tungsten, with magnetic separation to separate the tin and tungsten and more froth flotation to remove any arsenopyrite. The Wheal Jane flow sheet is a good starting point, as that was designed to separate a mix of oxides(tin) and sulphides (copper and zinc)

As JP said, at present with the hole spacing we have, we can only put together an inferred resource. To get to indicated on the main area explored will require infill drilling, to do tge same on this Western section will probably need another 20 holes. Bear in mind that would give us a collosal resource, possibly worth in excess of £4 billion. I think the way this will go is the main body will be infill drilled, possibly another 4 or 5 holes will be drilled into the Western area, to prove future prospects - as it is I think we are going to be looking at a 15 year mine life, there is no point spending loads of money to make that 25 years, the markets won't care.

Also bear in mind with the 25 degree plunge and faulting, the ore body is deeper in the West, so we probably wouldn't look to get into that area to maybe year 10 anyway.

I've just been going through some details on my model, plotting the cross courses, dip and strike of the body (I've just tweeted it), as part of that I was going through NAEs 7th September 2017 update. This what they said with regards to the Western extension, this is what they said then: -

"Holes CRD008 and CRD006 tested for a Western Extension of Great South Lode and the SVS. Low grade but anomalous SVS style mineralisation was intersected, which is interpreted as continuity of the SVS mineralising system in this area. CRL believes that due to a combination of 25 degree Westward plunge and possible movements on crosscutting NNW-SSE faults, the high grade zones of the SVS are deeper at this distance along strike to the West; it is possible that a deeper hole beneath CRD008 and CRD006 may identify additional higher grade SVS mineralisation further to the west of that currently defined."

CRD027 and CRD029 have both now tested the theory, CRD027 found mineralisation at between 257 and 275m below ordnance datum and CRD029 hit it at between between 300 and 370m below OD - both in multiple intercepts.

From this you can infer that the mineralisation PROBABLY does continue.