Member Info for Cornishknocker

The idea is the copper mine will be producing before this happens.

I trained as a mining engineer, now working as a civil engineer living on top of South Crofty. Theres nothing wrong with a deep mine if the grades are right. Hole 19 in the last phase included 12.61m@ 1.14% Snequiv and 4.82m @2.63% SnEquiv. If that proves to be two structures with grades round there, the value of the ore in the ground is going to be phenomenal.

If we were to say we have a 300m height of structure (Down Dip, with a 2Km strike, then the first structure will equate to £4.5 Billion and the second to £4 Billion.

I'd be surprised if the National Park comes into it, I'm not aware of the National Park authority ever being consulted on any development in Cornwall - the National Park is in Devon, several miles and a river away. Unlike Hemerdon which is right on the edge and Sirius which is actually in the park and as such were the planning authority.

Ok, here goes, taking costs from Strongbow's PEA for South Crofty, which will be more similar than an open pit, all figures are Canadian Dollars: -

Shaft Sinking@ $40,000 per metre x 2 shafts x 500m depth - $40 Million
Process Plant: - $38 Million
Tailings Plant: - $11 Million
Water Treatment Plant - $7 Million
Site Infrastructure: - $8 Millon
Winders: - $12 Million
Ventilation & Mining Equipment: - $5 Million
Sub Surface Infrastructure: - $8 Million
Underground Development: - $10 Million
Permitting: - $5 Million

$146 Million.

I always find it amusing that people seem to believe a junior miner can bring a new mine into production without serious dilution, it's the nature if the beast. Redmoor is likely to cost in the region of £150 million to construct, where are ourselves and NAE going to get that kind of money? We are likely to see an amount of senior debt and equity financing, the debt will probably be wrapped up in CRL and the equity shared between us and NAE

We have tin at shallow depth and now tungsten at depth

If you look at the drill results from last year, the deep mineralisation had very little tin, this is continuing the trend. As I've said before this is uncharted territory, nobody know what's at these depths in this area.

No the mention was Tungsten, however at present the resource is being measured as a tin equivalent, that may change.

That should have been stockwork!

After being in the doldrums for a long time it's nice to see a bit of positivity. I'm not getting over excited about this yet, but this does have the potential to live up to Jp's Juggernaut claim. For a minute we have an RNS saying we now have mineralisation between 400 and 700m in depth, that is significant as if it is the same ore body it demonstrates a minimum of 300m down dip. Alternatively it may be multiple ore bodies which is also significant. In a few weeks time we will know what the actual grades and thicknesses are and we should be able to infer if we have multiple lodes, a pegmatite or a Stockwell deposit. Based on this I fully expect us to go ahead with the second phase drilling, but if the results are strong enough there may be legs in updating the mineral resource model before starting, which may significantly increase the value if the deposit. If the information we have from these holes is enough to give a 10 year mine life, there is limited value in extending that to 20 years right now, that can come later, the money would be better spent on a feasibility study now, which would realise some of tge asset value into the share price. As it is now, I think we can look forward to the updated resource model in the first quarter of 2019, which should then progress this onto the next stage.

That's why I put the massive health warning on it........

Just doing some quick calculations, bearing in min mind this carries a very significant health warning, as quite simply we don't actually have enough information to bear this out at present. Last year we were getting assay results of 6-10% tin equivalent. And intersection widths around 8m, with a possible strike length of 2km. If these holes were a continuation of that at depth, that would give an ore body valuation of around $20 billion

That is a significant update, as we are now demonstrating that the mineralisation is continuing to far greater depths then previously known - nobody has ever drilled to that depth in that area. What this means is if this goes ahead to production, the mine is likely to have a long life (in excess of 20 years). That makes permitting easier as there is the promise of long term jobs in the area and once entering production the probability of far longer debt free running.

Great post Southwesterner, from a research point of view this project is great, I don't believe that this area has ever had a drilling programme carried out at these depths, so this programme will test the current models and potentially create a new one. What it needs is someone of the ability of Dr Nick le boutillier, who unfortunately died a few months ago, he was at CSM doing is PhD into the Cornubian orefield at the same time I was doing my mining degree - I would love to have a fraction of his knowledge!

I don't see your point, you need to get yourself u derground and see it in situ, it appears as black veins in a white quartz host, mixed with other minerals, once you drill and blast it everything in a metal mine generally turns reddy brown. Your earlier video with brown staining was exactly that, it wasn't Wolfram

.

Trust me, wolframite is black.....

I've just had a look at the photo again, the interesting bit about it is tge depth, that's come from 470m below surface, that should be well into the high grade tin zone.

You can't infer anything based on the colour of the core. What you can say quite confidently is that it is NOT 2% Wolfram. Wolfram is generally found in very thin veins within a quartz host, so what you would expect to see in the core is black and white stripes, not solid black. It is far more likely to be a tin core, where the cassiterite is hosted in a Tourmaline mix, Tourmaline being a very dark mineral as is the cassiterite, although generally you would see quartz banding as well. It could also be that its just Tourmaline...…

Slurm, you're in the wrong company if you want drilling at that septh. The only mines in the world that are a "few kms" are in Africa. The deepest mine in Australia is 1900m, the deepest in Europe is Boulby at 1250m, until Sirius opens their mine. The drilling at Redmoor is currently 450m deep, but mineralisation is likely to continue deeper. If you want deep drilling have a look at the united downs geothermal project in Cornwall, where they are drilling 4.5km deep, the rock temperature down there is in the order of 200 degrees C - hence why nobody is mining down there! The deepest mine in Cornwall is Dolcoath (Part of the South Crofty complex, in the process of being reopened by Strongbow, who are shortly listing on AIM), at 950m - it is about 40 degrees C at that depth.

We are deep drilling at Redmoor, right now!