A prospective buyer will likely be interested in PN copper. The PN will need to be more than just speculation. It will need to be shown to be economically feasable. The PN is only in early stages of defining:
Regarding the Pegaso Nero (Copper-Moly area), AURYN is looking forward to reaching an agreement with the surface rights owners in the near future so that we can prepare the area for a campaign of Induced Polarization. This will help us clearly define the drilling targets.
Medinah is a holding company, not a private mining company and has Alternative Reporting Standards. A miner will be more interested in the geology and compare it to similar deposits before purchasing an equity interest in the deposits than an audited f/s. There will need to be cash flow from the early exploitation gold deposits to pay for the exploration work needed on the PN. AURYN has announced it plan of how to “pay as it goes” and do everything “by the book” regarding current mining standards. MASGLAS/AURYN compares the age of the deposits and composition to be similar to the Andacollo mine (among others) porphyry system 480 KM to the North of Santiago.
The Andacollo gold deposits cover a north-south elongated area of ~7 x 3 km, located on the NW and western periphery of the Carmen de Andacollo porphyry copper system which is central to the district and represents the root zones of a strato-volcano that was intruded by a high level 98 Ma mineralising stock.
…The Andacollo Gold mine was a 20 000 tpd open pit, heap leach operation owned by Compañía Minera Dayton Limitada in 2000. Life of mine cash costs were $US220 per oz. The mine commenced operation in late 1995. ‘Reserves’ in 1990 were estimated to be ~15 Mt @ 1.5 g/t Au (Reyes, 1991) or 29 Mt @ 1.2 g/t Au (Oyarzun et al., 1996, quoting Bernstein, 1990).
…The gold content in the vein selvages is generally ~0.2 to 5 g/t in andesite and 5 to 20 g/t in dacite. Pyrite is the predominant sulphide in the veins, commonly occurring as two generations i). barren, pyrite-I (Muller, 1986), and ii). gold bearing pyrite-II, accompanied by chalcopyrite, sphalerite, galena and cinnabar (Llaumett, 1983). The principal gangue mineral is quartz, which is sometimes amethystine.
Gold is located in pyrite-II, chalcopyrite and aikinite-bismuthinite intergrowths, along galena and sphalerite crystal margins with quartz, and in the interstices of hematite-quartz assemblages. Grains range from a few microns to >100µm (Reyes, 1991; Oyarzun et al., 1996).
All of the mineralised veins have been oxidised to depths of 40 to 60 m, with average grades of 5 to 6 g/t Au, and local highs of 100 to 300 g/t. The underlying hypogene sulphide zone within these veins extends to depths of ~250 m, with grades that zone range from 1 to 5 g/t Au (Llaumett, 1983).
PorterGeo Database - Ore Deposit Description
AURYN’s early exploitation projects may well bring up PPS as cash flow increases from that already projected. Bring your concerns and voice them at the SHM.
Copper mining is not a short term operation. Here is an example of the type of copper mining done in this formation:
The Andacollo porphyry is being mined by Minera Carmen de Andacollo (CDA), which outlined
33 400 000 t of recoverable ore at 0.76% Cu within a roughly north–south elongated body of 1800 m ´1200 m. The mining and metallurgical procedures are typical of modern operations in Chile, comprising an open-pit mine and integrate bacterial leaching–solvent extraction–electrowinning, which outputs high-grade copper cathodes (99.99% Cu).
https://www.researchgate.net/publication/233557069_Andacollo_copper-gold_district_La_Serena_Chile_Preliminary_data_from_the_porphyry_copper_and_possible_relationships_between_Cu_and_Au_mineralization