Your post started me thinking about some of your past posts concerning the PN, especially one that mentioned the Andacollo Mine. Slide 19 mentioned the verified age of the PN deposit is comparable to Andacollo. Previously you posted an interesting tidbit of Medinah’s history as recounted here:
We are all awaiting the next round of expected news, especially regarding assay results of the 1st truckload of ore to ENAMI. Any news regarding the PN would be welcome, especially regarding any potential JV partner. If the PN is comparable to Andacollo (slide 19), I think the following information (previously posted last summer) would put this into better perspective as to the potential value of the ADL package of properties:
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
A JV for the PN is very desirable because of the size and CAPEX for these types of deposits. For those that may be interested in what the Andocollo mine looks like:
The above linked to press release of Auryn is pretty significant if you overlay this information on previously acquired data. Way back when, the hyperspectral satellite imaging survey by Perez indicated a "7 Km long swath of about a dozen intrusives striking SW to NE ACROSS THE SOUTHERN DOWNSLOPE OFF OF THE LIPANGUE PLATEAU. We already knew there was plenty going on geologically on the plateau itself and on the northern downslope where the Caren Mine and Las Dos Marias Mines occur.
This immense area has remained relatively untouched until Auryn commissioned that soil sampling program down that one ridge crest just east of the “South Road” near the western end of this “swath”. Before that time we did know about the Carizo and Cobriza mines which hosted the “tourmaline-specularite breccia” and the “intrusive breccia”. AMC has mentioned several times that the mineralization found further north in the “breccia zone” and the Merlin 1 Vein was “vectoring” (pointing to) the PN. In this PR they finally admitted: “Mineralization observed at Pegaso Nero target is related to a very well defined structural controlled alteration system that has only been partially explored by AURYN”. “Structural control” refers to a “structure” (often a fault zone or layer of permeable rocks) that “controls” where the metal bearing hydrothermal fluids will deposit their goodies.
Until Auryn’s soil sampling program was completed all we knew is that whatever was there in that 7 Km NE trending swath of intrusives there’s a whole bunch of material there. The soil sampling program blew people away because this 7 Km swath appeared to have a width of at least 4.1 Km. Auryn cited that it was “open to the east” and they underlined that phrase and conservatively left it at that not citing the hyperspectral imaging findings and the fact that whatever gave rise to the alteration causing the hyperspectral imaging study anomaly there was a heck of a lot of material there.
Keep in mind that AMC did a 22,000 ha helicopter borne “intense aeromagnetic study” over the 10,500 ha ADL mining district but we never got the details. “Magnetite” (iron oxide) often occurs associated with these types of deposits. Its aeromag “footprint” might have helped to further define what the hyperspectral imaging survey already taught us.
The fact that there are 2 “breccia systems” (war zones indicating lots of explosivity and upward migration of hydrothermal fluids) in the middle of this gigantic “moly anomaly” is very supportive of something special going on here. The moly and copper grades being found at surface are fine and dandy but the thing that jumps out at me has to do with S-I-Z-E and shallow level of “vertical emplacement”. Why is this? It’s because moly is usually only found near the core of the porphyry stock. The same holds true for “potassium feldspar” i.e. potassic alteration which is also prevalent here. It was no surprise at the informational meeting when Maurizio told us that the PN is just too big for AMC to tackle solo.
The “copper zone” found yet another 2 Km south of (below) the “moly anomaly” is also important (size indicator) as is the fact that they found Pb, Zn and As anomalies which can act as “indicator” elements for porphyry deposits.
OK, age and size is comparable to the Andocollo (maybe even somewhat larger). FCX reportedly has shown a serious interest in the PN for 15 years. Maurizio undoubtedly has been working to JV this deposit for some time with FCX and/or a couple majors. I hope Cerro management is aware how this could well have a positive effect on the valuation of Cerro’s 5% equity interest in AURYN before doing anything that could affect the current shareholder base.
“AURYN is planning for this summer, an extensive exploration program at the Pegaso Nero prospect, aimed at testing for extensions to the anomalies, which will include systematic additional geochemical sampling in the known prospects, reconnaissance of the surrounding areas and IP lines to detect undergrown distribution.”
Seems we have not received quite a bit of info Auryn developed last summer or did the above refer to 2017?
Sorry I tried to post the link but it will not come up, if you Google what is the roll of arsenic in the mining industry, you will find several good reads
Yes, a good read:
“Arsenic is the 20th most abundant component of the Earth’s crust, and is widely distributed in rocks and soil, in natural waters, and in small amounts in all living things … Atmospheric arsenic emissions from copper smelting represent the largest contribution of arsenic from the mining and metals industry by far and have been the focus of pollution control technologies and increasingly stringent regulations.”
Couldn’t connect there for some reason - of concern is arsenic control and capture (effectively using scrubbers, electrostatic precipitators) in CU smelting - this site (same one as you site) seems to work - thanks GCC:
Several south American countries have higher levels of arsenic in soil and water runoff area’s. Area’s where geologist look for tend to have a bit higher concentrate of arsenic as it is a by product of copper and gold, this is not only a positive find but of course one of the hazards of mining as the runoff of water blasting and concentrators can quickly cause environmental issues. For several reasons it is why impact study’s are one of the first things looked at and continue throughout production.
“Since valuable metals such as copper and gold can also be found in sulphide mineral deposits, mining exploration companies will often look for soil and water with a naturally high arsenic content as a means of locating an ore body. [9] It is therefore very important to establish baseline or existing arsenic concentrations in the surrounding environment in order to distinguish between human contamination and natural background levels. [10] The measurement of baseline concentrations is usually part of the environmental impact assessment processes practised in more than 100 countries. [11]”
Just a general question here. Which brokerages are allowing trades? I get this message if I try to place a trade on MDMN with my Fidelity account:
Error:(TC9052) Opening transactions for Pink Sheets (without information) are not permitted because of the risks associated with these securities and all Microcap securities.
So, is this something peculiar only to Fidelity? Same message with CDCH. As with CDCH it is not an opening trade. The trading desk told me it was because there was too high a level of risk (pink no information - stop sign up on OTC site). They are allowing sells, however.
Anyone else having this problem with other brokerage houses? What brokerages are allowing trades?
