The Mining Play

Auryn/Medinah - 2022 - 1st Half General Discussion

April 2021 update:

“Intersection with the Don Luis vein body is expected to take another 10-15 meters and is likely to be accomplished within a week.”

January 2022 update:

Still not intersected. “The Don Luis vein has a much more vertical orientation than initially forecast.” No forecast on when it will be encountered.

Not sure what to think about this. Clearly, they don’t have a fundamental understanding of this ore body which I suppose is not surprising with the lack of drill core etc from the vicinity or otherwise more precise info. It is what it is.

Did some measurements from where the tunnel is now. They are likely less than 150 meters away from the surface extension of the DL which dips down towards the direction of the tunnel so seems like another say 3 months is about the latest it will be encountered if that.

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Seems like they would start AT SURFACE and then proceed downward following the vein so they can stay with it the whole way? I understand that with depth mesothermal veins become more prolific, but it might be what MUST be done to properly track it? Don’t know.

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^^^ from the latest tweet. That looks like the material around the DL that we saw on the previous level.

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They wanted to first construct a production adit. It makes sense to come in from a lower elevation in this case for a number of reasons. The suspected geometry of the ore body was suppose to go close to the entrance of the Adit. The lower part of Lampa is also where the high grade seems to be. Overall, it is easier to work upward(or even) than downward with gravity in your favor. Also, it shaves off 200 vertical feet and shortens the turn around time for the ore trucks. Finally, they do have a map of the DL at the surface plus where it is inside the old Lampa tunnels so they weren’t working exactly from scratch so it probably all makes sense on paper at least to do it this way which was no doubt designed by their mining engineer.

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15gpt material is nothing to sneeze at but, as the resident bear, I’ll state the obvious:

The realities of a shoe string mining operation and real world grades will eventually be grasped by even the most optimistic participants here. The company continues to put out PRs that highlight the difficulties of this project and, if a year of trying to find and then re-find the elusive DL Vein isn’t convincing enough, the next several quarters of inching along may finally do the trick. In the meantime, as we wait for the next PR, I have no doubt , that the BB’s of the world will gravitate back towards projections of 60pgt+ material and a cash flow dividend machine while conveniently ignoring the facts coming from the company…two truck loads of material at 15pgt have been delivered over the past 6+ months…$40,000 won’t put a dent in the costs that are accruing to move this into “production” and it would be interesting to see where the interest free “tab” currently stands as it could take over a year to pay that back after they finally hit the DL.

I now know why the company wasn’t releasing regular updates on ore being delivered to Enami (it wasn’t happening).

A lot of patience still required. I’ll go back to hibernation.

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After Dr, Sillitoe’s visit in 2017 the projects were basically on hold while Cerro Dorado performed it’s reverse split, name change and symbol change. In late December 2018 David Brownrigg, a mining engineer, was named CEO of Auryn Mining to fill Maurizio Cordova’s position as CEO. Didn’t David Brownrigg do the original engineer planning on the Caren mine and Larrissa adit? Looks like he earned a promotion for the fine work he did there. Techniques were swiftly moved over to the Fortuna mine, probably based on much of Dr. Sillitoe’s internal report from his visit the previous year. In October of last year, “David Brownrigg stepped down from his position as CEO and board member of AURYN to lead a MASGLAS owned, producing project, in Colombia. Nevertheless, Mr. Brownrigg will remain instrumental in AURYN’s development as an advisor to the board.” Hmmm
Another promotion?

So, when David Brownrigg left, did Luis de la Torre, the headMaster of Civil Mining Engineering at Universidad de San Sebastian become the active mining engineer for Auryn? The Mining Engineering Group seems to be implementing it’s goals as outlined in the shareholder notification dated Oct 4, 2021. The collaboration with the University is moving things forward according to objectives outlined last year. 2022 is starting out on some major optimistic notes for current shareholders.

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Them making it a point to say that just as soon as they find the DL vein they will announce it and immediately commence production seems ominous. Logically, it seems they would in fact be close to the DL vein - how could they be far off? These guys are smart men, and they have to be on the cusp of finding it. Interesting.

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|Match |Odds of Winning |Prize|
|5 plus Powerball |1 in 292,201,338 |Jackpot|
|5 |1 in 11,688,054 |$1 million|

Hope our odds are better than this !!! :star_struck:

I’m sure he will, especially since they are bypassing the 15gpt and staying on course. Why would we expect regular production if they haven’t hit the DL vein? You poking us in the eye with the two truckload comment implies that this was an exhaustive effort at production. Clearly it was not.

Let’s talk when they hit the motherlode. If scaling up with outside financing is an option, they will be in a much higher leveraged position after taking a few truckloads of DL vein material. If I were you I would get in a few more shots while you can because your time is running out. Soon your comments won’t have much merit left.

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I know this is dated Nov 2021 but still of interest.
Since this article, Chile did" indeed, elect a new president.
With a commitment to change things up in the mining sector of their new constitution, due in July.

Dont fool oneself into thinking that change comes slow in other countries. Just remind yourself how fast "change’ came to yours.

Chile’s Future? Non-Exploration Or Non-Exploitation Mining Concessions And Transferred To Miners? - SMR- Skillings Mining Review

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The iShares MSCI Chile ETF (ECH)representing the Chilean stock market slumped 10% after leftist Gabriel Boric won the country’s presidential election.

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I have no doubt they will eventually hit the DL vein and start “production.” I also realize that two trucks over six months will not be the norm once they hit it. However, there was a tangible presumption over the past several months of posting that there would be regular truck loads of material heading to Enami with very high grades. I’m simply commenting on what has actually happened vs. what was presumed.

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Gold moving up nicely today 1818

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THIS MORNING - US inflation jumps to 7% in December from a year ago, the highest level since 1982. Thank you, President Biden.

Seems like gold stocks should be moving, but I’m seeing the crypto coins/tokens moving like a freight train.

Things have changed in the world.

Changing big day by day… just waiting for the next shoe to drop.

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Wowza . . .

Looks like they updated the gallery. @brecciaboy - what do you see in those images?

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I see some beautiful colors :smiley: I’m no geologist but it looks like we are seeing more and more beautiful rock as they get closer to the DL. Only a matter of time

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I know some people will take me to task for this, but if you to ask me where I think we are going, look at this . . .

Kirkland Lake Gold - Home

Gold Recovery Process at Fosterville Gold Mine - YouTube

From small beginnings . . . first step is hit the Don Luis.

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Hi Kevin,

Thanks for the new photos. I guess the term “highly-mineralized” would be an understatement. I think the most remarkable thing about all of these recent photos taken from the Antonino Adit, especially past the 50-meter mark or so of the currently 255-meter-long adit, is the increase in widths of the mineralization as well as, of course, all of the samples of what appears to be (no promises yet) VISIBLE GOLD OR “VG”.
By now I think we’ve all read of how mesothermal veins really do get richer and wider with depth. In a “tectonic/fault breccia” environment like we are in, the amount of faulting and fracturing of the rocks is crazy. Somewhat vertically-oriented thrust faults just so happen to widen with depth. When they get filled up with ore they become “veins” or sometimes “breccias”. It’s true that gold, pyrite and chalcopyrite can all present as yellowish/bronzish stuff with a “metallic luster”. An armchair quarterback will be quick to point out that pyrite is known as “Fool’s gold” and this is true. What this QB is not saying is that pyrite is one of the leading mineral indicators for gold.

Golds travels upwards from magma chambers in hydrothermal fluids and gases. It often travels in association with “chlorite” or with sulfur in what are called “thiosulfate complexes”. Being bonded to sulfur makes gold soluble (dissolvable) in these liquids and gases. If you want gold to be deposited in a location, you need to separate the gold from the sulfur so that it becomes “insoluble” and it “precipitates” out of solution and becomes a solid. “Boiling” will do it but so too will magnetite. Magnetite is also called iron oxide. Magnetite has a strong affinity for sulfur. When magnetite steals the sulfur ion from these gold-sulfur complexes, it becomes “pyrite” and the gold is deposited as free gold. So “pyrite”, which used to be magnetite, hangs out in the same neighborhood as free gold. The presence of this shiny yellow stuff known as “pyrite” is a good thing.

“Chalcopyrite” is basically “pyrite” with a copper atom attached. It is also shiny and yellow with a “metallic luster”. It is the most common source of copper. It is a very good thing. Gold, of course, is also shiny and yellow and it has a “metallic luster”. SHINY AND YELLOW WITH A METALLIC LUSTER is a very good thing for different reasons. It’s all over the place in the last 200 meters of the Antonino Adit.

Up higher in the structure of the DL1 Vein, SMFL was mining an average 64 gpt gold for 30 straight years. The ACA Howe report cited that there was ZERO visible gold present up near surface despite those insanely-high grades. The gold was very, very fine-grained. ENAMI used a “grind” of “minus 200 Tyler mesh” to liberate these super-fine particles way back then. That’s a tiny mesh size. There was a nice overall concentration of gold but it wasn’t visible to the human eye. This is the norm. VISIBLE GOLD IS VERY RARE although we’ve all seen samples of visible gold in quartz veins.

We need to be patient and wait for the assay reports on these areas with all of this SHINY YELLOW STUFF WITH A METALLIC LUSTER. For me, what’s a little bit scary is that the average producing underground gold mine is cranking out 7 gpt gold and making big bucks at $1,800 per ounce gold.

You also need to keep in mind the mining concepts of OPTIONALITY and SCALABILITY. Auryn has run into about 20 different zones of mineralization on their way to the 255-meter mark. I’m not interested in the AVERAGE grade of those 20 areas. Auryn is going to produce from the best of the best sites at first. As Auryn chases down the best of the best zones, new high-grade zones will be intersected that will totally blow away the AVERAGE grade content of those first 20 sites.

The results of the trenching program done by Auryn several years ago revealed over 5,000 meters of gold-bearing veins having made it all of the way to surface. A lot of underlying veins do not make it to surface. It is no surprise that the Antonino Adit is intersecting mineralized structures right and left. There is a 200-meter-wide zone of argillic alteration present at surface around the DL1 Vein. This alteration is caused by hydrothermal fluids and gases making it all of the way to surface via cracks and fissures and converting the host rock granodiorite into argillic clay. These same fluids and gases carry the gold up towards surface until it finds an area where the sulfur bonded to gold can be displaced.

I’m not sure who whispered into Kevin’s ear to keep an eye on Kirkland Lake Gold as a template for the ADL. It’s interesting how KLG always has 2 mines that rank in the top 5 gold mines by richness of the gold grade. They are Macassa and Fosterville.

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how do you get to the gallery pictures?