I’ve done nothing but put out wild fires in the office for years… maybe I should take a trip 
Right! Some of us make a living doing that, and occasionally get burned in a manner of speaking. (No disrespect meant to those who fight real fires and whose lives are on the line.)
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8 months remaining on the Hochschild option. Since we’ve not been advised as to any progress at all regarding the option, it’s safe to say that it will expire on or about 8/22/23. Also, Hochschild’s stock price has declined in excess of 60% over the last two years.
I agree. In light of Hochschild having a more immediate lucrative offer with committed funds, I think the option on the LDM will most likely expire unexercised.
SKEENA RECEIVES OPTION NOTICE FROM HOCHSCHILD ON SNIP GOLD PROJECT
October 15, 2021
NR:21-37
Vancouver, BC (October 15, 2021) Skeena Resources Limited (TSX: SKE , OTCQX: SKREF ) (“Skeena” or the “Company”) announces that Hochschild Mining PLC (“Hochschild”), through a wholly owned subsidiary, has notified Skeena of its intention to take over as operator of the Snip gold project (“Snip” or the “Project”), located in the Golden Triangle of British Columbia, and begin spending to earn 60% of Skeena’s interest in the Project, in accordance with the heads of agreement dated as of September 19, 2018 (as amended, “HOA”). In order to earn 60% interest, Hochschild will need to incur expenditures of approximately C$100 million during the Option Period, which commenced on October 14, 2021. After completion of the earn-in, a joint venture would be established between the parties, and Skeena would be entitled to anti-dilution protection of up to C$15 million.
Skeena’s CEO, Walter Coles Jr. commented, “The Hochschild team has a reputation for being among the best underground miners in the world for narrow, high-grade deposits and we are fortunate to have them as our formal partner on Snip going forward. Skeena’s shareholders will benefit from Hochschild spending a potential C$115 million at Snip, before the Company would be required to contribute. This will allow the Skeena management team to focus resources on aggressively exploring and advancing Eskay Creek.”
(https://skeenaresources.com/site/assets/files/6339/2021_10_15_ske_receives_option_notice_from_hochschild_on_snip_final3.pdf)
Any news on the mountain? Did the base survive are we back on the mountain working? We just can’t catch a break
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No we can’t catch a break, it seems that it’s not meant to be. My opinion whenever we get back on the mountain Maurizio should take an aggressive stance to get the ball rolling if not we will be here another 10 years. As I said personally I don’t mind Maurizio selling some shares out in the market to get the ball rolling more aggressively.
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Let’s look at how selling some shares would impact as far as dilution:
Want to raise $10million. Since AUMC has no active market for its shares we would have to rely on the price of MDMN. MDMN closed today at .0013. Converted to AUMC value puts us at .2363 per share. (0013/.0055). $10million/.2363 = 42.3million shares. That would be a dilution of 60.4%. This assumes that the investor was willing to buy at .2363. More than likely the investor would want a a better price since it would be a private sale. So best case scenario we are diluted by 60+%. Or we can continue to be patient and let MC get it done as he can. Also, not likely that MC is going to want to dilute his 60% interest in the mountain by that much.
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Glad to hear everyone is ok and work has resumed. Surprised they haven’t mentioned anything about why they haven’t hit the vein or proximity after they mentioned they were 30 meters from it 2 months ago
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When they have something definitive to mention they will.
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What minerals are they showing us in those bulldozer buckets pictured on Twitter?
And the Twitter message says the team is working hard to close out the year. Closing out the year with 10 days remaining, hmmm. 
It just seems like an odd goal/achievement now that they’re back to work.
I see visible gold (at least it appears that way) in the picture. Not sure on my screen though.
Working hard to close out the year? I assumed they meant through the remainder of the year. Do you think they’re stopping today?
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Thanks, though it’s hard to see any gold, lol. When they said, “working hard to close out the year,” I thought about how we’d LOVE to have news that they hit the DL Vein before Christmas or New Years’ Eve. Just thought that was an interesting choice of words, but it probably means nothing. 
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Hi Done Deal,
At surface there were 2 thin veins located just meters to the NW of the surface strike (NNE to SSW) of the DL1 Vein. These were pictured in yellow in some of the early plot maps. Since the Antonino Adit is being drifted from the NNE to the SSW, one might expect that these 2 thinner veins might be intercepted just short of any intersection with the DL1 Vein. These might be subparallel (not quite 100% parallel) “splays” off of the DL1 parent vein. The most recent update referenced 2 new “clear” (well delineated?) structures having been intersected. This may or may not bode well for a near term intersection with the DL1 Vein. For that matter, they may have already intersected the vein and are in the confirmation phase. I guess the ultimate confirmation would be constructing the “ventilation/safety” chimney and breaking through into the old workings featuring a bunch of empty stopes with the wind whistling through it.
In order to make sure that they have found the parent DL1 Vein, they would first want to make sure they encountered these 2 thinner veins (if they had “continuity” down to the level of the Antonino Adit) and then encountered a wider structure just to the SE of these 2 lesser intersections. If they hit what they think is the DL1 Vein after hitting two lesser veins then they still have to go further on the same heading to make sure that the 3rd vein they hit was not just another “splay/manifestacion” off of the DL1. You don’t want to construct the “ventilation/safety” chimney unless and until you’re 100% sure you’ve intersected the DL1 and not just a cousin of it.
The geochemical “signatures” of the parent DL1 Vein should match up with any sampling from the “old workings” (which mined the DL1 which used to be referred to as the Fortuna Centro Vein) about 10 meters or so above the Antonino Adit. We also need to keep in mind that at surface there were two other much wider (and one was even richer than the DL1 Vein) veins they found further to the SSW of the DL1 further ahead on the same heading. If they’re pretty sure that they have indeed hit the DL1 Vein, then they may extend the Antonino Adit to the SSW (straight ahead) at a later time.
The engineers steering the ship right now (EGV Ingeneria), use a very advanced form of “geodetics” in creating topo maps and guiding the intersection with the DL1. I have a feeling they know exactly where they are. If the aerial mapping they did after the snow melted got a good bead on those 2 larger veins to the SSW, I wouldn’t blame them for advancing a little further well past what they feel to be the DL1. Remember though that the intersection with the “old workings” is what is going to provide them with the fresh air to safely produce from multiple levels and exploit several working faces simultaneously.
Each level will provide 2 new working faces, one heading in an NNW direction and one towards the SSE. Once there are several working faces being simultaneously mined, I would think that management would find it economic to procure (rent?) a “jumbo” drill rig and set aside the hand held “jack-leg” drills. This is when the level of production could go up in almost a parabolic fashion. You need to keep the “jumbo” busy, however, via simultaneously mining several working faces.
After intersecting somewhere around 25 veins throughout the course of the Antonino Adit, I’ve got to think that management is feeling like a kid in a candy store. The DL1 remains the KNOWN, however. We know that the system of 5 chimneys will provide the fresh air and we know about the extremely high-grade gold present. The topo mapping by EGV will no doubt involve a lot of sampling that will help triage the selection of targets. Recall that one early intersection came back with 5.3% copper. The DL1 Vein historically averaged only about 0.2% copper up near the surface. The copper likes to hang out lower in the stratigraphy.
The key is to successfully intersect the DL1 and get the “ventilation/safety” raise as well as the gallery completed. Then you can access a very dynamic production growth profile.
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And there it is . . .
December 23, 2022 – Shareholder Notification | AURYN Mining Corporation
Do yourself a favor. If you are looking at these images on a phone - make sure you look at them on a real monitor too. Wow! Hoping these are representative and the grades follow.
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Can anyone elaborate on what we’re seeing in the pics? TIA
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