https://finance.yahoo.com/news/glencore-eyes-1-billion-gain-142833316.html
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Maybe Glencore should visit Maurizio and talk about the Pegaso Nero.
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A couple of friends found this snip-it from a project Iâm working on to be helpful.
AURYN/MEDINAH/ADL MINING DISTRICT DUE DILIGENCE PRELIMINARY SUGGESTIONS
Iâd suggest starting in a wide-angle âzoom outâ mode in order to evaluate potential âscalabilityâ and TONNAGE issues and then zero in on issues related to potential SHIPPING GRADES from the DL2 Vein.
VIEW #1:
ZOOM OUT MODE USING A PLAN/AERIAL VIEW: Letâs start at the âADL Mining District-Scaleâ in zoom out mode. The hyperspectral satellite imaging survey of CS Perez cited the existence of âA 7 Km swath of about a dozen intrusives oriented in a SW to NE direction across the ADL plateau and its southern downslopeâ. Perez cited evidence of âat least 2 porphyry structures and the existence of a WORLD CLASS DEPOSIT with hundreds of millions of tonnes of ore in just the superficial levelsâ.
CONCLUSION #1: Whatever the average grade is of these âabout a dozenâ intrusives, there is clearly a very large amount of TONNAGE involved.
VIEW #2: ZOOM IN SLIGHTLY AND STAY WITH A PLAN/AERIAL VIEW
Auryn completed an exhaustive (1,600 samples) trenching survey of the 6 or so main veins present on the plateau. They identified over 5,000-meters of veins that made it all of the way to the plateau surface. All carried anomalous gold grades. During the drifting of the Antonino Adit, Auryn intersected about 25 separate veins/âstructuresâ most of which did not make it all of the way to surface.
CONCLUSION #2: Once again, whatever the average grade is of these various main veins and ancillary veins, there is clearly a significant amount of tonnage present. THE EMPHASIS IS NOW ON THE AVERAGE GRADE OF THESE VARIOUS STRUCTURES.
VIEW #3: THIS IS A LONGITUDINAL CROSS-SECTIONAL VIEW OF 1 OF THE 6 MAIN VEINS PRESENT i.e. THAT OF THE DL2 VEIN.
The DL2 Vein can be traced âon strikeâ at surface for about 1,000-meters in a NNW to SSE direction. It outcrops approximately 700-meters below the plateau surface. The artisanal miners mined a 350-meter stretch of the vein down to about 100-meters in depth. In the top third of these operations at level 0, they averaged a SHIPPING GRADE to ENAMI of about 54 gpt gold. In the middle third at level 1, they averaged about a 64 gpt gold SHIPPING GRADE. In the bottom third at level 2, they averaged a SHIPPING GRADE of about 74 gpt gold. As a reference point, the average grade of gold being mined worldwide in an underground vein operation is 4.15 gpt gold.
Aurynâs new âAntonino Production Aditâ intersected the DL2 Vein at level 3, immediately below level 2. Three groups of samplings have been done at this depth. The first sampling involved 12 separate samples taken from the DL2 Vein about 100-meters NNW of the intersection of the DL2 and the Antonino Adit, and came in at a VEIN GRADE of about 150 gpt gold. The second came in at a VEIN GRADE of 164 gpt gold (and 4.5% copper) at the intersection itself and the third came in at a VEIN GRADE of âabout 150 gpt goldâ also at the intersection itself.
The ore being found at this new level 3 has a much different presentation than the ore mined from levels 0 through 2. There is much more âVISIBLE GOLDâ as well the appearance of a very high-grade form of copper known as âborniteâ.
CONCLUSION #3: THE EXTREMELY HIGH HISTORICAL SHIPPING GRADES OF THE ARTISANAL MINERS HAS NOW BEEN CORROBORATED. THE AREA THAT HAS BEEN SAMPLED HAS EXPANDED SIGNIFICANTLY. THE PRELIMINARY INDICATIONS ARE THAT THE AVERAGE GRADES OF THESE âABOUT A DOZENâ INTRUSIVES AND MASSIVE NEXUS OF VEINS IS SIGNIFICANT. Production from this level 3 will commence once a 50 square-meter âgalleryâ is completed as well as a 30-meter long âventilation/safety egress manwayâ is completed linking the âold workingsâ to the new level 3. A âdecline spiralâ will be drifted to access the various sub-levels below level 3. Level 3 of the DL2 Vein which is centrally located within this VEIN SET, is located at the 1,840 meters above sea level elevation. The westernmost of these 6 main veins, the Merlin 1 Vein, also shows these same âbonanza gold gradesâ at the same elevation level i.e. 1,840 masl.
AVERAGE GRADE and TONNAGE are the 2 main parameters involved in dictating the ECONOMICS of a mining operation as well as the projected MINE LIFE in the case of TONNAGE. At this deposit, TONNAGE has never been much of an issue. Recent developments at level 3, have corroborated the off the chart SHIPPING GRADES achieved by the artisanal miners from the very same area that production is about to recommence.
The concept of âSCALABILITYâ is also critical. Can production be ramped up by accessing nearby sub-levels as is the case with the DL2 Vein or nearby vein structures as is the case for the entire VEIN SET present at the ADL Mining District?
One of the recurring themes of this STUDY GUIDE is the need to constantly take new information like the grades being found at level 3 and LAYER it over previously acquired information like a 7 Km swath of about a dozen intrusives and the presence of over 5,000 meters of these veins that actually made it to surface. Also keep in mind the HISTORICAL SHIPPING GRADES. Contrast these findings to a situation in which the hyperspectral satellite imaging survey only revealed 50-meters of intrusives, instead of 7,000-meters or 50-meters worth of veins having made it to surface versus 5,000 meters of veins carrying anomalous levels of gold. What if there were no HISTORICAL PRODUCTION FIGURES to base this model on?
As Iâve mentioned before, the most difficult part of this Auryn/Medinah/ADL Mining District due diligence process is the extended amount of time over which all of this data has been accumulated. Itâs tough to keep track of prior events and their relevance to todayâs news. The one consistency Iâve noticed over 23 years of studying this deposit is how the property never ceases performing.
The other thing Iâve noticed is the need for common sense. For example, directly above the new intersection of the DL2 Vein and the Antonino Adit, the artisanal miners were averaging a SHIPPING GRADE of about 74 gpt gold. This involved the VEIN GRADE, plus the grade of the surrounding wall rock which is typically lower than the VEIN GRADE plus the effect of any on-site âbeneficiation/concentrationâ like gravity concentration. How shocked should we be that the assays (VEIN GRADE) came in at in between 150 gpt gold and 164 gpt gold? At level 3, thereâs VISUAL GOLD all over the place but hardly any at level 2 and above. These insanely high gold grades shouldnât have surprised anybody.
The ore from levels 0 through 2 reacted favorable to âbeneficiationâ techniques. Prior to the artisanal miners ceasing production, they were able to get the SHIPPING GRADE up to 102.7 gpt gold via an undisclosed modality, probably gravity concentration. When they instituted a crude âflotationâ system to capture more of the sulfides, they got the SHIPPING GRADE to over 92 gpt gold. Auryn is currently testing the âMETALLURGYâ to see which âbeneficiationâ techniques result in the highest recovery rate. Luis de la Tierra, formerly Head of Underground Operations at Yamanaâs enormous El Penon Mine, is doing fresh flotation studies to test for enhanced recovery. He heads San Sebastian Universityâs Department of Mining Engineering.
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I was thinking along similar lines when I came across an article on the use of ASTER as a tool for mineral mapping geologic formations within the ADL Mining District.
âThe vast majority of satellites being launched todayâknown as âsmallsatsââare simple red, green, blue, and near-infrared platforms that lack the ability to map specific clay and iron minerals that are key to discovering new mineral and hydrocarbon resources,â he said. âSmallsats are fine for capturing color imagery over an area but not up to the task of detecting the specific minerals associated with copper, gold, and diamond deposits or the signs of vegetation stress in individual plants and trees.â
Taranikâs company primarily uses WorldView, Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER), Sentinel, and other industrial-grade superspecteral instruments with 15 or more high-resolution spectral bands to capture imagery.
(https://www.esri.com/about/newsroom/arcwatch/mineral-exploration-in-the-hyperspectral-zone/)
I imagine mapping the ADL Mining District with ASTER for gold bearing mineral signatures, combined with all the data already available to be compiled, would define areas of narrow vein higrade gold deposits suitable for shallow open pit mining. This would require an onsite refining/processing plant. Not within AURYNâs budget now, but perhaps some future JV partner would be interested in bankrolling such an endeavor.
DARE TO DREAM BIG!
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Gold back over 2000
Whereâs that update?
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Gold at these levels makes doing projections that much more fun 
. Looking forward to when the company can officially post some projections.
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We would need more than an update to move the SP. I will stick to my previous post that Maurizio needs to do maybe a JV so he can get the SP moving in this gold bull run. I really donât want to wait another 5 years to get my money back or make a profit. I have paid my dues along with others to wait another 5- 10 years. The time is now when everyone will be flocking to Gold and buying mining stocks.
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Gold moving nicely again over 2030 and getting close to testing the new high. Hope MC is watching this and he can start getting ore to the mill. He did say âand we look forward to a prosperous new year.â Itâs time to start making some money.
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whatever happened to Freeport? All majors are looking for coper mines. I know ours it is at a very early stage but we should be able to attract attention just like we did with Freeport.
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Hey Hulk,
Interest is there, we have attracted attention. Other parties have signed NDAâs and do not wished to be mentioned. Freeport allowed their name to be mentioned. And yes we are at an early stage. So what exactly is your question? New BOD members specializing in negotiating and structuring JVâs along with the DL progress and price of gold all bode very well for where this is heading.
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https://aurynminingcorp.com/april-2023-shareholder-update/
April 2023 â Shareholder Update
Apr 6, 2023
AURYN Mining Corporation Shareholder Update
AURYN Mining Corporation (OTC: AUMC) is pleased to share its Q1 2023 accomplishments, Q2 2023 objectives, and outlook for the future.
Q1 2023 â ACCOMPLISHMENTS
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We completed the excavation of the gallery at the intersection of the Antonino tunnel and the Don Luis vein. The gallery is 7 meters long, 5 meters wide, and 4.5 meters high. This allows the scoop to turn around and exit forward. This design enhances ore removal efficiency, reduces exhaust, minimizes equipment wear, and provides additional options to speed up extraction. During the construction process, 80 tons of mineralized material was accumulated, which still require sorting to discard any waste.
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Topographers from EGV IngenierĂa returned to Lipangue and took new readings to determine the precise orientation to follow the Don Luis 2 from our intersection on level 3 to the old workings on level 2. Based on the topographic findings our mining team expects to complete the chimney in Q2. The team has begun construction of a ventilation shaft by following the Don Luis vein upwards toward the old workings.
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AURYN has signed memorandums of understanding with different companies to find a higher margin alternative over what has been done in the past. The most promising of these MOUs includes a term sheet with an international minerals trader who is interested in purchasing ore concentrate from AURYNâs production. This will require AURYN to use a particular approach to concentrating the ore using gravimetric plants.
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To ensure that AURYN can meet the terms of the agreement with the minerals trader, a 120 kg sample of the ore has been sent to two different specialist labs in Peru for comprehensive testing. The sample is expected to clear customs in Chile this week and will then be sent to the labs in Peru. These tests, including gravimetric and chemical assays, will provide crucial information for maximizing profitability under the agreement. The analysis will be carried out in special laboratories in Peru since they offer the most complete set of gold tests we have been able to find. The labs that we use in Chile are unable to perform all the metallurgical tests required to satisfy the requirements of the terms sheet.
Q2 2023 â OBJECTIVES
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Complete the evacuation/ventilation chimney and connect with the old workings to provide improved ventilation and safety for our operations.
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Develop and complete a comprehensive metallurgical study to evaluate the viability of using gravimetric plants for the concentration and recovery of gold in AURYNâs ore, with the aim of finding a higher margin alternative for processing and sale. Based on the results of the study, we can make informed decisions regarding the most efficient and profitable method of gold recovery and concentrate production.
OUTLOOK
Communications
AURYN will continue to publish required financial disclosures at OTC Markets. Quarterly shareholder updates will also be released on OTC Markets and on our website during the first week of each calendar quarter along with a gallery of images and videos. To receive notification of these via email, subscribe on our website. For occasional intra-quarter updates, follow @aurynmining on Twitter.
Mining
With the intersection of the high-grade Don Luis vein, management remains bullish. Our mining team will await the results of the metallurgical studies to determine the next course of action regarding production
Financial
To date, a third party is paying for AURYNâs exploration efforts. AURYNâs Board of Directors is monitoring expenditures with a commitment to reimburse the third party (without interest) from production. There are 70,000,000 common shares issued and outstanding and AURYN does not anticipate any dilution from our exploration efforts.
AURYNâs plan is to use future cash flow from production to pay off exploration debts and expand operations. Managementâs desire is to eventually become debt-free and produce fully audited financials prior to seeking to move to a higher tier on the OTC Markets.
For further information please visit our website, https://aurynminingcorp.com.
Submitted on behalf of the Board of Directors.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of managementâs expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
Contact Information
Auryn Mining Corporation
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Making progress 
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No mention of the results of the new samples from the entirely uncovered DL2 per the 1/27/23 update
I recall a tweet saying the results came in as expected and in line with initial assays. I assume that is all weâll get until metallurgy is done.
This from the update is pretty instructive!
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Thanks Wiz! Indeed it is.
Back to MOUs
This is sounding familiar
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This must be the reason why we brought on Burstein and Dingley.
This is very surprising to me. Im not questioning the validity of it, just seems strange that a mining powerhouse country such as Chile wouldnât have this.
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I think this might be why. Not saying there arenât any, just saying the labs they use. Just speculating, perhaps the fund is out of Peru and is requesting it from a particular lab they want for due diligence? Donât know, just speculating on possibilities.
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Correct - maybe the fund wants to also make sure itâs not getting home cooked by some Chilean outfit that could be conspiring with Auryn (not that I believe something like that would happen). You canât blame them for wanting to be careful and using professionals theyâve used before.