Auryn/Medinah - 2023 1st Half General Discussion

Per the December 23 shareholder notification:

" … and we anticipate having the initial results back for publication during our Q4 update in the beginning of January."

QUESTION: Is it still the beginning of January?

ANSWER: No - I’d say it’s about the MIDDLE of January, wouldn’t you?

Folks, seems to me the company either got real GOOD or real BAD news and they may be re-checking it, as in resubmitting the samples to the lab. I could be wrong, but something tells me we’re in for a NICE surprise to the upside.

Did we really hit the SGE zone?

Are assays still getting more prolific as they go down?

Drama.

Y’all have a good weekend.

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If they didn’t feel confident that the really hit the DL vein this time, I don’t think they would have put the December update out. They wouldn’t want to go 3 in a row of missing it. I say it’s all up from here🤞

Let’s see those results

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Hello…MDMN people… just wondering if site is down?? Thanks I.A.

                    C.s.

Everyone just waiting, I think everything that wanted to be said has been said some things a million times.
Patience is needed now just patience… I can hear a pin drop…
I now what George’s reply would be? LOL

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MILLION DOLLAR QUESTION: Did they get assay results that are better than what they expected? Or worse? We’re sitting in the front ONE-INCH of our chairs like first-year plebes waiting to find out.

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I think that rock in the tweet says it all!

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In case anyone is wondering, that little flurry of MDMN trading an hour ago was not one of the old “whales” returning, was not the Smart Money, was not an insider stepping in.

I just got a call from a friend of mine who has listened to me talk about MDMN for eleven-plus years, and who asks me about it every time we get together, including just last week.

I told her about Medinah hitting The Insane Vein (“La Vena Loca” says google translate), and the report we are all waiting on.

This morning she bought 3.5 million shares in three separate trades at .0017 and .0018.

If I did not know this, I would be wondering, “Is it really finally starting?”

Well, it may soon be starting, as we all surely hope, but this little blip was just a friend of mine, one degree more clueless than I am.

Thought you should know.

– madmen

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Gold peaking at great time for this investment. Would be nice to start thinking about how long it will take for MC to get his working capital loan paid back in full. Then we can start talking about turning a real profit and at what clip.

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ETrade alerted me awhile ago that there were over 5,700,000 shares sold - I thought for a fleeting moment this was it, but then I quickly sobered up once remembering that Madmen’s friend bought a couple million this morning.

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I remember all my ex friends I recommended Mdmn to

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LOL. “EX FRIENDS”, I think a lot of us have been in the same boat !

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Could be they got the Assays and are writing up that full detailed report. This is a big update, probably the biggest ever. Let’s see what’s in the box :smiley:

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Oh yea, those X-Friends… Some still come by and kick MDMN sand in my face, like the old Atlas muscle building ads in the Popular Mechanics magazine of old.
The ad showed this Skinny little guy, getting a kick of sand shot at him by the muscle-air-e-ass beach bum type. (not the gentleman beach bum like our TraderRick) … but I hold back, back, thinking … one of these days, one of these days Alice… , “To the moon Alice” to the moon. C.š

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I’d just add …

… we look forward to a prosperous new year.
Sincerely,
Maurizio Cordova
CEO and Chairman of the Board, AURYN Mining Corporation



There’s much more that can and will be said. :slightly_smiling_face:
Wait for it!

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ETrade just notified me there’s been over 7 Million shares of volume today, and I KNOW Madmen doesn’t have a girlfriend that’ll buy that many. Bald Eagle must be loading up!

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I got a few at .0015 for fun.

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Hi JimmyP,

Thanx for reposting that picture from Auryn twitter in a format that we could enlarge and see a lot greater detail than the twitter version showed. It’s on post # 42 (currently of 57) on the Q-1 of 2023 TMP forum. If you hit the blue “+” sign twice you’ll get a nice magnified image. I didn’t feel comfortable in commenting on that twitter version of that photograph but now that I can magnify it quite a bit, I think there’s some information that might be helpful.

I’m at a bit of an impasse here because I know what the evidence says as to what range of grades to expect in these upcoming samples. Everything in the medical world is now “evidence-based”. I don’t know why geology would be any different. The problem for me is that the “over-under” for these upcoming assays is so much higher than the worldwide average gold grade being mined that I thought, in the past, that I’d better zip it until the official numbers come out. Recently, Kevin made the comment that the rock in this tweet “says it all”. The question then becomes, what is this rock sample, and many dozens of others in the Auryn website gallery, trying to “say”?

I hate to go Geo-dork on you guys but there is some very compelling evidence in this photograph. I’m always rambling on about two types of very favorable zones that can occur in hydrothermal mineral deposits. The first is a SUPERGENE ENRICHMENT ZONE or SGE zone. What happens here is that “pyrite” (iron sulfide) gets oxidized near surface by the oxygen dissolved in meteoric/rain water and this makes the environment acidic. The acids convert metal “sulfides” into “sulfates”. Sulfates are very soluble and they’ll get dissolved in the surrounding fluids and drop downwards through the various rock strata until they hit the historical water table. Here, especially the copper sulfates, pile up and get converted into copper minerals with VERY HIGH COPPER CONCENTRATIONS. These include that bluish bornite we’ve been witnessing, plus covellite and chalcocite which is 80% pure copper.

If a deposit is fortunate enough to have SUPERGENE ENRICHMENT, these zones can be vertically very extensive and can go for several hundred meters. In a 91-million-year-old deposit like this one, the “historical water table” would have been all over the map at various levels through droughts and floods. A couple of weeks ago, I cited a study by a couple of Geo-professors from Illinois that was featured in ECONOMIC GEOLOGY. They concluded that when “bornite” is present, the concentrations of gold in these SGE zones can be almost twice its usual concentration. High-grade gold loves to hang out with bornite. These SGE zones are most famous for hyper-concentrating copper but they also hyper-concentrate gold.

In the photo, you can see the shiny yellow stuff amidst all of that what appears to be bluish-colored bornite. Technically, the shiny yellow stuff could be gold, pyrite or chalcopyrite which can all present similarly. There are actually 2 types of “fool’s gold”. They are pyrite and chalcopyrite. “Chalco-“ refers to copper. Chalcopyrite (36% copper) is the most common form of copper ore mined worldwide. Gold happens to also love to hang out with pyrite. In a sense, anything yellowish with a metallic lustre hanging out with bornite is a very good thing. If you’ve studied enough ore samples, pyrite is really pretty easy to distinguish from gold. It’s much harder than gold and it’s shinier than gold because of its cubic crystals. When you tilt a sample of pyrite and the light hits it at just the right angle you about get blinded. Gold just exudes a consistent but boring yellow without too much flash no matter how you tilt the sample and very little crystalline structure will show. If you stab gold with your pocket knife, it will dent in. Both pyrite and chalcopyrite will break off and crumble.

The other “zone” of importance in some but not all gold deposits is the “boiling zone”. Gold travels in a dissolved form, with sulfur in magmatic/hydrothermal fluids at insanely hot temperatures. These fluids/gases are so hot that they actually need to cool in order to boil. Boiling provides enough energy to sever the bond between the sulfur and the gold which allows the gold to precipitate out as a solid and get deposited locally often IN VERY HIGH CONCENTRATIONS.

Gold also likes to hang out with quartz, which is silicon dioxide. The quartz travels in a dissolved state also. In areas of rapid cooling (boiling zones) the quartz cools so fast that it doesn’t have time to form nice crystals. This type of quartz is known as “chalcedonic quartz”, “milk quartz”, “cryptocrystalline quartz” or “aphanitic quartz”. You can see this stuff all over that sample JimmyP posted. Notice how the milk quartz hangs pretty close to the shiny yellow stuff.

No promises, but we could have the best of both worlds and have both an SGE zone and an overlapping “boiling zone”. We might have both a “bornite effect” and a “boiling zone” effect acting simultaneously to hyper-concentrate the gold. If we do have high concentrations of BOTH gold and copper in these upcoming samples, then this phenomenon might extend downwards for a significant distance because of the vertical widths of these zones. Fingers crossed. For me, this picture screams out, “stay tuned for not just what’s going on at this level in the vein structure but also WHAT IS GOING ON UNDERNEATH IT FOR PERHAPS QUITE AN EXTENT. The presence of bornite, milk quartz and shiny yellow stuff all in one area is pretty compelling.

The other thing you need to keep in mind is that the DL1 Vein is a MESOTHERMAL VEIN. It is vertically very extensive. These “zones” are going to tend to be a little more extensive vertically than they would otherwise be in simple epithermal veins.

The point should be made that management, no doubt, already knows what that shiny yellow stuff is. The miners will have a “PIMA” on site (Portable Infra-red Mineral Analyzer). This is an infra-red gun that you aim at a sample and it will tell you what metal is being aimed at. The miners will also have a piece of unglazed porcelain on them as well as a pocket knife. When you scratch a shiny yellow metallic sample against unglazed porcelain, the metal will leave a line on the porcelain known as its “streak”. These are very diagnostic of which metal is present. Gold has a yellow streak. Although also shiny and yellow, pyrite has a greenish-black streak and chalcopyrite has a greenish-gray streak.

As far as “visible gold” goes, we’ve all seen it but it really is EXTREMELY rare. It doesn’t seem rare because every time a junior explorer discovers some they’ll put a picture of it in your face. There is not a very good consensus as to what grade of gold is needed to present as “visible gold”. High-grade gold loves to hang out hidden in relatively ugly-looking rock also, especially rocks containing sulfides.

Once the assay samples are finally posted, you need to immediately correlate them with the grades we’ve experienced right above the current level of the Antonino Adit which is the new “Level 3”. It’s nice when assay samples have some CONTEXT from historical production figures. Near surface level 0 grades averaged about 54 gpt gold historically. Level 1 averaged about 64 gpt gold and level 2 averaged about 74 gpt gold. The 12 samples taken by Auryn where shaft A intersects level 2 were pretty much in line with that 74 gpt figure. In fact, the first 11 samples averaged 57 gpt gold but the 12th sample came in at an insane 1,220 gpt gold and an equally insane 2,650 gpt silver. I don’t think those 2 figures are necessarily easily “repeatable” or “representative” but they are what they are. “Boiling zones” can often host gold with a nuggety nature. For benchmarking purposes, the average grade of gold being mined worldwide is 1.29 gpt gold. This includes both open pits and underground operations. In underground operations, the average grade being mined is 4.15 gpt gold.

Here’s a link to a picture of a pretty classic presentation of bornite, gold and quartz:

File:Gold-bornite-quartz hydrothermal vein (Field’s Vein, Dahlonega Mining District, Dahlonega Gold Belt, Lumpkin County, Georgia, USA) (16537558623).jpg - Wikimedia Commons

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Thank you as always Doc! Question there was an update from Auryn stating that they were seeing lots of water as they were getting closer to the DL Vein. Where is this water coming from the “water table”?

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BB,
Kudos! You’ve written more than a textbook full of “Geo-dork” stuff over the years and mentioned many possibilities. Just wanted to repost a few comments. Your comments are so extensive it’s hard to remember them all, but then again the ADL is a very large and diverse ore deposit. A couple years ago you mentioned:

High-grade ore zones in low-sulfidation epithermal deposits are commonly associated with the occurrence of banded quartz veins. The ore minerals in these veins are heterogeneously distributed and are mostly confined to ginguro bands, which can be identified in hand specimen based on their distinct dark gray to black color. Micro-X-ray fluorescence element maps obtained on representative samples of banded quartz veins show that Au occurs together with Ag minerals in some of the ginguro bands, but Au can also be present in quartz bands that are light gray to white and cannot be macroscopically distinguished from barren bands. The occurrence of compositionally distinct ginguro and gankin bands, the latter being a new term coined here for colloform quartz bands containing primarily electrum or native gold, can be explained by temporal changes in the composition of the ore-forming thermal waters or variations in the conditions of ore deposition. Textural relationships, including the dendritic shape of ore minerals that appear to have grown in a matrix of silica microspheres, suggest that the ginguro and gankin bands have formed as a result of rapid deposition associated with vigorous boiling or flashing of the thermal waters. (Aug 2021)

But much earlier on Oct 16, 2016 you wrote:

One of the 4 layers is the “carbonate layer” in which the gold is surrounded by different forms of “calcium carbonate”. One of the most stable forms of Calcium Carbonate is this stuff called “calcite” which is a cousin of “limestone”. “Chalk” is made of “calcite”. The ADL deposit formed about 91 million years ago during the “Cretaceous Age”. “Creta-” is Latin for “chalk”. Cretaceous Aged deposits have a lot of calcium carbonate in them. These are “sedimentary” rocks that came from the sea floor which represent the skeletal fragments of marine organisms like coral and mollusks.

I think a lot of us would prefer to see “visible gold” in a milky white quartz vein. Actually a lot of the higher concentrations of gold is contained in very boring looking rock like this gray stuff we see. Oftentimes the uglier the rock the better the grade.

(The “ugly” but beautiful sample below is from 2021)

And in Feb 2022:

The one with the 2 parallel veinlets shows classical “banding”. You can see the alternating lighter and darker areas. A lot of the time, it’s the darker bands consisting of “ginguro”, that carry the crazy gold grades. I’ll provide a link in a moment to a really good article on high-grade gold associated with “banding”. Each “band” represents a different phase of mineralization from ore-bearing hydrothermal fluids and gases perfusing the host rock. “Banding” is a very good thing.


The second link shows some of the best-looking ore I’ve ever seen at the ADL. You’ve got the supergene enriched copper sitting right next to the SHINY YELLOW STUFF. Either of these could carry the insanely high grades that we saw at the intersection of Shaft A and Level 2 which is near where Auryn is in the Antonino Adit currently. DON’T FORGET THE MAGNITUDE AND LOCATION OF THESE SAMPLE ASSAYS.

There are so many samples showing the complexity moving through this ore body!


It will will be the Don Luis vein that will just be the beginning “kick off” for this fabulously wealthy body of ore contained on the ADL. It is an understatement to say the patience of all shareholders has been extraordinary. I don’t doubt for a moment this mountain will be exploited for many years to come and that we will begin to see that this year. This will be the first year of many for shareholders to celebrate! That is my “hopium” for the year ahead. Now let’s see the update from Auryn with some marvelously wonderful assay results! :grin:

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