Re: slide 11 of AMC’s new deck:
- The IP (induced polarization) and CSAMT (don’t even ask) measure the “polarizability” of rocks (ability to accept an electrical charge and “light up”) as well as resistance to current flow. Low resistance equals high conductivity. What you do is put an electrical probe into the ground and measure at various stations distant to the probe the reaction of the rocks. On these 4 readings, the dark blue is pretty much the boring old “background high resistance” to electrical flow or low conductivity i.e. not many metals or metal bearing disseminated sulphides.
The green and yellowish finger shaped “stalactite looking” things coming down from the top of the figures represent higher conductivity i.e. metal bearing. That’s the good stuff that in the case of the Fortuna Vein averaged 64 gpt gold over 30 years of production. Note the relationship between the dotted lines and the figures. On the top right reading “5,800” you can see the Fortuna Vein centered in both the figure and the dotted line. Over to the left of center(west) of it you see another highly conductive structure. This is not shown on the map but clearly appears to be a similar structured vein with the same conductivity.
On the figure corresponding to “5,500” you can see the wide Fortuna Vein right of center which nicely corresponds to right of center of the corresponding dotted line. Then you see what appears to be a red (super highly conductive, low resistance) jewelry store looking figure that the miners apparently missed. This did not make it to surface and those miners had no technology to find this. This is called a “subparallel” vein because it is lower than the FV and parallel to it.
On the other 2 figures you can see vein like structures not shown on the map. You can print off this page like I did and add these to the map. The dotted line “lineaments” shown are the surface showings of the faults that host the veins. You can see them from an aerial view but they haven’t been trenched yet and sampled. The yellow on the map that surrounds the red linear veins represents Argillic alteration that is often associated with veins formed by hydrothermal fluids that entered into cracks in the rock and later cooled. The argillic alteration represents “cooked” nearby rocks that got converted into clay. On this map there is a lot more vein structure than shown by the red lines. When you add the “lineaments” and the greenish-yellow stalactite looking figures you can see that this “Merlin alley” has a lot going on and these veins extend to about 400 meters in the case of the red conductivity high shown in the second figure labeled “5,500”. This represents 5,500 meters from some fixed point to the south.
All of those arrows citing “open” means that the terminus of these various veins have not been found yet. Argillic alteration with “boxwork” or “honeycombed” patterns found at surface are highly suggestive that supergene enrichment is below surface. This would explain the 64 gpt gold at the FV and the 27 gpt gold at surface in the Merlin 1 Vein. Those are very big numbers and these are very big veins. The metals (usually in sulfate form) that used to be inside of the boxworks/honeycomb has been dissolved and transported lower. To date AMC has discovered over 5,000 meters of veins that made it to surface. There could be multiples or fractions of that under the surface. It’s nice to know that the IP/CSAMT readings correlate nicely with the argillic alteration/veins. I don’t know how extensive of an IP program they have done to date but I would guess that there’s going to be plenty more done using varying dipole configurations to look at various depths.
It’s interesting here how the unlabeled Merlin 1 Vein to the far left of the map that runs into the Caren Mine crosses the granodiorite and goes into the ocoitic (porphyritic) andesite. This suggests that the veins came later in the sequence of intrusions from down below. The average “gold mine” involves veins averaging about 2 to 4 gpt gold. A lot of times these are in lousy infrastructural areas in geopolitically unsafe regions. Although the share price is 180-degrees antipodal to the geologic findings this is pretty good stuff they’re finding in this area. If we end up with 10 Km of veins here averaging 1 meter in width and only 200 meters in depth and the same 27 gpt gold found at surface at M 1 you’re looking at about 4.6 million ounces of gold in situ (in place). That 27 gpt gold at surface at the M 1-M 5 is going to be hard to match but we’ll see. I would suggest, however, that the Pegaso Nero findings will totally blow away even these findings. And no, I’m not obsessed with this deposit and you can even ask my cats Merlin and Fortuna!