new is out on auryn…
Post the news here please
Positive Results in the Environmental Survey at Caren-Merlin-Fortuna Area in the Altos de Lipangue Project
(January 13 th at 1:53:00 pm)
Highlights
Environmental, archeological, mining liability data and water samples were collected.
Over 400 hectares were examined by renowned consultancy company.
Positive results for all surveys were obtained.
AURYN Mining Chile SpA is pleased to announce the completion of environmental and water monitoring at Caren-Merlin-Fortuna area in the Altos de Lipangue Project.
The initiative of the company demonstrates the proven compromise by the company to support the sustained and responsible exploration and exploitation. Therefore, AURYN Mining Chile SpA decided to evaluate the environmental status previous to the next drilling exploration and early production in the Caren-Merlin-Fortuna area located in the Altos de Lipangue Project.
The environmental survey in Caren-Merlin-Fortuna area was executed by the renowned private consultancy IAL Ambiental INERCO based in Santiago, Chile.
Very important data of fauna, flora, archaeology and old mining liability was collected in view to define further exploration and exploitation works in the area, with the concern of minimizing their impact.
The AURYN Mining Chile SpA exploration and exploitation teams will follow special attention in recommendations proposed by the consultant company for the next platforms construction, drilling activities and early production opportunities.
In addition to environmental survey, water samples were collected by the IAL Ambiental INERCO crew, the samples sites were located in three (3) strategical points:
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Small stream in the central sector of the area involved.
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At the entrance of an adit in the old Fortuna de Lampa Mine. The sample was collected specifically in the underground water outflow from the adit.
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Downstream from the project, in a small stream located in the access road of the project.
The results obtained in the samples presents good quality for streams, and some alterations in sulphates and manganese values for underground waters.
AURYN Mining Chile SpA will maintain a follow up to water quality with continuous sampling in different seasons.
. Location of Environmental survey and water samples collected
Figure 1. Location of Environmental survey and water samples collected.
« Discovery of Bonanza Gold Grades at Caren Mine within the Altos de Lipangue Project.
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Early production sighted again in this announcement
I would think it safe to say that all this is not just for core drilling.
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This was put out because it had to be done before they could start production I believe.
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This is not the news that LP told several shareholders about. I’m not surprised. This won’t trigger Buying from AMC or anyone else of size. Lucy removes the football again.
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That’s probably why someone has been selling for the past 3 days. They knew that the News that Auryn was putting out wasn’t going to move the SP so they figure sell and reload jmo
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For what it is worth, that isn’t the news the rumor was about. That news isn’t due until tomorrow, I guess.
We are trading at a 5 cent discount to our “fair”, "minimum, fundamental value. This means that fundamental news (assays, geo data, etc.) will not move the stock. We need news of the more “technical” nature. JJ selling his shares would be a great start.
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I think that both Chile’s “Environment Act” and their “Environmental Impact Assessment System” (SEIA) mandate that prior to PRODUCTION activities you need to get a baseline reading for water purity in your ore extraction area. This way they can tell if you’re misbehaving or not in your production activities from an environmental point of view. I don’t recall any need to commission a formal study like this prior to drilling activities.
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I hate to rain of everyone’s parade, but this really good news. While the area covered is only 400 hectres, before dirt can be turned you have to sample the water streams to get a baseline, do a archeological study to make sure you are mining on some burial grounds, etc. and determine what, in any endangered species of animals and fauna there are. While totally preliminary, this is how a mine is put into production.
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Somebody indicated to me that more news is coming from Auryn. Today’s news was interesting and important in its own right but wasn’t what I’ve been waiting for. (This probably needed to come out before they release the next news.)
However, it does represent yet another indication that Auryn has completely flipped the news spigot to the ON position.
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Interesting since I was told they were going to put out news on four properties that they plan to put into early production.
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There is supposed to be more coming. Wait and see . . .
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MDMNH,
I know your position has been they will not just blast rocks and haul ore to some distant processing spot.
But the news is rather unrelenting that they intend to do SOMETHING ASAP. We know they have no ADL local facilities. And we know it would take quite till the end of the JV/Option to build anything significant.
yet they specifically mentioned the 5000 tpm permitting that they have in place. That would only be about 8 20-tonne trucks per day. And they apparently have gone out of their way to negotiate early production rights in the pre-option period with MDMN. Why negotiate such if they intend to do nothing until post Aug 2017?
Questions:
- In the very short term (6 to 12 mos) what other option would they have than blasting and hauling rocks? Perhaps there is some rentable or useable partial processing facilities near by to make concentrate?
- Even if they were going to simply blast and haul the highest grade stuff they could find, since the leached surface is considerably lower grade, I wonder how deep they would have to go to get useable rock. I think the Howe report speaks of a 15m or 20m leach cap. I’ll have to look for that again.
If they are intending some type of RTO gymnastics, doing such early production to establish some type of cash flow, even if modestly profitable, could prove to be valuable in a secondary sense to establish short term cash flow credibility and maximize any market value they may be able to get.
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YIKES…Decent news… .019 on the ask…No buyers…
That is only part of it. It should be much more all inclusive.
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