2/ Unknown Geologist:I remember Dustin asking me to highlight some key points about Goldboro. Like how many ounces of gold do we think Goldboro will host? I said to him…you've got 850,000 now, when all is said and done, Goldboro will have at least 2,000,000 ounces.
3/ I said, look at it this way, the deepest hole ever drilled in Goldboro was about 400 meters deep. Dolliver Mountain, which once hosted the largest stamp mill in the province, is 1.5 kilometers out to the west of the main ramp area.
4/ At the main ramp area, all the Dolliver Mountain material is below your feet about a kilometer or so. The property has never been drilled deeper than 300-400 meters.
5/ If I remember correctly, the max depth for most holes in Goldboro was 200-250 vertical meters. That is very common amongst all the gold properties in Nova Scotia. They didn’t have to drill deep in Goldboro because everything comes to surface.
6/ Another key point I mentioned to Dustin was about the high-grade, nuggety gold that Goldboro hosts.
7/ Jacques Levesque, the former CEO of Orex, had a promotional piece of Goldboro drill core that was about 35 centimeters in length that was glued back together. Bruce Mitchell, who is working with Anaconda now, was an Orex geologist then and we were working together at Goldboro
8/ We were logging some HQ core. Bruce logged that 35-centimeter piece of quartz as 1% gold. Nuggets a big as your thumbnail are visible in the core as well as many, many other smaller nuggets. The core was never analyzed or included in any resources at Goldboro.
9/ We took the core sample to Paul Smith at Department of Natural Resources in Halifax. Paul said it was probably the best drill core he's ever seen. We asked him how many grams per tonne he thought it might have and his guess was over 10,000 g/t.
10/ Bob Moriarty:Wow.
11/ Unknown Geologist:That quartz vein was intersected at 28 meters deep. Why not chase that one to surface? If you find anything that’s in the hundreds and/or thousands of grams-per-tonne then you're probably into a high-grade ore chute.
12/ Those are the targets Anaconda needs to focus on. Infill drill around those intercepts and it should be simple. The resources they have today will be much higher as the infill drilling proves the continuity of the high-grade gold.
2/ The roots of the porphyry system are exposed at surface approximately 8 kilometers west of their exploration area and the top of the system was split from the roots by a fault.
3/ The deposit of interest is concentrated in the top of the system and it was either moved downwards and preserved under the valley, or moved up and eroded away.
1/ The story of #CoralGold $CLH.V sale of the Robertson project to @BarrickGold is very interesting. CEO David Wolfin describes the details in 2016 interview with Jay Taylor that I found very helpful:
2/ The key consideration for Barrick's business development committee is the IRR against a baseline gold price. When negotiating the sale of the Robertson, Barrick needed the project to meet a 15% IRR at $1,250 gold.
3/ In the 2016 interview with Jay Taylor, Mr. Wolfin describes how he negotiated for the royalty to be set as high as possible at $1,250 gold and then to increase with each $200/ounce increase in the gold price up to a maximum 2.25% NSR.
1/ Coral Gold (TSX.V:CLH) has been active in Nevada for over 30 years, developing a meaningful relationship with Barrick Gold (TSX:ABX) that has already led to one significant asset sale. Coral Gold negotiated a nice royalty with a sliding scale for the NSR and annual payments...
2/ ...due if not the Robertson is not in production by 2025! Coral has several other assets nearby that could have similar success, but CEO Mr. David Wolfin has already described the royalty on the Robertson as a potential company maker.
3/ Bell Copper (TSXV:BCU) has a deal with Kennecott Exploration under Rio Tinto (LSE: RIO, ASX:RIO) for a porphyry project in Arizona that is close to becoming a copper porphyry. Bell Copper is still the majority owner for the project, but their partner is earning in quickly.
2/ Quotes from the Unknown Geologist to follow... "I know the Boston Richardson model very well."
3/ I remember reviewing a diagram of the Boston Richardson belt that shows the historic mining, and it highlights the top and bottom of an ore shoot on both limbs.
1/ In this interview with #BobMoriarty, Bob tells a story about the famous Nugget Pond Mine in Nova Scotia that strikes a chord with his excellent 2016 book "Nobody Knows Anything: Investing Basics Learn to Ignore the Experts, the Gurus and other Fools" amazon.com/Nobody-Knows-A…
2/ Bob Moriarty:Let me talk about the dumbest mining company in Canadian history. You may be familiar with it. Do you know where the Nugget Pond mine is?