Peterrrrrrrrr Bell Profile picture
Jan 9, 2018 14 tweets 3 min read Read on X
1/ Goldboro! Part 1 of #NewtonInterviews The Unknown Geologist on the geological model for this exciting gold project in Nova Scotia, Canada owned by @Anaconda_Mining: ceo.ca/@Newton/findin…
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.
4/ If you use the Boston Richardson as a model for what the other belts should look like, then there's no reason why each one of them shouldn't have a high-grade concentration somewhere, probably due to a secondary flexure on the main anticline.
5/ That type of structural control can create dilation zones, which are the areas where the really good stuff gets concentrated. If you flex the rock in a certain way, then you'll get more of a concentration of liquid in certain areas than others.
6/ All this affects how you approach exploration drilling. What Osisko did was a perfect example: they went out there and drilled every 25 meters on the north and south side of the anticline because gold occurs on both limbs.
7/ They drilled a hole and they'd get three or four intersections of really nice stuff, which is like 6 grams or better based on what I used to see at Forest Hill.
8/ When you have so many belts to drill through, you can hit this stuff in many different places and Osisko was trying to tie it all together into a massive open pit model, but ...
9/ no one has ever said, "There are 6+ grams in that one belt here – let’s see if that continues up and down dip by drilling 25 meters east or west of that 6+ intersection."
10/ Anaconda now knows about quite a few of these high-grade intersections with hundreds, if not thousands, of grams per tonne. I saw those at Forest Hill, too – not many of them, but a few.
11/ And every single time that we had a thousand grams per tonne, we were in the middle of the ore shoot. Even when we were in the hundreds of grams per tonne, we were in an ore shoot.
12/ I think Anaconda should start with all those thousand and hundreds of grams per tonne intersections. Just start looking there and do their infill drilling up and down dip based on those known high-grade intersections. There are so many belts that they could look at and...
13/ ...each one will have an ore shoot or two, so you could quickly get overwhelmed by the number of targets out there. What a GREAT problem to have!
14/ Thanks to the Unknown Geologist for his comments on @Anaconda_Mining's Goldboro project. See more here: ceo.ca/@Newton/findin… $ANX

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More from @PeterNBell

Jan 15, 2018
1/ Shoutout #ESSCO Earth Science Services Corp. earthscienceservices.ca and the Stargate II (SGII) system.
2/ The SGII team always has some interesting things to say on CEO.CA -- see ceo.ca/Stargate2 for more.
3/ The SGII system is used to help guide drilling activity. See this map for an example: cdn.ceo.ca.s3-us-west-2.amazonaws.com/1d5kbfe-Fuller… Map that only a geologist could love...
Read 24 tweets
Jan 15, 2018
1/ .@BellCopperBCU has a great exploration story at Kabba. See my thoughts on the #copper play in Arizona here: ceo.ca/@Newton/a-loom…
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.
Read 12 tweets
Jan 15, 2018
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.
Read 14 tweets
Jan 15, 2018
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.
Read 9 tweets
Jan 8, 2018
1/ Find out what The Unknown Geologist has to say about the @Anaconda_Mining Goldboro Project in Nova Scotia, Canada: ceo.ca/@Newton/more-f…
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.
Read 13 tweets
Jan 8, 2018
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?
3/ The Unknown Geo:Yes.
Read 22 tweets

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