One more tought
posted on
Jun 02, 2010 09:23AM
Yes, a BIG HIT and only more big hits are coming
This is only information from FNV to see how significant Cu hit is.
As of January 15, 2009, Augusta reported that Measured and Indicated resources at Rosemont, assuming a 0.15% copper cut-off and $1.85/lb copper price , included 105.1 million tonnes of oxide and mixed ore, and 596.8 million tonnes of sulfide mineralization containing 6.17 billion pounds of copper, 176 million pounds of molybdenum and 72 million ounces of silver. Proven and Probable reserves, which are included in the above resources, were 70.0 million tonnes of oxide ore and 546.3 million tonnes of sulfide ore containing 5.15 billion pounds of copper, 164 million pounds of molybdenum and 66 million ounces of silver.
And results from bmk:
Mr. Butler notes, "Regionally, McNugget has three VMS mineralized greenstone fold limbs (to the north, west and southeast - likely the same stratigraphic suite) all of which have now yielded VMS mineralization over a potential cumulative strike length of approximately 20 km . A new VMS camp with characteristics similar to those seen at Matagami or Noranda in Quebec is now conceivable (i.e., larger VMS deposits with satellite deposits along strike )."
On the north fold limb, a fence of 5 new diamond drill holes has intercepted Cu-rich VMS along a strike length of ~1 km (still open along strike and to depth ) with preliminary assays of >1% Cu . Drill hole MN-10-90 had a greater than 4.5m intersection with a >1% Cu zone , and drill hole MN10-102 a 15m >1% Cu zone (1% is the limit of the preliminary assay technique used). This >1 km zone also has strong zinc (Zn) values. A second VMS target at the nose of the north and west fold limbs appears to be a plunging Zn-Cu-rich VMS body. Drill hole MN10-104 cut spectacular 10cm wide bands of sphalerite (Zn sulphide) throughout a 30m wide massive sulphide horizon . Drill hole MN10-112 (assays pending) was drilled along strike and at a greater depth to the east (approximately 100m) on this body. Field analysis of drill core suggests a potential VMS feeder zone in the vicinity. This is really Big! Hang on to your shares! GLTA!