Ann: Tabac Project- Intersection of Potential Cobalt Bearing Zone, page-285

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allgrin

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17/05/17

20:58

Post #: 24754191
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Originally posted by Pointyfigures ↑

I rarely post but this is fun. Love the banter.

For those who are interested...
I have cut 1000's metes of core, most of it harder than the stromatolitic limestone/dolomite referred to in the reports. A blade would cut this stuff like butter with little deterioration.
A sample of stromatolite is sitting on a shelf outside my home, cut with one of these saws, sourced from near the base of Mt Keith. Saw blade disintegration is extremely questionable. Used to kick a few rocks when working in the area.
HSS diamond saw blades contain equivalent amounts of tungsten, which do not appear in the reports.
Around 1983, cobalt had come off a massive price spike in 1979, equivalent to $250,000 t at today's prices, while tungsten was thought of as the next big thing. In 1983, prices for the 2 commodities were similar.
Nickel mines such as Perseverence (Leinster) contain cobalt as a by-product and other drilling in the area also display high cobalt levels.
While not familiar with practices of other mining companies, most core was cut on site (exploration camp), bagged then sent for analysis. Trays were then stored outdoors on racks. There was nearly 300 km of rough gravel road, not conducive to transporting trays of core and maintaining integrity. Sending a drum full of sample bags was cheaper and more efficient than sending trays of core to Perth or Kalgoorlie.
I used to photograph the core, as core can deteriorate rapidly when exposed to the elements. If felt marker was used to identify trays (standard practice), this disappeared very quickly as well. I had to rely on photographic evidence more than once for re-sampling. Change the method of tray marking when paint based markers became available. Exploration bases were less well managed.

Begs the question - where did the Co come from? Not to mention the missing Au in re-sampling. Note - these Au levels were considered insignificant at the time with nothing under about 10 g/t sparking interest. Used to prospect around a 1920's mine called Joe's bore which I suspect SAR are now digging up.

Bit of trivia - An ROT was visible gold would assay at a minimum of 30 g/t.

Seeding - possible given the previous prices for Co. The temptation would be great. If it was done then they chickened out and had to come up with a plausible excuse.
Didn't see a reference to when the re-sampling was done. Easy enough to make mistakes and the huge discrepancy in results is interesting which also should have been questioned.
If seeded then it was expertly done. Extremely unlikely.

At the time, these levels of Co were unheard of. Disbelief would have reigned supreme.

Given the description of core from the offset hole, I have taken a small position (yesterday). With RIR starting a second hole before results are published added confidence.

No matter what happens, this is a great story and the truth may never be known if there is no Co or Au. I am in for the ride and look forward to the outcome. I have backed CZN for exactly the same reason - the joy of speculation and backing the next big winner.

Just don't put the house on it.

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Hellow everyone i remember my child hood days going out (6or 7) looking for gold in 1955 as a child pick a sack and looking for gold as a kid got sack amd lot quarts (rock) in coolgardie it was that high it procked our tent as we lived in it was wamer but mr brown found 10KG of gold but we did not have experience ,who won FAIRDUKIM.

RIR Price at posting: 2.2¢ Sentiment: Buy Disclosure: Held
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Ann: Tabac Project- Intersection of Potential Cobalt Bearing Zone, page-285

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