Looks like I've ruffled some feathers!
I've been following LCL for a while now as the prospect is interesting and there is definitely potential. I like the strategy of defining other potential deposits nearby to make Miraflores more attractive.For a deposit to add value it needs to be practical and economical to recover. Seeing that Miroflores went in the underground direction, would it not be prudent to find out why and determine whether there are limitations to open pit mining in this location?(I'm talking environmental, social, regulations, topographical/shape of ore body etc.) I then posed that question as others may have had the same concern and found an answer. If for whatever reason open-pit is not an option, then the grades we are currently seeing at Tesorito are not as attractive. Yes, it's still early and I could be proven wrong with more holes however until then I'd rather have a more conservative stance. Also if you think it's too early in the drilling program for me to make that comment then I'd say it's much too early for people to throw around 2Moz as if 8 holes have defined that.And this is what happens when you take the company's overly optimistic report of 300m x 250m at face value. Doesn't matter how many years of experience you have if you don't take a closer look.Regarding TSO, nowhere is the company suggesting that the whole 750m length is mineralised at x g/t which is clear in the diagram. Hole 31 was indeed an infill hole that intercepted a few intervals of high grade zones and extended the depth of mineralisation of fault CC400. Hole 32 was actually extensional and when interpreting these results in context they are very exciting. Was I expecting results to have a significant(30%+) impact on share price? No. Similarly with LCL's hole 8, It mostly confirmed mineralisation in an already known area and market reaction of 100%+ is not justified on those results hence my comment on this announcement being the catalyst for a re-rate as LCL was undervalued. I'll stop here with TSO as it's not the place to discuss.
I've put in a 300m x 250m x 300m cube over Tesorito to visualise what that box you have drawn looks like under the surface. Note pink is ~1 g/t, dark pink is 1-2 g/t and yellow is <0.8 g/t.
Looking N-NW:
Looking NE:
Looking S-SE:
Still significant portions of this area that are not tested to assume that all of it is 1 g/t. If the 3 holes that company refer to at 300x250 1g/t were spread out within this cube then it would be more reasonable to make that statement.
Let's wait for these results for a slightly more accurate estimate.
