LGM 3.77% 27.5¢ legacy minerals holdings limited

Great post @WackSpecifically for LGM, I find the hematite and...

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    Great post @Wack

    Specifically for LGM, I find the hematite and illite alteration very interesting.

    At risk of over-nerding, there are two schools of thought about how the bonanza grade coloform-crustiform-ginguro zone forms in epithermal systems.

    The most commonly cited theory is that the bonanza grade epithermal ore is deposited by boiling, which only happens in specific temperature and pressure conditions, hence forming a narrow zone of high grade mineralisation close to the surface. There are some problems with this theory.

    A newer theory gaining traction (proposed by Greg Corbett and others) is fluid mixing rather than boiling:
    Boiling is a violent process that causes brecciation. While epithermal veins commonly have brecciation which is caused by boiling (phreatic explosions), the intricately banded coloform-crustiform quartz is too delicate to grow during a violent explosion and certainly grows during a lull in boiling and brecciation, so boiling can't be the method of deposition of bonanza grade crustiform-coloform mineralisation.
    Gold is not very stable in solution and is readily precipitated by a sudden change in oxidation state. The mixing of rising magmatic fluids with flat lying, near-surficial oxidising groundwaters will break the sulphide complex carrying the gold in solution and precipitate gold readily without boiling. When the fluids have dumped their gold, they continue upwards to the surface mixing with groundwater and depositing other sulphides before reaching the surface depositing barren sinters.
    An observation that backs up the fluid mixing theory is that gold grades tend to increase, often dramatically, where there is evidence of oxidising groundwater in epithermal mineralisation. Oxidising groundwater causes alteration of the rock, altering feldspars to clay, depositing hematite and depositing manganese carbonates (as opposed to calcium carbonates in neutral conditions). Where these tell tales are observed, grades are often much higher.

    We have abundant hematite and illite (clay) in the core which is strong evidence of the presence of oxidising groundwater. Evidence of oxidising groundwater in itself doesn't mean there will be high grade gold in the drill core. To find the high grade gold, we need to find the point where the rising magmatic fluids first mixed with the surficial oxidising groundwater. The veins intersected at Mee Mar are certainly the conduits for the rising magmatic fluids given the abundant sulphides and alteration, so we just need to follow them down to the bottom of the zone where the fluid mixing commenced.

    So goes the theory anyhow.

    Executive summary: LGM may be worth a punt, the good ore is probably down there. But DYOR first, don't take my word for it.


 
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