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if TRY were letting barrick drill at smarts for barrick to...

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julians

775 Posts.

250

07/12/21

12:09

Post #: 58126380
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Originally posted by Justis: ↑

Yes I noted that in a previous post

We have speculated that the reason for the long voluntary suspension is so Barrick can do some drilling on the smarts underground, try had only done enough drilling at smarts underground to prove Maiden Ore Reserve of 1,082,000 tonnes @ 2.6 g/t Au for 89,400 ounces

And that allowed for Preliminary economic assessment is for an initial 2.5 year mine life, LOM revenue of US$137 million and net cashflow of US$47 million

That alone would not meet the criteria for Barrick but try had not drilled as extensively as they should have time and money constraints, they just wanted to get Smarts underground started. Smarts underground has Mineral Resource of 3 million tonnes @ 3.0 g/t Au for 287,600 ounces so that alone suggests more could be converted to ore reserves and to that mineralisation was open at depth.

While plenty of gold in Guyana has been found near surface, at the Aroura mine they have found mineralisation that could extend 2km down and near by Omia they are drilling below the two pits and found mineralisation 1km down. Try have only drilled down about 350m at smarts underground, also there is know mineralisation under the Hicks pit known as Hicks deeps so again pointing to ore deeper down

The earn in agreement with Barrick was for mostly Brown field tenements and didn't include tenements around the existing mines so the idea that Barrick is a "Sub contracting" drilling at smarts underground seems to be cover for what is actually happening.

In a nut shell we know Barrick are keen on Guyana, Try are cash strapped and with Barrick already having a earn in agreement with TRY it makes perfect sense that Barrick would want to take a closer look at Try as a whole.

LOL not much we can do but speculate while we wait for an announcement and even if the speculation is right that Barrick is evaluating try as a whole we can only hope that it turns out positive for SH

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if TRY were letting barrick drill at smarts for barrick to confirm grades/resources is TRY legally obligated to say this to asx as we in trading halt?

TRY Price at posting: 3.7¢ Sentiment: Hold Disclosure: Held
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