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13:46
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Originally posted by oilskin
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There will be remnant mineralisation throughout the periphery of each of these Adits. Probably not sufficient for commercialisation, but at high enough grade to be a valuable add on to an established operation. EUC simply needs to identify an untouched deposit, nearby, within or below the current system. If a single shallow high grade vein is found, then it's likely to be mined and quickly. The technology for this type of underground mining is exceptionally different to anything this region has ever seen. These mines are bloody old and soooo extensive. A real rabbit warren. Lots of "lower grade" ore seems to have been ignored or discarded, grade which is now highly valuable. One vein at these historical grades could be astronomically valuable. Looking at the historical grades, which are very high to extremely high, potential exists for a small scale exceptionally profitable operation. As for the wider area, drilling can take care of that along with DHEM. There is a clear basal contact here below the main system. Another big question hanging over this mine is the location of the main entry point of the magma ejection and where other NiS/Co lenses may have formed. My understanding is that these hydrothermal veins form from rapid ejection through faults or fissures in the surrounding rock strata and then precipitate. There is likely to be a point of entry for this melt. The other exciting thing about this vein system is it's complexity. If the main prize is Co, there will also be massive credit for Ag,Ni,Sb,etc. If you get a chance to look at the size of the mullock heaps there, you will see that potential exists for recovery from loose gravel . All dependent on the cut off grade of the initial mining, but bear in mind that this was mined from 1780-1897! As someone just mentioned, if Bellevue is any indication of what might lie around an existing mine, then we may be in for one hell of a ride.
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High risk high reward here at EUC, am no geologist but don't think they would have got that $20m buy in, if they didn't have something really compelling.
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