Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.
Ann: Hot Chili Presentation RIU Fremantle Explorers Conference, page-28
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Announcement from ERM has made my day. :)
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Fairly certain there has been no drill testing below the "main pit" so far. Only two holes in the minor pit area #4 and a sub parallel hole 25-8. Does depend where the Pit actually is which is not too clear from this view on GE. As shown on this early image it extends further SE as a string of workings.
Zooming out on the Google Earth image for La Verde. [Symbols annotated below same above, Yellow for approx traces of new holes since the first 12 reported eyeballed onto this plan.]
Sentinel is throwing up some spurious activity that is not reflected in the plan view from the Presentation. In particular 25 11, 13 and the site west of the main pit which may be site preparation or just some logistical activity.
While putting things onto GE is re-inventing the wheel a bit, the process does help me get a feel for what is going on.
The hole traces are coded for lithology and grade (where available). This does show the outlines of where intrusives might be especially in the SW hole that has been completed where a western boundary is present.
Projecting to a sections involves 3D considerations which the above might lack and give a poor representation. If the southern hole is the one I labled 25-12 then it has been projected >150m to this section and the margin of the intrusive is IMO not closed off as shown and hopefully open to the SSW with associated economic potential. The western margin of the intrusive is present in the upper part of 25-12 - one hole that needs confirmation by further drilling.
Cover increases to the south in long section. The gap between base of oxide and top of fresh does increase.
Boring details, probably, many of which need to be digested by the team and plan holes on available sites.
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Grade?
100m+ intersections reported are giving 0.3-0.5% Cu and 0.1+ g/t Au.
This grade range is why I said the Dos Amigos MRE could be a good guide for La Verde's initial numbers for grade. Perhaps a tad lower for Au at La Verde.
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volume and tonnes?
As a rule of thumb for porphyries a 300m cube is roughly 100 Mt.
The rough surface area of intrusive at La Verde is some 600m by 300m. Very poorly defined so far but for order of magnitude potential estimates that are not to be taken seriously possibly reasonable.
Some reported mineralisation is from surface to 300 vertical meters and open, apparently.
6 x 300m cubes = 600 Mt. DYOR.
There are barren dykes and other complexities so 300Mt is a possible number...
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Barren dykes, I believe, have been factored into the bulk 100+m intersections reported which probably means the mineralised intrusives have somewhat higher grades that could be realised by selective mining and/or sorting. Mentioned yesterday but didn't go into enough detail to be clear.
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Dos Amigos at 0.26 g/t Au vs La Verde.
A major factor in deciding whether a deposit is economic comes from the cost of transport.
For La Verde the cost would be around 0.1 g/t Au hence this puts it in the economic range HCH are considering.
Cometa is more remote and would need better grades so it is currently on the back burner.
The rope cable conveyor is still the preferred economic option for Cortadera to Productora. Bit surprised to here that only 8 pylons will be needed along with a very small environmental impact. Crossing the Pan AM is a major concern with safety uppermost.
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Quick comments on other deposits by Chris - resource geo.
Marsellesa - small manto related.
Cordillera - some interest but postage sized tenure didn't allow for proper testing. Surrounding ground here, and elsewhere, held by CMP the JV partner on key tenure at Productora. Might be some possibility of a deal.....or not.
San Antonio drilled to indicated and is what it is a small relatively high grade deposit.
Valentino - irregular, pinch and swell, small and of low potential for HCH - my words.
Domeyko area has a lot of targets/prospects which are constantly being re-evaluated. Panacea area saw drilling by Hudbay but HCH may come up with some new concepts.
Structural relationship between San Antonio (SE), La Verde (center) and Dos Amigos may be important. Active mining at San Antonio so HCH haven't seen much (that they are talking about anyway.) As HCH is a 'predator' for more land the local owners are probably cagey and quite aware of what is going on. 6 years to get La Verde shows the persistence and negotiating skills of HCH.
Exploration is ongoing with a geochem and mag data base being built up along side geological models for the district. Geochem can be done using PXRF pretty much where they like - don't need to have tenure apparently though observing courtesy might be worth the effort. Mentioned in yesterday's post that there are issues in dealing with soil geochem numbers for targeting in isolation. Santiago Z and Cortadera Norte were given as possible examples.
At Domeyko ground based mag was used to produce company maps. The area is flat enough to make this practical.
Didn't discuss Cortadera, Amsa, or Productora.
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Negotiations for land acquisition have been fine tuned. Relationships have been built up over the last decade or so and the company is apparently recognised as a reliable partner to do what they say they will do. CE and his local counterpart are commonly involved in ways that larger companies like Hudbay do not seem to be. La Verde probably gives an idea of the difference in approach.
These local relationships can be useful in providing information that can't be readily obtained elsewhere.
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CE would like to do some diamond drilling but will probably hold off till the PFS is out and hopefully different funding options are available. Very much aware that dilution is not a good route to go. Necessary at times though hopefully not with a good PFS and positive results for La Verde under the belt.
My paraphrasing of poorly recalled info.
CE is acutely aware of the SP performance over the last couple of years when there has been very limited drilling and no good results.
Very aware of some HC posts that are not positive, quite understandable at times. Par for the course these days with social media - not pleasant at times.
Lasonde curve invoked by him which hopefully is seeing a shift towards the next upper movement of the development phase combined with the La Verde discovery....
The buck does stop at someone's lap - or the board. CE wants to see the effort of the last 15 years come to fruition,....
I didn't plan to go into this much detail on HCH when attending the conference. Just happened and was good to chat with CE and Chris. The latter was leaving to work on the PFS shortly after I spoke with him.
Rather overwhelming conference with 150 stands full of goodies and information plus 3 days of constant presentations. Overloaded me after only 6 hours.
Good tucker as well.
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Seriously tempted to get back into HCH for what could be 3rd time lucky. Lost on the first pass, small profit on second when I was lucky to get out before the CR around $1.
Would have to sell some shares I quite like to buy into HCH - or win lotto.
GLTAH.
Last edited by salpetie: 19/02/25
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