Jibby, they need to do around 150,000m of drilling to cover ground to100m across all tenaments.
Then more on deeper. There better off getting breadth covered and leaving deep alone.
Skywing could be a large 200m x 800m x 25m deep pit..
Thats perfect over getting gold 100m plus deeper.
Also it will be oxides. Nice n soft ore with no blast.
They got an area the size of koth to go over and based on targets, etc. Prob 10% through it.
Most targets are at infancy. Tyrannus, skywing, se of skywing, along wonambi. Maybe east of hydra
Eventually Tnrs ground will contain 1m to 2m ozs. 1m maybe mid next year, 2m 2023.
Perfect timing if red wants oxides.
At start up, red will be using oxides from one satellite deposit, another is to be used later in mine life.
But a few years in, pit wall cut back and lower production as not enough fill in oxides.
Anybody can see they will have a dip in production due to it.
Using Tnrs oxides would allow red to maintain output during wallcut back.
That is the point Tnrs ore will be wanted.
It will be very advantageous for red to blend Tnrs higher grade oxides with there own to increases quarterly head grades.
Jeez its only a few metres under overburden and 5km away. Capex to red would be 2 million.
If red can turn a dollar on Tnrs ore, they will.
If tnr was 100km away or ore was 100m down, different.
Presently red will not be interested, but once producing they will be as outlined above.
Also red does buy gold resources. I was in tmx when they sold a deposit to red for darlot feed.
I hold red5 as well as tnr.
Both long term holds because I believe tnr and red will be combined tenaments and the area as a hole will be 12m oz min.
Red is open towards tnr at koth, a large granite area is interesting, same as stirling well structure were focus has not been.
Granites at stirling well may be part of koth structure.
Mt stirling, skywing, hydra, tyrannus no, as not granite based.
Anyways 2021 has been the sniffing out indications, 2022 will be testing them.
Unfortunately you need to do recon, boring stuff, before you can go farther.
If tnr had not done this work, what would they have to drill next year?
AV getting AU and AS to 25m, bedrock depth over such a big area and Early RC is good.
What is important, is saprock. That is the layer under the wash layer (saprolites).
They will be targets for primary gold the other side of the saprock.
Very consistent as the bedrock is pretty level, no identified plunges thus far. That's what we want, esp if it plunges into a fault.
If true saprolitic, gold has shed up through bedrock via a fracture, or where ground elevation is higher with a primary or fracture.
Ie. If primary gold exits other side of hard bedrock, it needs a crack to get to the other side.
We know water event because saprock was once covered by water, it got crumbly, honeycombed, mottled because the water dried up leaving it exposed to the elements.
Back millions of years ago, we would have had winds many 100kms constantly to mottle the saprolitic rocks.
Also shows depending on aging, the planet did dry up.
No saprock at tnr would mean that area would have had water over that rock to prevent weathering.
Interesting it's not been noted at stirling well or to the west of viserion. Maybe means the water event is central between Ursus and viserion.
Really adds another dimension to Tnrs ground as pre saprolitic, secondary, the chase was on primary sulphides..
In Vic. Many larger deposits are secondary . They dredged. Eldorado, mita mita, langi logan a few. Nml is onto that one. I've found gold on the tenament, back 20 years ago, so no claim jumping. I liked the leed, but was to deep and big for one person to explore it.
Plus there is the Albury leed for the beechworth to bright shed. Diamond pipe somewhere there too.
TNR Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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