RD759 . what is your take on how the news is being promoted on the mining play website?
here is what Mike Gold wrote (keep in mind he is a very close friend of management)
Good Morning!
So-it appears that after about 16 years of looking..Medinah has finally discovered the elusive copper/gold porphyry style deposit associated with the Gordon Breccia!
Back around 1999, Gordon House felt that the LDM was simply an extensive of the suspected porphyry associated with the Gordon breccia pipe. Nobody really doubted that it was there but it was assumed that it was likely deeply buried under a lot of overburden and the LDM was associated with a different intrusive source.
It now appears that the LDM has 2 separate heat engines..one located in the Southern part of the LDM claim(recall previous discovery of LDM breccia and ACA Howe mapping of a granodiorite intrusive dike..the other likely associated with Gordon system.(i.e the copper adit) The rocks malachite, chalcocite, bornite and chalcopyrite are very consistent with a copper(gold) porphyry deposit. (Note: A skarn is a much smaller scale sedimentary rock that has been mineralized.)
I have attempted to draw on a map my interpretation of what Medinah is trying to tell us. (Apologize that the map is so busy.) If you look carefully-you will see that I noted the location of the Gordon pipe on the plateau in relation to the LDM. I have drawn a circle around it that just touches into the LDM. The mineralized body covers most of the area of circle. There is a small circle at the South end of the LDM that represents a gold porphyry system..the same system that the LDM gold mine shaft seems to have located. (Note: Almost the entire mineralized structure is very likely within Medinah/LDM Chile/Nunco claim boundaries.)
The big take away from all of this is that Nuoco may have discovered a near surface high grade section of a massive copper porphyry deposit worth billions of dollars. After reading posts from last evening-it is clear that this news when right over the heads of most shareholders but happily-the major miners will take note of this latest discovery."
and from doctor decosta "Hi Whatever,
I think the exciting thing about yesterday's update in regards to the grades cited is CORROBORATION. In LDM 99-02 we didn't hit much at either the 66 or 67 meter depth level. Now all of a sudden we have about 7 and 10 grams per tonne there.
In the earlier drilling we hit 62 gpt gold at the 68 to 69 meter level. Then we hit 122 gpt from 69 to 70 meters. Keep in mind from the Singer report that the average gold concentration in a copper-gold porphyry system is a measly 0.38 gpt. ACA Howe then did a "quarter core repeat check sample" (to keep Medinah honest) and they got 455 gpt gold at these levels. It's rather refreshing when the results of the more "independent" guys blow away the results of the junior explorer. In my mind the "drumroll" is now starting in regards to what we find at the 69 to perhaps 75 meter levels where they found "readily visible gold" in the midst of evidence of an underlying porphyritic intrusive.
From a statistical certainty point of view the sample size in a 2.2 inch drill core is miniscule so you need to be careful in making extrapolations especially while keeping in mind the "nugget effect". When you sink a winze/shaft you're taking a 3 to 4 meter wide "channel sample" across certain depth levels. This is much more reliable. In the drill cores for LDM 99-02 there was ZERO "visible gold". Now all of a sudden when you enhance the sample size from 2.2 inches laterally to about 150 inches wide you get a much more statistically accurate sampling. That's why I relate this to CORROBORATION. Since the more accurate view of the 66 and 67 meter levels had much better results than the core and since we've gone from no visible gold to "readily visible gold" near the 70 meter mark and since the core results got much better with depth at these levels then hopes remain high for the next round of assays.
Medinah making the move to initiate their own "Professional Geological Assessment" on more of a macro view because of these results at the LA 1 and those they're getting at the Nuoco properties is interesting. I'm assuming it will focus on the open pitability of these areas. From here on out, Medinah is what is called "in play". Tons of information will be flowing in due to all of these development efforts and the geo-modeling will become clearer and clearer to interested parties although it is still very complex. Every once in a while we still need put on the telephoto lens and zoom out in order to take in the macro view. We're still only talking about the second or perhaps third of the "about a dozen" intrusives identified by the hyper-spectral satellite imaging study. The copper findings at the adit and the Mambo as well as at the Gordon Pipe seem to be related to the same underlying intrusive.
These new gold findings are a bit of a head scratcher but they may be explained as part of a "dike swarm" at the terminus of an underlying porphyry intrusive. This may have served as a "feeder" system for the overlying shear zone and skarns at the LDM. Recall that at the Old LDM Mine the tailings piles and dumps are still weighing in at 5.3 gpt gold even after processing. After about a dozen years of expanding the base of this overall project it appears it's time to fill in the blanks of this 60 square mile property complex.
With all of this low hanging fruit at the LDM, it might be wise to just keep our nose to the grindstone there in the underground efforts until an open pit plan is approved. In the meanwhile the overall "value" of this area could grow parabolically. You have to assume , however, that a tap on the shoulder is coming sooner than later by an interested party with an offer that the majority of shareholders will vote to accept. More than likely the ADL partners will have a right to match it.
