Seabridge has grades of only 1/2 gram per ton and they have a total of over 30-45 million ounces of gold.
Nobody can convince me that TPW has only 30,000,000 ounces. I simply don't believe it. TPW is being modelled on two small porphyries that totalled 30,000,000 oz. I had this discussion with CD earlier this year and he pretty much agreed with me but he could not come out and say that publicly because he had not yet proven up the model. Now he has proven up the model but rules likely prevent him from making such statements because we have not yet drilled enough for him to make such assessments. But here is why I think we have way more than 30,000,000 ounces of gold.
TPW has reveealed that 1975 meters along strike on a portion of the south side has continual gold mineralization along the porphyry wall. Only two of our holes in the 1975 meter strike reported less than 1 gram with many of them reporting 2,3,4,5,6,7,8,9 and even 15 and more grams per ton. One hole showed no mineralization. Only one hole showed no gold. We are still open along strike and at depth. Gold grades appear to be increasing at depth. The bottom (hinge point is estimated to be twice as far as we have drilled thusfar. We have only drilled one of those porphyrys.
Any major should see by now that it is not that far to tunnel from one porphyry to the next. In other words once a mining operation is well established it may be feasible to tunnel from the current find (the south wall) to the north wall of the next porphyry. Likewise it may feasible to tunnel from the north wall of the large porphyry to the south wall of the porphyry that sits at the top of the one that we are currently drilling. The cost of mining that way vs. putting in a second and third shaft would have to be weighed of course, but at least the drilling could be carried out from any existing mine on the south wall over to the north wall of the next porphyry. When another find is made, then tunnelling to it and hauling the ore up the original shaft may be cheaper than building another shaft for the time it takes to pull enough gold to pay for another shaft. All of these factors are bonuses to any major gold producer and should be taken into consideration and should be included in any sales pitch to investors.
We have not yet drilled the north side of the current porphyry. If one was to assume that gold mineralization exists on both sides of each porphyry wall then TPW would have up to 20 Kilometers of strike at twice the depth that we have so far drilled. Simply put, TPW is an enourmous area with enormous potential and any gold producer that fails to participate in this property is going to give up a huge opportunity to increase their reserves in a meaningful way.
Frankly, we will never know how much gold all these porphyries contain because this mine will have a very long life that will likely outlive many of us. Hence trading a the current penny stock levels is just ludicrous regardless of what the first NI43-101 shows.
In closing, I would recommend that any JV that we do sign must included a clause that allows us to drill some holes wherever we/CD wants so as to increase our chances of finding gold alongside all the walls of all the porphyries. Let the miners then decide where they want to mine.
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