Some ThoughtsThere is a good area map of the known area deposits on Benton Resources website (V.BTC). Benton recently started drilling (I believe about 10 days ago) about 2 km from our newly discovered Iris Lake zone. Will certainly be interesting to see what they come up with. Here is the link for the Benton Resources link that shows the area plays:
https://www.bentonresources.ca/upload/documents/shebandowan-promo-map.pdf
Notice that there are some 7 deposits in the area.
I had the opportunity to speak with the people at Moss Lake who are somewhat more advanced than we are at the moment. They are currently starting a feasibility study to put their 1.5MM AU Oz deposit into production. Their plans are for a 15,000 tpd mill at a capex of something in the $275-375 million dollars. Operating costs would be approximately $20 per ton. This could be running in approximately 3.5 years.
What's interesting, is that the mill would be used by the area miners because of the proximity. Now it might make sense for FDN in time to build a mill, but the option of using custom milling as is done in other regions of the country makes some good sense.
In terms of FDN valuation, I think many people are missing the point that this is an area play as displayed in the benton resources map. I think that many don't believe that this can be a mineable deposit and that might be a correct assessement if this were on an isolated mountain top in South America, but it's not. The Coldstream deposit is located very close to infratructure, skilled labour force, road to the property, power to the property and has had a past producing mine on the property. Back in the 1930's, this was a mining district and I believe it will be resurrected, but much larger this time with modern equipment, camps etc. If I look at the area play, gotta believe that there is propably 5-10mm Ounces of AU in the area.
I like my chances on this area hosting a number of mines in the next few years better than many others in the world.