Post by
drunk@noon on Mar 17, 2024 10:12am
I haven't been impressed with the drilling results from
the rest of their property to enhance what they have in the bank for Media luna. The reuslts would be imprssive if it was near surface, but it seems it will have to be accessed underground, as most of the drill resuts are hundreds of meters in depth. i.e 5 meters width at 4% is fine if it's part of an open pit, but when it's 500 meters underground, it's a different story. They have benn yapping about the fact only 1/3 of their landbased has been explored for years and now we've had a couple of years of more agressive drilling, and while they have had some half decent resutls, their has been nothing impressive and this is important as media luna current reserves don't support 20 year s of 300,000 plus gold equivalent production. Hopefullly the deep can contribute 80-100,000 for 10 years of so, as media luna is alot heavier on the copper side, which has to move to the 4.5 dollar range to hold the same equivalent ratio they have been isising in their gold equivalent calcs. 1700 gold and 3.5 copper. Now gold is at 2150 and until a week or two ago copper was 3.80.... the move to 4.10 helps, but we need 4.50 lb for the ratio to remain consistent