AWM pays all exploration costs, in 2023 they have recently raised 2.6 million for said exploration costs and other activities, BAY currently holds 100% of their 300,000 + hectares on the island, the $2.6 mill will not cover the “buy in” of $10 mill... 2024 DSO slated. Path to permitting for DSO etc is in process.
The amount of easily scoop-able copper gravel assessed by a knowledgeable poster is up to 600,000 tons, a couple of the nice rocks in the sea of green were assessed at 62% and 32%, these were not in the same zones and suggests more to be found not to mention that There are literally tons of those though smaller sitting on ground level in the many pictures...how many more are in those thar’ hills..?
Seems to me that with 600,000 tons of copper gravel if you apply a copper grade of 3% to that you end up with a total tonnage of 19,800 tons of copper..or ‘bout $180 million minus a few sorters, trucks and shovels..mind you if it is as AWM assumed a representative sample was 4% not 3, then we are looking at 26,400 tons of copper = $240 million, again minus the toys etc... all for a shovel, dump, sort, bag/ ship operation from a small area...then we have the rest of the deposits, including Seal at approx $340 million, and the 40ha estimated at an average of 2.15% CU at an average thickness of 24 m Contained within a 15 km2 area that only encompasses the 2200, 2750, 3500 and 4100 zones, indicated in map below.this does not include the plates and extensions, then we have Pressure point, Tornado, Blizzard as well as the Tempest and the rest of the 120 km strike length...based on what is known just in the 2200 through the 4100 zones is billions.. do the math..I have... and unlike some bashing “shareholders” I see a lot more too... the largest plate is 1800 m by 1000 m.... thickness unknown as is it’s % of minerals.. even at 1m thick (average so far is 24m don’t forget) at 2% it would be approx 90,000 tons of copper? .. and 6 other smaller plates.....
In most cases copper ores contain between 0.6 and 1 per cent of copper. Consequently one tonne of ore generates a maximum 6 to 10 kilograms of copper. We have at 2.15% just under 50 lb per ton over a 40ha area... again just over the Known semi defined area..other areas are as high as 4.18% or over 90 lb per ton over impressive meters..quite the range and we are only getting started..
Case Study - Sandfire Resources Ltd (ASX:SFR)
News Release June 3, 2011
Sandfire delivers Degrussa Feasibility Study.
News Release May 22, 2012
Sandfire completes first shipping of DSO chalcocite.
Chalcocite DSO at Sandfire’s Degrussa provided an early cash flow opportunity
Sandfire’s Degrussa DSO product 6600 tons @ 30% Cu DSO value $13 million.
1 Containerized shipment of Degrussa DSO – high value product ships to global market
STEINERT KSS | XT CLI
It is a combination full size unit, capable of handling a throughput of between 5 t/h and 100 t/h with a 1 m working width.
AWM has demonstrated a 53.9% concentrate from 4% ore as per AWM representative sample and is capable of refining up to 240,000 tons over 100 days with the 1 test sorter, Additional sorters will expand that capability and produce impressive numbers.. once the surface copper gravel has been refined we will see where AWM wants to proceed with.. again Tornado and blizzard and tempest are on the list for near term exploration and will only add to the copper,Zinc and Silver Numbers..
Link to recent update on projects.
Lots of trucks out there used and new from $50,000 for a good used 50 ton to $200,000 for a good used 100 ton or you could spend $5 mill on a brand new 400 ton... just need to look them up..
GLTA That Deserve It.