RE: RE: RE: Confused by the price action
I know the market will really jump in if they can find a porphyry. The really large mines and I think this includes the origional Bor mine are almost all Porphyry deposits (see below). Reservoir is drilling 2 really deep holes trying to find one.
Approximately 50-60 percent of the world’s copper, and 95 percent of molybdenum comes from porphyry deposits. In the past, porphyry deposits were often overlooked with conventional drilling and assaying exploration methods due to their low grade. The discovery of many large porphyry deposits has prompted exploration companies to look more critically at their drilling and assaying results. Junior miners report their drilling results showing that drill cores “started and ended in mineralization” and that drill cores provided an “extension of mineralization.” These are important facts to consider when trying to determine the overall extent of mineralization in an area.
Although the grade may be low, porphyry copper deposits typically contain hundreds of millions of tonnes of ore. Grades for the different metals vary considerably, but generally average less than 1%. In porphyry Cu deposits, for example, copper grades range from 0.2% to more than 1% copper. The metal content of porphyry deposits is diverse. For deposits with sub-economic grades and tonnages, subtypes are based on probable co-product and by-product metals, assuming that the deposits were economic. In porphyry deposits, ore minerals are dominantly structurally controlled, which means that the bulk of mineralization in these deposits is hosted in stockworks, veins, vein sets, fractures and breccias.