OPEN THOUGHTS...I was hoping someone would've noticed the - lichen in last post - photo of Rover's outcrop.
If, copper can turn lichen green and blue... then, what's causing the lichen in that photo to turn
to - grey ?
ANOTHER SUBJECT -
If Aurora Geoscience detected copper in the geo chem soil analysis and if, former explorers found chalcopyrite copper on Cabin lake claims... then, what would the 10,000 meters of drill cores Rover acquired from Arrow resoueces ( cores from Aber resources ) reveal ?
What if there are cores outside the iron formation that were never characterized ?
Would a simple RFD mineral detector do the trick - scanning historical + newly drilled cores ?
Would a petrographic analysis help in ore characterization ?
What would 0.05 % grade of copper do to a gold resource ?
Add $437 per tonne mined.
$437
x 6 ore tonnes
$2,622 metal value
x 1.3 cdn conversion
= $3,409.00 cdn
5 grams of gold per tonne
x 6 ore tonnes
= 1 ounce of gold
= $1730
x 1.3 conversion
= $2,249
Essentially.... for every 6 tonnes of ore mined - one " pontetially could " gain well over another
1.5 x gold ounce metal value - supposing a copper credit had 0.05% grade.
Makes me wonder if.... Rover performed this on thier ores... MD&A stated they more than
doubled the grade value. Such a tatic of adding in secondary credits would do this very thing.
Time will soon tell.
But... i'm also
very interested in the ore bodies outside hte iron formations. Lots of photos were taken - question is... were any of these other ore zones chipped and
assayed ? All that's been spoken is... iron gold. Not the best format to elevate stock value.
Sulphides and Chlorides can convert metals to other formats - easily missed if one is only looking for - metal content in acore. This is where colorations give - clue. And of course, if past explorers were only looking for gold... most juniors seem ot follow in same footsteps, and continue to look for same metal - without factoring in other potential metals .
If Rover ever did reassay for other secondary mineral credits...
Such would only assist the NWT region in a race to - mine first.
It's not just other provinces to compete against...
We are now on a global scale platform whereas, competitoon is now globally, and if stakeholders are involved - competition is all the stiffer to win a forward contract.
Stengthening the district around Fortune Minerals would be a wise move - vs - not fully scoping the hisdtorical cores and newly drilledcores for other mineral content -
VANCOUVER, Aug. 13, 2018 Historically, the Cabin Lake project was incubated, and explored by Grenville Thomas through his legacy company, Aber Resources, in the late 1980's. Rover Metals acquired over 10,000 meters of historical exploration data from North Arrow Minerals (TSXV: NAR) in March of this year. The Cabin Lake property is located 110 kilometres northwest of Yellowknife and 38 kilometres north of Behchoko in the Tlicho Traditional Territory, central Northwest Territories. The property hosts high-grade gold in iron formation within Archean metasedimentary rocks. Historic work by Cominco Ltd., Freeport McMoRan Gold Company, and Aber Resources Ltd. centred on a steeply east-plunging package of folded sulphidized iron formation containing pyrite, pyrrhotite, chalcopyrite and arsenopyrite. https://www.newswire.ca/news-releases/rover-metals-corp-concludes-acquisition-of-the-cabin-lake-property-nt-canada-690722191.html Supposing we did have a good chunkof gold racked in ouces - and a potentiaol secondary credit or two. And suppose Fortune was interested. The issue here is, it would only tack on more costs for Fortune to acquire the gold andpotential other minerals... A cost factor, that onl adds al lthe more cost to their mine spark up.
Perhpas the best way ot perform such a deal.. ( hypothetical ) is to tag the mineral content with a
minimum roylaty value per ( ounce ) or ( eq ounce ) and float it with spot metals. But, making the minimum of say, $250/ounce for gold. Gold rises higher, the royalty fluctuates or corresponds with spot prices.
Forunes higher grade gold is deep.
Requires an underground mine.
Rover's is near surface.
Far easier to mine rovers and do a blend value with each.
This way... rover's receives attention from get go, if Fortune got the green light and roylaties kick in.
Rover profits.
Suppose Forune wanted ot purchase the gold ounces or Eq's.
It wouldn't profit shareholders that much based on Rovers outstanding shares.
I would think it would benifit rover all the more with the version of, royalty style - as mentioned above. Would reflect on Rover's ahare price all the more.
Just ideas...
Speculation.
Not investment advice.
Do your own DD.
I could be way out in left field.
Wild goose chase.
Or, there could be a measur eof merit with a few of my ideas.
So hard to say.... Such limited info.
i've tried to find historical data on Aber Resource - ore characterization.
Nada.
Yup... how dd Rover more than double thier grades in a few zones ?
Did they add in extra mineral credits ?
Or... just found more gold in same core tonnage ?
Cheers....