Evidence vs Existence So I have reviewed the Taranis press release from Jan 6th. I have a couple of thoughts:
Porphyry "Evidence"
Taranis has outlined a detailed 10 point "evidence" for a porphory deposit beneath their existing epithermal deposit (driling to date). This woudl be very exciting.
For those that dont understand: Epithernals are high grade, narrow deposits formed by thousands of years of steam flowing to surface and droping metal into cracks in the rock. You mine it by following the viens and dykes. This results in expensive mining done by skilled profesionals. Porphyry deposits low grade large deposits formed by a cooled magma champer. You mine it by taking the entire thing - literally cubic kilometers of ore. Cheap, bulk mining by automated equipment to the extent possible. Makes for a very large mine, They usually form in groups (my opinion).
So, if we have a mineralized porphry we could be sitting on a very, very profitable piece of mountain. My issue is that we have "evidence" by not alot of proof of existance. If I understand this correctly, they have still not produced drill results into mineralized porphory. Hole Thor-74 drilled into hundreds of meters of quartz-sericiye-pyrite, NOT the actual evidenced porphory....rather evidence of evidence of a porphyry at Thor.
I believe that we are stil waiting on some drill results from the summer that were delayed; and I believe that these results are the intrusive targets thta I have been anticipating. It is curious to me that we woudl have this presentation before the intrusive drill results; maybe they are building up to sometihng. It is also possible that I am confused on the drill results I am waiting for from this project.
The thesis of a linked epithermal and porphyry deposit that taranis presents is entirely plausible in my opinion. What they cite as evidence is evidence of a porphyry at Thor in my opinion. I am invested here for a reason. However, the phorphry might not be mineralized to the extent required for mining AND it may not even exist. We arent quite there yet. If we get to a mineralized porphyry we shoudl do well investment wise.