RE:RE:Marimaca Technical ReportWoodman601 wrote: Briefly read report, nothing really new. Kind of strange they would release it friday afternoon
Last Friday's NI 43-101 Report gave much more details for metals mining analysts. It goes to my assertion that COP would be putting more meat on the bones including possibly news about the closing of the $6.2 million purchase of the Ivan mine next week heading into the PDAC convention. My quick-and-dirty review meaning hasty analysis and not "your wife wants it quick and you want in dirty" is bullish. The above report gave us the following key facts: NCL, the independent qualified consultant, carried out a Resource Estimation of the Marimaca Project, resulting in the estimation of Measured, Indicated and Inferred Resources are 21.5 Mt @ 0.68 CuT of Measured + Indicated and 18.8 Mt @ 0.53% CuT Inferred resources (Note: average grade of copper ores in the 21st century is below 0.60) . Based on the 2016 Mineral Resources estimation, the project is expected to continue under exploration during 2017. Since 2016, aggressive exploration in Marimaca has defined oxides mineralization zones amenable to open pit mining and presents very good opportunities to expand the Mineral Resources and extend the life of the project. In this context, NCL recommends to continue the implementation of the exploration program proposed for 2017 (US$2 million)...The recently completed PP in Dec. 2016 - bought principally by Greenstone - raised $5.2 million including $2 million budgeted for Miramaca drilling and exploration on the Ivan claims...COP does not need to go back to the well for more money anytime soon as the Company has already set aside $6 million for the Rayrock/Ivan deal completion.. Expect the stock to rock and roll to new 52-week high after next week with the PR machine in full-on mode.