RE:$RNX: John Kaiser interview about Beta Hunt MinePierre,
Excellent transcript. One typo in the passage below, at about 22:00...it's "anticline", the peak portion of the fold, as opposed to "syncline" for the valley portion of the fold
"....These deposits are going to be like having a pencil geometry tracking along the axis of the anti-climb of the fold...."
This was illustrated by the diagram (shown in the video) that has the broken (yellow) pyritic sediment layer, the catalyst that was causing the puking up of the Au when it came up along with the Quartz in the thermo-fluid oozing up from below.
According to the theory, the axis of the anticline run along (the strike) for about 5km for each of of the 4 shear zones they have identified so far.
Their geos believe that Au is coming up from below, which is common sense (i.e. not coming from the meteorites). However, there is something about the pyritic sediment layer that seems to have the catalyst (Iron sulphite) that cause the precipitation/puking of Au. It's also interesting to note that a meterite strike would cause
- shock waves, shears, faults, broken rocks;
- extreme pressure that would melt rock, casing lava to flow up;
- meteorite also contain quite a bit of iron sulphite, Ni, Cu, etc...
Next question for speculation was why most/some? Ni open-pit mines are located on top of the shears? Where did the Ni from the pits come from, the magma or from the meteorites? (Note: the Sudbury basin was formed by a meteorite/comet strike and most of the mines are located around the rim...Kelvin Small lives in Sudbury, he should know this story quite well). Just some side speculation for a full picture of the geology of the area around Beta Hunt. But, we really don't care about Ni for now, just show us some more huge Au nuggets.
Cheers,
GH11
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pierreG01599501 wrote: I transcribed an excerpt of the excellent John Kaiser interview at Metals Investor Forum in September 2018.
The following concerns RNX and Beta Hunt Mine (around 19:25):
«When you don’t have metal price drivers to really get excited about except in isolated pockets like vanadium and cobalt and you still want the interest in resource Juniors, you have to look at discovery plays. Now the days of the area plays seem to be gone. We are just not seeing them the way we did in the 80’s and 90’s. It is more individual companies go nuts like we saw NOVO go nuts last year and as we are now seeing Royal Nickel go nuts as a result of these golden boulders that they have recovered at the Beta Hunt Mine also in Australia, also in Western Australia
except at the southern end of the continent from the Pilbara. So, this is now the hot story and just to give people who have not heard about it. This thing was trading below a dime, had its 400 million shares out, was loaded up with debt, 38 million $ related to this mine they bought in order to mine the nickel that was left behind and some of the gold that was beneath where the nickel deposits are located. They were trying to sell this all year to
some sucker, just get rid of it and get rid of that 38 million $ in debt so they can focus on there Dumont nickel project.
In September last year the geologist came across coarse gold deeper down in the mine which was below where coarse gold has traditionally been found. In the Kambalda camp, which is right at the interface between the komatiite lavas and the older Lunnon Basalts where these Kambalda type rich nickel deposits existed. There seems to be something where these shears came up. You would periodically find these fantastic things. Whatever was found deeper was nothing like that. They found something interesting. They developed this model that this sedimentary horizon in which these very golden boulders were being found was actually serving as a special chemical sponge that caused the gold to flow, drop out of the fluids that were coming up the shears and dropping themselves out everywhere else. They have been working to develop this model, racing against the people upstairs who are being pressured to sell the asset and pay back the creditors, when on Fathers Day in Australia they came across these boulders and got what at least for now looks like validation for the model. Now this is a fascinating story because the way it sort of works, is they have a system like a fold and within this fold there is like a thin horizon that is this pyritic shale horizon. Most of the extensive drilling is only 100 metres deep but there’s these four shears that come through here. There model now is where the shear intersects this pyritic shale horizon, it’s not very thick, you get incredible enrichment. The new model is, how much of this is there? They say well we’ve got these four structures, roughly two kilometres long, so 5 to 10 kilometres of structure. These deposits are going to be like having a pencil geometry tracking along the axis of the anti-climb of the fold. So now the model is going there and drill and vector in on this and look at the alteration patterns and come up with a way. Where did these super 10,000 to 20,000 ounce per ton enriched pockets exist?
That is what took the stock up to $1.18 the other day. It is now the heaviest trader and it is much better that the NOVO play because with NOVO, until you have a method to measure, it was all just this big fantasy. This is hydrothermally in place in-situ mineralisation with geological controls that you can figure out with old fashion core drilling, a lot of structural geology, a lot of alteration studies and vectoring and so on. So when they get going on this, we have a year before we know whether this was just some little local freak phenomenon or that it is something
substantial that there may be a couple million ounces, maybe more, that with a lot of drilling you’ll be able to home in on, because it is already a mine. It is not like you have to wait 6 years just to permit it or anything like that ».
As of 24:09 John Kaiser comments the sharecollective.co Beta Hunt Mine tonnage and grade scenarios. It is worth a look. https://www.youtube.com/watch?v=fhZ89ySerp0+