RE:RE:RE:What's the Timing on Barksdale's Agenda?No problem, Scorpio2.
There are, however, a couple outside factors that could get things moving share price wise and the area in general. One possible in the short term and one in the potential medium or long term.
Short Term - September Quarter 2020 - With a PFS to further de-risk Taylor, could lend more credit to the source (Sunnyside) of the Taylor Deposit and catch the eye of a major since South 32 is stalling to do anything and pay more by waiting it out like they did with Arizona Mining for Taylor/Hermosa. Arizona Mining was prepared to release a Feasibility Study in Q3/4 2018 with production set for late 2020 had they not been taken out by South 32 in June-Sept 2018. Why would South 32 sit on this for 2 years?
South32 is pleased to report for the first time a Mineral Resource estimate for the Clark Deposit which forms part of its 100% owned Hermosa project located in Arizona, USA (Appendix 1 – Figure 1). The Clark Mineral Resource estimate (Table A) is reported in accordance with the JORC Code (2012)1 at 55 million tonnes, averaging 2.31% zinc (Zn), 9.08% manganese (Mn) and 78g/t silver (Ag).
The Clark Deposit is interpreted as the upper oxidised, manganese-rich portion of the mineralised system that contains the previously reported Taylor Mineral Resource estimate. A scoping study to advance our understanding of the processing and end-market opportunities for the Clark Deposit is underway, while a pre-feasibility study for the separate development of the Taylor Deposit is due for completion in the September quarter 2020.
South32 Chief Executive Officer, Graham Kerr said “The declaration of a Mineral Resource estimate for the Clark Deposit marks another important milestone for the Hermosa project, following our initial Mineral Resource estimate for the Taylor Deposit in June 2019.
“When completed, the Taylor Deposit pre-feasibility study is expected to further de-risk our investment by demonstrating its ability to deliver strong shareholder returns over many decades. The Clark Deposit provides an additional option to realise longer term value from within the broader land package.
“With ongoing exploration programs testing possible extensions to the Taylor Deposit and newly identified prospects in the regional land package, we expect this work to reaffirm our view that Hermosa is one of the most exciting base metals projects in the industry.”
The Hermosa project is a polymetallic development option located in Santa Cruz county, Arizona and is 100% owned by South32. It comprises the zinc-lead-silver Taylor Deposit, the zinc-manganese-silver Clark Deposit and an extensive, highly prospective land package with potential for discovery of zinc and copper mineralisation.