RE:Interesting things going on in the Greenstone Belt - TombillInteresting. Thanks for posting that. Will take a closer look.
ndiamond wrote:
Wow - massive news over the past few days - Orion coming, revised feasibility study and now Equinox takeover of PG. What could be of interest is a new junior (started trading only 2 days ago) that has a property directly within the Greenstone Hardrock mine project. Tombill Mines (TSX.V : TBLL). Here is a quick intro - Tombill's property is completely surrounded by PG/Equinox and Orion's project - and you can see how this could potentially be a massive win for shareholders of Tombill (TBLL)... Personnel:
CEO – Adam Horne (Caledon Partners, London based Hedge Fund)
Technical Advisor & Director – Ian Stalker (K92 Mining TSX : KNT)
Investment Highlights:
- Tombill holds claims are surrounded by Premier Gold (TSX: PG) / Centerra Gold's (TSX : CG) Hardrock Project
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- Hardrock is multi-million ounce deposit (6.4Moz Au in M&I, 2.5Moz Au inferred)
- Over $185M is committed to the project by Centerra
- Tombill aims to delineate on its property the deeper F-Zone type mineralization that is intersected at Premier Gold’s Hardrock Project (see figure 1 and 2).
- The geological setting, mineralization and geometry of gold mineralization at the contiguous Hardrock Project shows that all the F-Zone, SP-Zone and K-Zones, that host the multi million ounce deposit are open down plunge. They are drill hole intercepted adjacent Tombill’s east boundary (see figure 2)
- Premier defined a broad high-grade mineralization within 100 m from Tombill’s property with drill hole MM170, intersecting 18.49g/t gold over 20.5m.
- DH MM170 is a step-out from MM157 that intersected similar width of mineralization: 4.36 g/t gold over 17.8m. Both drill holes are in turn 500m step-out from MM179C that intersected 7.92 g/t gold over 114.5m, including 23.56 g/t gold over 31.0m.
- Figure 1 illustrates the geologic continuity of F-Zone type mineralization into Tobmill’s property.
- Moreover the Bankfield-Tombill Fault, which is associated with past-producing mines in the area, crosses the entirety of the Tombill property.
In Summary: The Tombill property is highly prospective not only as a result of the consistency and continuity of gold mineralization that trends into the property from the Hardrock project, but also from the presence of mineralization associated with the Bankfield-Tombill Fault that crosses the entirety of the property from south east to northwest. Most of the mineralization in the area and many of the past-producers appear to occur in its vicinity or are associated with the fault.
Figure 1: Longitudinal Section of recent F-Zone drill-hole pierce points
Figure 2: Longitudinal of the Hardrock Deposit
- Tombill plans to verify the continuity of F-Zone’s mineralization onto their property through a 15 hole drill campaign beginning immediately following this financing
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- First results expected in Q1 2021
- Prime mining district with optimal infrastructure
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- Trans-Canada highway splits Tombill’s property. Local town and infrastructure all very supportive of mining operations
- Experienced and incentivized management team
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- Management/board has over 90 years of experience in the mining industry, and over 50 years in the Geraldton Beardmore area
- Management and board ownership post financing will be 41%
- $6,500,000 raise in connection with RTO
- $0.15 per unit. Some FT at $0.165 per unit.
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- Each unit consists of 1 common share and ½ warrant (exercisable at $0.23 for 2 years)
- Post Money Market Cap: $22.0M
- Tombill has no debt