RE:Similarities with the Fort Knox Gold Depositmegacopper wrote: The recent gold discovery by SGD is geologically similar to Victoria's Eagle gold deposit and Newmont's Coffee gold deposit both of which are in the Yukon. However, I think Snowline's discovery could end up being bigger and richer than that of the Fort Knox gold deposit (see below for details) in Alaska currently operated by Kinross. To put things in perspective that means a gold deposit greater than 10 million ounces and that is just on SGD's Valley target. The Gracie target could be equally as good and there are other targets as well. This is a monster gold discovery.
So early indications are that SGD's gold discovery could be larger and richer (higher grade) than anything else in Alaska or the Yukon. A little early to be talking about average grade with SGD's deposit but the first few holes all averaged over 1 g/t and the recent holes look better visually by the geologists logging the core. These type of gold deposits usually have fairly consistent grades over 100's of meters. This one is a slam dunk in my opinion. Yes I agree with you Austin. Buy as much as you can while the stock is still cheap because I suspect it will be going a whole lot higher in a few weeks once the assays start coming back on the recent holes.
The Fort Knox gold is hosted by a late-Cretaceous granite pluton that intruded into the surrounding Fairbanks Schist.[6] The pluton is described as "a light gray, fine grained granodiorite, medium grained biotite granite, and coarse grained, biotite granite porphyry, which form blocky bedrock exposures".[6]Gold, bismuth and tellurium minerals occur in pegmatite and quartz veins and fractures within the pluton.[6] The sulfide content is very low (<0.1%).[6]
The Fort Knox gold deposit had pre-production Proven and Probable Reserves in 1996 of 158.3 million tonnes @ 0.83 g/t gold with a 0.39 g/t gold cut-off for 4.2 million ounces.[7] After the production of over 7.5 million ounces, at 31 December 2019 Proven and Probable Reserves were 255.8 million tonnes @ 0.3 g/t gold for 2.80 million ounces.[8]
I need to correct myself because I was unaware of the Donlin gold deposit in Western Alaska which is one of the largest undeveloped gold deposits in the world. But hey Snowline isn't finished drilling by a long shot so perhaps they have a chance at topping 34 million ounces eventually. You know SGD are onto a big one when we are already comparing it to some of the largest gold deposits on the planet. Enjoy the ride
Located in Western Alaska, Donlin Gold is one of the largest known undeveloped gold deposits in the world, with probable reserves estimated at 33.8 million ounces of gold. Based on exploration results, the Donlin Gold project will be an environmentally sound, open-pit gold mine.