Top 10 Reasons to have TRO in Portfolio: #7
#7: MRE VALUE! In 2013, Roscoe Postle Associates Inc. completed the first-ever Resource Estimate on the Thor deposit. You can click on the link below to download that report. See the 187 page report. The extensive report has some very interesting history over the century+ and descriptions of vast amounts of geo work by both Cdn & USA mining companies - showing the interest in the high-grade district. It shows you how smart these miners & explorers were - without technology or real equipment. I've seen some of the track rails and small, rusty tools used and I'm in awe at their drive. See VG on page 7-16.
In 2013, Taranis has drilled 152 drill holes and completed 35 trenches which are located on the east side of the Thor Antiform.
TABLE 14-12 THOR MINERAL RESOURCE ESTIMATE AT APRIL 25, 2013 Taranis Resources Inc. - Thor Project (Page 14-21):
Tonnes Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%)
Total Potential OP + UG Indicated 640,000 0.88 187 0.14 2.51 3.51
Total Potential OP + UG Inferred 424,000 0.98 176 0.14 2.26 3.20
Notes:
1. CIM definitions were followed for Mineral Resources classification.
2. Mineral Resources are estimated at an NSR cut-off value of US$50/t for potential open pit and US$100/t for potential underground.
3. A preliminary Whittle pit was applied to constrain the potential open pit resource.
4. Mineral Resources are estimated using an average long-term gold price of US$1,650 per ounce, a silver price of US$27 per ounce, a copper price of US$3.50 per pound, a lead price of US$1.15 per pound, a zinc price of US$1.25 per pound, and a US$/C$ exchange rate of 1:1.
5. Minimum mining width of 1.5 m was used.
6. Totals may not represent the sum of the parts due to rounding
[my note: Critical elements were not included for this report]
My Calculations:
Using https://vanadiumprice.com/ "What is Rock Worth?" chart at 2013 prices, as per Note #4, I get:
Ind: $380.18/t x 640,000t = $243,315,200 + Inf: $361.01/t x 424,000t = $143,596,080 = = TOTAL: US$396,400,400
US$396,400,400 converted to Ag $27/oz = 14.68 MozEq Ag or Au $1650/oz = 240,243 ozEq Au
IF the new NI 43-101 comes out at 2X, 3X, 5X, or whatever, then we can multiply the above. I don't know the Internal In-House calculations.
As the 2013 NI 43-101 was based on 152 holes, etc, & there has been >250 holes and growing to date, I expect the new calculations to be 3X the old ones, so potentially 44 Moz Ag Eq or 720,729 oz Au Eq!!! Taranis has only scratched the surface with shallow epithermal drilling & yet to drill the potential porphyry.
At current Ag prices of $22.60 = US$994M or $1,326 Cdn; or, Au prices of $1940 = US$1.4B or $1.8B Cdn
You can see TRO is very undervalued, and has HUGE upside IMO. See June 22/23 NR:
Taranis Engages P&E Mining Consultants Inc. to Update Thor Epithermal Mineral Resource Estimate Including Critical Minerals