RE:RE:Lion One Discovers Copper Porphyry Mineralization"So, is it correct to assume that this is a good thing….first copper THEN gold?"
No mention of silver, but copper and silver are normally associated in copper mining, along with traces of gold.
Anyway, 0.12 to 0.17% copper 400 to 600 ft down is not a money maker, or even worthwhile, but the news release is meant to inspire hope that there's more, and maybe even some gold. Even with open-pit mining 1.0% copper or copper-equvalent is considered to approach 'high grade', 20 lbs/ton. 0.12% is 2.4 lbs/ton and 0.17% is 3.4 lbs/ton.
Also when reading the surface and trench sampling numbers keep in mind that 1000 ppm is 1 gram/ton, so the gold sampling is 1/10th of a gram/ton up to 1 gram/ton with a weighted average guess of maybe 1/4 gram/ton. The copper is from 5 to 7 grams/ton or about 1/4 oz or so per ton.
Maybe something will develop from this many moons from now but at this point I just consider it a distraction. No gold pours from the last 2 months?