Lumina Copper Corp LCPRF

More drilling

[eebler]

Just keeps getting bigger, both in depth and in terms of extensions. The addition of a separate gold resource on the oxide cap could be a big boost to project economics if it extends across most of the cap. That would definitely reduce stripping costs if they have viable gold to extract from the pre-strip material

https://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn%5Fnewsreleases%2Easp%3Fsymbol%3DV%2ELCC%26newsid%3D8300490

[elmothefearless]

Yes, great point eebler..To calculate the NPV of the Taca Taca project, they will include the cost of clearing away all the dirt to get to the "good stuff" 150 - 200 meters below the surface.  As eebler has pointed out, if the dirt has gold in it (especially oxide gold, which is easier to recover), all of that dirt that would otherwise represent purely a cash outflow will actually

[krogh]

The deposit could even be much deeper, more than one km. The horizontal extension cold be also be a factor of 2-3 at least. That means that Taca Taca might contain 50 billion pounds of CuEq, and hence become one of the largest copper mines ever.Such a deposit should be worth a couple of billion dollars at least in a sale.2012 shall be interesting for us, I hope. The team exploring here is

[eebler]

Some really back-of-the-napkin calculations:- 1 cubic yard of dirt weighs at least 2,000 lbs = 1 ton- possible dimensions of cap = 1km x 1km (length is actually closer to 3kms)- depth of viable gold-containing material = 75m (half of approx depth to get to the "good stuff")So, weight of cap = 1000m x 1000m x 75m = 75,000,000 tonnesAt .3 g/t that is 75m x 0.3 = 22,500,000 g = approx 850k

[elmothefearless]

Looks good, but I have a couple questions:.- I was told a meter cubed is approx 2 to 3 tonnes, I usually use 2.5 tonnes / m3, so I would go: 1,000 x 1,000 x 75 x 2.5 = 188 million tonnes of material.- There is 31.5 g / troy oz, so 188 tonnes x .3 g /t = 56,000,000 grams / 31.5 = 1.8 million oz's gold.- Good conservative assumption of $700 margin, however since we have to move this rock anyway,

[elmothefearless]

The margin would be higher I mean, as eebler has already pointed out.

[krogh]

As elmo said you forgot to multiply by 2.5 or 3This line So, weight of cap = 1000m x 1000m x 75m = 75,000,000 tonnesshould have beenSo, volume of cap = 1000m x 1000m x 75m = 75,000,000 m^3Then the weight is 75,000,000 m^3 * 2.5 tonnes/m^3 = 187 million tonnes.The gold content is then approximately 0.3 g/t * 187 million tonnes * 0.035 ounce /g = 2 million

[eebler]

I used the weight of "dirt" as opposed to rock because it gave another ultra-conservative aspect to the estimate.  When I did the search on dirt it came out at 2000-2500 lbs.  I was going from memory on g/oz and used 26 g/t.  Google results say it is 28.35 but your number helps make it more conservative whereas mine inflated it.  In reality, it is all

[eebler]

Ha!  What am I saying?!  I forgot for a while what these guys intend.  I was thinking they wanted to take this to production when I know full well that their intent is to sell it in 2012 (as per corporate presentation).  So, let's hope they prove up a very viable and robust gold-infused oxide cap as it will enhance the selling price significantly. 

[elmothefearless]

If I recall correctly, are recoveries better with oxide?  The sulphide recovery for gold is about 50%, but should we see something higher with the oxide material.

[eebler]

Oxide tends to be much easier.And as for g's per ounce, you are very correct for "troy" ounce conversions as being 31.1 g's per oz.  My mistake on the math.  eebler