Post by
Wangotango67 on Dec 18, 2021 8:21am
REVIEWING - RLG - RED LAKE DISTRICT
Was just reviewing the district of Red Lake and realizing that money is flowing into the area, which is counter to that of what RLG is saying - still wainting for capital to flow in.
First thing that comes to mind ?
Pure Gold moving into Red Lake .
BTU seeing Barrick join in.
Evolution making it's grand entry
GBR experinecing a take out at a handsome price - $29 / sh
When added up...
Red Lake is seeing capital move in, and as so, perhaps - RLG - should backtrack and sift through their data to see if there's another angle in which to bolster their assests.
How you may ask ?
With in thier 43 101 ( 2016 ) edition, i did find a few interesting topics that should be placed under the scope for futher questioning - bullet form -
Page - 22 - surface showings of,
12.8% zinc
1.15 % copper
Page - 24 - have these attributes below ever been analyzed for copper content ?
bronzy pyrite
blueish quarts
Page - 26 - massive sphalerite
25 ft from shaft #1 has sphalerite showings from 10's of feet to 100's of feet.
What's Sphalerite ?
Zinc - historical reports peetaining to the mineral Sphalerite has found that copper can exist
with in a - Sphalerite.
Pagr 32 + 34 chalcopurite + sphalerite
Bth of these minerals are mentioned when it comes to - finding the best grades of gold.
Hard not to think of, could RLG idscounted itself by not factoring a potentiality of 2 other
mineral credits - copper + zinc ?
Page 34
10's of feet to 100's of feet - sphalerite - 35 feet away from shaft #1.
Page 36 - i find very interesting
An unknown grey mineral was discovered along side of the gold.
Now... gold can hide with in a telluride ( grey minerals ) only 3% of a telluride is needed in order to affect gold and result in the loss of it's gold coloration. Stop and think about that.
Aside of tellurides - there's also the aspect of - grey copper- copper can also manifest as a grey colored mineral.
Sum it up ?
Coulda junoor strive to hardsearching for gold while dismissing othert mineral credits that could augment the over all resource in an - EQ - VALUE ?
EXAMPLE ( hypothetical )
what would a 100m x100m x 100m x 2.9 ore weight
x 1% Zinc
= 29,000 tonnes
x 2200 lbs ( zinc sells per pound )
= 63,800,000 lbs
And this is why i think RLG
should sift their drill ogs and seek out this zinc ( sphalerite ) showing only 35 feet from shaft #1 -
Would be nice to see all the drill core pics - over the years.
It's a case of mystery cors - lol
Like - what if there were secondary credits with sufficient values down the geological column?
Which points to - could the Rowan mine ever entertain - open pit mining ?
RLG sems last on the list.
Has the gold in spades yet... where's the larger player interest ?
Should RLG fraction their two other claims away from Rowan and take that second look at potential secondary mineral credits ? Why do sa round robin on all 3 claims ?
Place al lfocus on the ROWAN - contimplate if the block modelling was accurate and factor in a potential open pit model = which might provre positive - if ores were delineated from levels 1 down to level 7 where an averaging of ores might produce a median grade that stil lattractive - and... perhaps zincandcopper vlaues that justify the void ores bringing them into play.
Some may think - zinc is not a strong mineral in the Red Lake area.
But if one probes the district they'd run smack into - South Bay mine just Norrth East of RLG
which was reknown for high grade zinc and copper.
In a 2018 video - RLG - gave themselves a 2021 timeline.
The mindset was... $200/ ounce.
Back in 2011 gold was in the $1550 / range.
Fastforward to 2021
RLG is now saying few more years...?
And... chirpping the tune - $150 / ounce.
Spot gold is firlting with - $1800 / ouncs - usd.
running significantly higher -than 2011 -
RLG- must move forward and rop the crutch of,
capital flow moving into red lake is needed.
it has moved in.... larger players are making the moves - it's just a question of,
what about RLG ?
My God, BTU had a better run than RLG, and ot think, RLG has the million plus ounces - lol
Evolution -
Evolution has prized itself by actually reducing thier cost to mine their gold at Red Lake Mines.
I couldn't resist - i scanned thier projected profits per ounce of gold.
Interesting it is... they've reduced the cost ot mine per ounce considerably from last operator.
Evolution has a 30% stake in RLG....
why are they suffering a small junoor to dril lout thier claims at such a suppressed valuation - RLG - is seeing next ot Nil value for their gold ounces in the ground. Could Evolution be inspired by other larger players NOW in the area - seeing those larger players move in ? Could it prompt Evolution to join along and dela with RGL ? Or is it too early, and Evolution has too muchon thier plate ? I wonder what Evolution is thinking seeing al lthe recent action taking place in Red Lake ? Woulkd 30% Evolution interest in RLG deter another ?
Or... is RLG fair open game ?
Counter thought ?
What if spot gold - took off - rises over $2,000 - ounce ?
Perhaps a revamp with an entriely NEW 43 101 is in order.
Sifting the core data to see if there's potentially 2 more mineral credits - copper + zinc.
one has ot consider - if the gold is near surface - under 500m and the sphalerite and bronzy pirite runs with the high grade gold - then - could RLG be dismissing the tohught of - open pit mining ?
One last thought....
I don't really know if the Rowan mine has lower grade gold ores inbetween the high grade intercepts. Hard ot say if RLG only posted the best dril lintercepts. Why even mention this ? Simply put - while reviewing some of their dril lcore data in ( line ) visuals - i see several
coloration line markers - which begs- are these only gold grade intercepts or.. .does it also include other mineralization ?
2016 43 101 - link
https://www.westredlakegold.com/site/assets/files/1538/technical-report-and-resource-estimate-16-february-2016.pdf
Not investment advice
Just open thoughts.... in bewilderment as to why RLG is not seeing a rightful valuation on thier in situ gold ounces. Did i pick up a few RLG shares - yup.
Now i'm in 2 red lake plays.... Got tired of the B.C. rain storms.
In Closing -
I figure a revamp on thier 43 101 would certainly help - bring order ot all the pieces.
Incorporating all thier drill data since 2017 - and - perhaps test for other minerals aside of the gold - could spruce this project up - bringing all the more clarity -
WILD CARD - zinc and copper and the what if...they have other mineral credits.
Could it change the dynamics from chasing veins with shafts to - open pit ?
Rowan's main ore body is all under 500m depth.
Yes.. .after seeing the words in thier 2016 tech report - chalcopyrite and sphalerite ( zinc ) - sphalerite in 10's ot 100's of feet - and - knowing South Bay Mine is in same district reknowned for their copper and zinc- makes it all the more - intruiging.
Cheers....