Tombill Mines Ltd V.TBLL

Great summary of Tombill Mines (TBLL)

[ndiamond]

Great summary of the Tombill Mines deal that was sent to me by a colleague that participated in the financing.      Tombill has a project that is completely surrounded by the Greenstone Hard Rock Gold Project (fully permitted, full feasibilty study) soon to be owned by Equinox Gold (carrying out takeover of Premier Gold) and by Orion Finance (buying out Centerra Gold's 50% interest in the project.    I speculate that Equinox will ultimately want to own the Tombill project -  which, if you examine the geology,  could possibly hold 3 million to 5 million ounces of gold !!     Very exciting times for Tombill Mines (TBLL)...and great timing to go public.    

Personnel:

CEO – Adam Horne (Caledon Partners, London based Hedge Fund)

Technical Advisor & Director – Ian Stalker (K92 Mining   TSX : KNT)

 

Investment Highlights:

• Tombill holds claims are surrounded by Premier Gold (TSX: PG) / Centerra Gold's (TSX : CG) Hardrock Project

• • Hardrock is multi-million ounce deposit (6.4Moz Au in M&I, 2.5Moz Au inferred)
  • Over $185M is committed to the project by Centerra
  • Tombill aims to delineate on its property the deeper F-Zone type mineralization that is intersected at Premier Gold’s Hardrock Project (see figure 1 and 2).
  • The geological setting, mineralization and geometry of gold mineralization at the contiguous Hardrock Project shows that all the F-Zone, SP-Zone and K-Zones, that host the multi million ounce deposit are open down plunge. They are drill hole intercepted adjacent Tombill’s east boundary (see figure 2)
  • Premier defined a broad high-grade mineralization within 100 m from Tombill’s property with drill hole MM170, intersecting 18.49g/t gold over 20.5m.
  • DH MM170 is a step-out from MM157 that intersected similar width of mineralization: 4.36 g/t gold over 17.8m. Both drill holes are in turn 500m step-out from MM179C that intersected 7.92 g/t gold over 114.5m, including 23.56 g/t gold over 31.0m.
  • Figure 1 illustrates the geologic continuity of F-Zone type mineralization into Tobmill’s property.
  • Moreover the Bankfield-Tombill Fault, which is associated with past-producing mines in the area, crosses the entirety of the Tombill property.

 

In Summary: The Tombill property is highly prospective not only as a result of the consistency and continuity of gold mineralization that trends into the property from the Hardrock project, but also from the presence of mineralization associated with the Bankfield-Tombill Fault that crosses the entirety of the property from south east to northwest. Most of the mineralization in the area and many of the past-producers appear to occur in its vicinity or are associated with the fault.

 

Figure 1: Longitudinal Section of recent F-Zone drill-hole pierce points

 

 

 

Figure 2: Longitudinal of the Hardrock Deposit

 

• Tombill plans to verify the continuity of F-Zone’s mineralization onto their property through a 15 hole drill campaign beginning immediately following this financing

• • First results expected in Q1 2021

• Prime mining district with optimal infrastructure

• • Trans-Canada highway splits Tombill’s property. Local town and infrastructure all very supportive of mining operations

• Experienced and incentivized management team

• • Management/board has over 90 years of experience in the mining industry, and over 50 years in the Geraldton Beardmore area
  • Management and board ownership post financing will be 41%

 

• $6,500,000 raise in connection with RTO
• $0.15 per unit.  Some FT at $0.165 per unit.

• • Each unit consists of 1 common share and ½ warrant (exercisable at $0.23 for 2 years)

• Post Money Market Cap: $22.0M
• Tombill has no debt