2024 ended w/ our 2nd accretive acquisition, expanding our production profile & establishing a pipeline for growth.
2025 will be about advancing the underground in 🇳🇮, the engineering and permitting in 🇬🇾, and the restart of mining operations in 🇺🇸, as well as additional accretive M&A
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In addition to new drilling +2021, we ALWAYS model on geology/lithology.
There is a major fault that cuts through the resource: the structurally controlled vein in the Monzonite is NOT the same thing as the stockwork in the Tuff.
Resource at Las Conchitas so we can begin mining LC in late Q4.
DISCOVERY at one or more of our regional targets.
Rapid debt repayment.
Exciting year ahead!
$mko.v
You can see we’re into the graphitic part of the deposit, ~marking the transition between oxide and fresh rock.
We haven’t seen ANY diminution to recoveries. Biggest challenge is this material turns into little balls that gum up our stock tank, but easily manageable.
We received drilling permits at La Segoviana (a few weeks ahead of schedule).
We also began the process of acquiring the most prospective areas of surface rights. I’ve mentioned this publicly before — I think Segoviana will be a mine w/in 3 years.
Cesar (VP Corp Dec) has also left the company to focus on his other endeavors — especially as Executive Chairman of $btr.v when Marc-Andre comes in as CEO in a few weeks.
Today’s thread is about sampling and dilution (key risk #3 of my pinned tweet). I have real time mining pictures below.
Punchline is tolerances are tight and dilution has been ~10%.
But data coming from just 1 or 2 benches ain’t worth schist.
$mko.v 2/8 Recap of what we’re doing.
6-8m blast holes, taking 1-1.5m samples along the way. With BH data, open up 3m half mining benches. Geologist mark contact with FW/HW with blue paint. With excavator, remove the waste up to paint. Then remove “ore” to the FW contact.
$mko.v 3/8 Blast holes have 2 problems.
1. geology is not so kind to have straight 1m lines, so sample grades at contact point will be diluted.
2. RC and DH have good corr., but BH systematically underreport high grade (we have data to support this — prob. because of fines)