 |
|
    |
  |
🕐11.05.10 - 23:17 Uhr
Jennings Capital Inc Initiating Coverage on Trelawney Mining and Exploration
If you have trouble seeing this e-mail, please click here:
Add to your address book or safe list to ensure delivery of email blasts (click for instructions) Jennings Capital Inc Initiating Coverage on Trelawney Mining and Exploration Trelawneys main asset is the Chester Project, located along Highway 144, half way between Timmins and Sudbury. Geologically, the project is situated along the western extension of the Kirkland Lake - Larder Lake break, which is part of the prolific Porcupine - Destor Fault Zone. The Company has consolidated a fragmented land position that hosts several mineralized shear zone, surface showings, trenches, shafts and underground lateral development. The most advanced of these is Chester 1, which hosts a decline from surface, lateral development on four levels and raises driven through ore. A 650-Ton bulk sample was extracted, but no other mining has taken place. The Company expects to commence production from Chester 1 in August or September of this year, at a rate of 250 Tons per day. This low rate of production is designed to maximize recovery of the high grade (i.e. 0.36 oz/Ton) resource. On this basis, production is expected to be approximately 30,000 oz per year. After Chester 1 has properly been put into production, the Company expects to develop Chester 2, and then Chester 3, also at 250 Tons/day, yielding approximately 30,000 oz/year each, for total possible production of 90,000 oz Au per year. Trelawney has recently been gripped with excitement over its new discovery of a bulk tonnage / low grade Archean porphyry deposit, called Cot� Lake, which is located at surface, just west of Chester 2, and remains open in all directions. Drill results have been released from Cot� Lake on two sections spaced 100 metres apart. Using a 30 g/t cut grade, we estimate that these two sections contain approximately 624,000 oz Au at a grade of 1.2 g/t down to a depth of 350 metres below surface. The Company has since drilled two additional sections stepping outward an additional 100 metres in either direction and reports that the geology remains consistent with its interpretation on the first two sections. Assays from these holes are pending. Click here to read the full report by Jennings Capital Inc. Click Here for a Free Real-time Stock Quote on TSX-V: TRR
|
© 2024 by Commodity.at |