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Power Metallic CEO Terry Lynch talks with CRUX Investor about the maiden Lion resource and the drilling completed since the April cut-off.
Watch:
https://t.co/J5trWMErYR
The Deep Dive breaks down the Lion maiden resource: the grade, the tonnage, and what the estimate settles and leaves open.
Worth watching:
https://t.co/7bpZrm25il
What an honor it was to meet the one and only @MikeBloomberg today. I’ve been a devout @Bloomberg Terminal user and fan of everything Mike has built for decades. All days are not created equal. This was a special one.
We have found the copper at Lion.
The palladium, the platinum, the gold and the silver are all sitting in there with it.
We have not found the nickel.
That is not a complaint. It is a clue.
In a magmatic sulphide system the molten sulphide cools in a set order. The nickel rich material crystallises first. What is left behind gets progressively richer in copper, platinum, palladium, gold and silver, and that leftover liquid is the mobile one. It travels furthest from where it started.
Lion looks like the material that travelled. Copper and precious metals, with only minor nickel and cobalt, and the highest palladium grades sitting inside massive copper sulphide.
Which leaves a fair question. If Lion is what moved, where is what stayed?
We do not know yet. It should be somewhere in that system. We have not found it.
The long section in yesterday's release shows the other half of this. Our model runs from surface to about 600 metres vertical depth and stops. It stops because that is where the drilling in the estimate stopped.
Underneath it there is a geophysical conductor plate. We have put holes into that ground since the April cut off date, at 765 and 890 metres, and they intersected visible copper. Assays are pending.
I am not going to tell you what those holes will return, because I do not know. But we like what we see 😎
Five rigs are turning. Assays on Lion Deep are expected by the end of September.
Power Metallic Defines High-Grade Maiden Resource at Lion Averaging ~3.9% CuEq, with >85% Indicated and Significant Expansion Potential
https://t.co/kNsXbEVyxK
You won't see these stats on @FoxNews.
Since 2019, California's brave men and women in uniform have made major progress in bringing crime across the state to record lows.
Homicide ↓ 20%
Robbery ↓ 31%
Property crime ↓ 24%
Motor vehicle theft ↓ 19%
Violent crime ↓ 3%
Is there potential for a 'stock-out' in the zinc market, as well as the copper market?
Today, there were 8,675 tonnes in freshly cancelled zinc warrants (zinc for physical delivery from LME warehouses), increasing total cancelled zinc warrants to 30,875 tonnes... which is just under a third of the total 99,125 tonnes of zinc stock currently in LME warehouses. Therefore, only 68,250 tonnes of net zinc stock remains available.
The zinc price continues to climb... which means the market is telling us that available metal supply is tightening.
I asked one of our new investors why they were even looking at us. We're small. The answer has stuck with me.
They said they already own the big mining companies. If they don't come down the scale to companies in our range, they don't actually get the exposure they're trying to buy.
That's a generalist fund. Not a mining specialist.
They're not here because they love junior explorers. They're here because owning the majors on its own no longer gives them what they want.
We're seeing more of that than we used to.
Full conversation: https://t.co/QVLFyACnn9
$PNPN.V | $PNPNF | $IVV1
Quick update on where the resource estimate stands.
We are getting the numbers today. There is a normal back and forth with the engineers and geologists first, checking the models are accurate.
We expect it out Thursday. If more work is needed it could move to Tuesday.
$PNPN.V | $PNPNF | $IVV1