Guest post:
Shotgun Gold: The Pitch for Elevation
Shotgun Gold is a Project located in South West Alaska, USA, in the same regional area as Novagold’s Donlin Gold Project.
Lang’s & Baker’s 2001 academic study specifically identifies both projects as ‘major porphyry granite related gold deposits’ that are related to a widespread magmatic gold mineralising event. Riveting stuff. What it implies in layman’s terms is that both projects arose from the same geological kitchen sink, leading one to the supposition that they should both possess similar favourable geological properties.
To that effect, Shotgun’s general mineralisation style resembles the neighbouring Donlin Gold project. For instance, Shotgun’s particular intrusion is associated with 69.7Ma magmatism while Donlin Gold holds 70ma magmatism.
Shotgun’s particular boon is in the details. Shotgun’s mineralisation has been identified to possess little-to-no ‘nugget effect’. A high ‘nugget effect’ means high variability between samples that are closely spaced. ‘No nugget effect’ implies tight-fisted uniform mineralisation of a bulk tonnage gold system. There’s no need to dig up empty rock space so the stripping ratio for any potential mine will be low, keeping costs way down.
What’s more, when a system’s topographical layout lines up neatly at the top of a ridge like Shotgun’s does, it means the extraction of resource systems in similar conditions is very efficient - there is no need to remove layers of empty waste rock by tentatively stripping the ridge. Instead, one decisively takes the top of the hill in its entirety. Shotgun’s targeted bulk tonnage gold system runs from the very surface down to *at least* a depth of 150m (Open). ‘Open’ means exploration to date has not identified the end of the mineralization from the drilling performed so far.
For the Shotgun Gold Project, Shotgun Ridge is just one of the multiple gold target areas controlled by TNR Gold. ‘Shot’, ‘King’ and ‘Winchester’ add to the collection to form a distinct district with five (5) separate gold exploration targets identified so far.
The Company is actively introducing Shotgun Gold to potential partners to decisively drill the entirety of these prospects. The objective of such a partnership would be to expand the known area of mineralisation, define new mineralised areas and conclusively assess the Project’s potential top-end valuation.
“We need to bring US$10mln in to drill the project very strongly,” says TNR Gold Executive Chairman Kirill Klip. “The first US$5mln to take the project from the current 700,000-ounce resource up to the two million ounce mark, the rest to drill out five nearby targets. There’s no reason to suppose that our ground cannot hold multiple mineralised systems.”
Please always read legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blog. Always consult a qualified financial adviser before any investment decisions.
Do Your Own Research.
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