You can ask any 2 geologists and get 3 or more answers to what Discovery Mine is.
A simple way to look at Discovery is to look at all of the deposits within the Yellowknife Greenstone Belt and see which deposit it most closely resembles.
Then, look at that well defined deposit that it closely resembles, and apply the key aspects that best define it to Discovery.
The Yellowknife Greenstone Belt contains:
1. Archean-hosted, structurally controlled gold deposits associated with quartz, sulfide, and alkali (potassic) alteration. These are principally (not exclusively) within igneous-dominated rocks (volcanics, intrusions). Examples are the Miramar Con Mine, Giant Yellowknife Mine, Mon Mine, Supercrest Mine, Akaitcho Mine. These include the multimillion ounce deposits that are very extensive laterally and to depth.
2. Same as above, but within sediment-dominated successions, limited alkali alteration, and generally lower sulphide concentrations. Examples include the Ptarmigan Mine, Tom Mine. These rarely if ever contain in excess of 500,000 ounces. These are generally restricted in dimension.
Discovery has two zones of mineralization, the old workings, and the Ormsby Zone. As reported, the old workings accounted for 1 million ounces of gold extracted from 1 million tons of a low-sulfide quartz vein system within sedimentary rocks adjacent to and in part within volcanic rocks. The Ormsby Zone is hosted entirely within volcanic rocks, associated with sulphide bearing quartz veins. There is a potassic alteration within the mineralized domains.
From this it would appear that Discovery is more similar to the first class of Yellowknife deposits. It doesn't mean it will be large or extensive, but it's a good indication of potential.
We know from Yellowknife experience that these deposits are not simple to delineate. Mineralization is associated but not exclusively within quartz veins. Rarely if ever do the measure resources (proven ore) of these deposits ever exceed 1 million tonnes without extensive underground workings. The Mirimar Con Mine and the Giant Yellowknife Mine (both produced in excess of 5 million ounces of gold at close to 0.5 ounce grades) rarely if ever had more than 3 years of measure or proven ore. They rarely if ever had more than 10 years of measured and indicated (proven and probable) ore. Both have been in production in excess of 50 years.
I don't know what this means for Discovery. I feel positive about its potential though. Mind you, it's gold, so you either love it or leave it in this market!??
Dave |
