I've been thinking about Midrim, JP. While you and Bruce give good reasons for not being too optimistic, I'm not sure I can accept them. Consider a few notes.
You write the following JP: <<<The Midrim area meets some of these conditions (Mafic rocks, sulfides, little differentiation). But structures are small (sills, dykes..), which means less volume and rapid cooling.
So, yes there is PGM at Midrim, but according to me not enough volume to deliver a world class mine.>>>
Firstly, I wasn't hoping for a world class mine... in either base metals or PGMs. Secondly, have we really learned that much about structure and particularly at depth? Seems to me that still remains to be answered. Could the sills and dykes encountered so far not stem from a larger source below or elsewhere.
Consider some values reported by ARP: <<<Holes 1 and 5 intercepted well-mineralized gabbroic rocks containing disseminated and massive sulphides. Intersections in hole 1 included 19.7 metres of 2.99% copper, 1.85% nickel, 0.07% cobalt, 0.97 gram platinum, 1.77 grams palladium and 0.48 gram gold per tonne. High-grade intersections in hole 5 included 6.3 metres of 4.74% copper, 4.94% nickel, 0.11% cobalt, 1.24 grams platinum, 4.71 grams palladium and 0.17 gram gold.>>>
True width is not given but if it's anywhere near reported core width, these are not narrow dykes or sills. Rather they are mineable widths with excellent values. Given their location and nearby infrastructure, not too bad methinks.
Bruce mentions faulting on ground to the south. This may be a serious potential problem at Midrim. Geological structure trends roughly east/west while faulting trends north/south. The question will be learning the number of faults and the amount of displacement. In an area of heavy overburden, many and perhaps most faults may not be evident... until drilled. I can imagine some very frustrated geos.
However, is it not likely that runs of several hundred meters will be found with little or no faulting and/or only minor displacement? And if so, what tonnage might be possible assuming reported widths and grades were maintained to depth? I get some worthwhile numbers.
With the above in mind, seems to me they could have a chance at developing a few million tonnes. If anything near reported grades held, it could be a very attractive proposition.... and consequently a good exploration bet at this time.
As a final note, I've been lucky investing in some juniors that eventually developed smaller mines. Unfortunately, I've always missed out on the really big plays like Hemlo or Voisey, etc. Still, there were some nice wins along the way and that's all I'm after now. Consequently, I think the Midrim property could develop into something... and if nothing else, perhaps a good market :-))
Regards,
Bob |
