NEW MINE STARTING

I am starting a new gold mining project in Zimbabwe. I have contacted a Geologist and Geophysicist who did a Magnetic Survey on the target area. He also did a Resistivity and I.P. Survey. No other method was used and one has to dig 8 meters into mudstone to get to rocks of any kind as there are no out-crops. There are people mining near the area and his interpretations were also based on information he got from shafts dug by the other people nearby.
He tells me to be more sure it would be prudent to diamond-core-drill ten 60 meter holes along the target area which would cost US$48,000 at US$80/meter.
If I sink one 60-meter shaft in one of the positions identified by the surveys, it would cost me less than $20,000 to do so including buying the equipment and paying laborers.
As an artisanal miner would it not make sense for me just sink a shaft and hope, because generally, people mining within 200-meter radius of this area are getting very high yields of gold, more than 100g/ton sometimes? The hope would be the reef is basically the same as it is the same greenstone belt.

Please note i am not looking for investors, i am asking for advice, genuinely only advice. My last post was locked by admin on the basis the platform is not for soliciting for money. To me, this was unjust, as i never asked for anyone's money nor am i now

I could have attached the results of the magnetic, resistivity and isurvey'sone done but unfortunately i dont have 10 posts yet.

I apologize on behalf of PA :Y: we get alot of scams here
The hope bit could be expensive, I'm no pro and not sure, but can you find a cheaper way to drop some test holes, second hand unit or maybe a rental
Probably not the type of area that gear would be easy to get, how about a loan machine from another mining company?

B5MECH said:

I apologize on behalf of PA :Y: we get alot of scams here
The hope bit could be expensive, I'm no pro and not sure, but can you find a cheaper way to drop some test holes, second hand unit or maybe a rental
Probably not the type of area that gear would be easy to get, how about a loan machine from another mining company?

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Would it be mad of me to just sink a 60m shaft and explore along the the way down? Crazy as it seems, doing that is not that expensive.

I don't know how to read the maps, but If you were close to the spot and could chase the gold in any direction, then definitely
Miners have done it that way for ever and chase the reef underground
https://www.youtube.com/watch?v=7HN-Ltjorbk
If the payload is there and your on the money then hell yeah, they just keep chasing the gold :Y:
I'm no miner but someone will pipe in with more knowledge
As long as it's there you'll find it

Hopefully some answers start rolling in for you Rios, it's work hours here at the moment, hopefully any miners here can answer some questions for you tonight.

Cheers

Gday Rios, I cant help but see the word (hope) in there a few times!

That hope, could cost a lot! 20k a pop? what if its a bad spot or they miss it by a few feet and so on??
I would go for 5-10 small drill holes and be sure where it is and how much there is!
Also how long will it take for the results of said tests? Core samples will need Proper chemical tests for full report on gpt grades and other viable minerals.
Knowledge is priceless, I would not go cheap on it.

Then plan to start at the best of those test holes, to get your funds back as quick as possible.
That's just me mate, Good luck.

Brother said:

Gday Rios, I cant help but see the word (hope) in there a few times!

That hope, could cost a lot! 20k a pop? what if its a bad spot or they miss it by a few feet and so on??
I would go for 5-10 small drill holes and be sure where it is and how much there is!
Also how long will it take for the results of said tests? Core samples will need Proper chemical tests for full report on gpt grades and other viable minerals.
Knowledge is priceless, I would not go cheap on it.

Then plan to start at the best of those test holes, to get your funds back as quick as possible.
That's just me mate, Good luck.

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Hope eternal

Urmm cost per pop isnt 20k as such as that 20k included capital equipment like compressor and jackhammers and water pump and enviromental impact assessment certificate, eg I bought a kaeser 185 cfm for 8k pre-owned 2015 compressor, wilden diaphragm pump for 2,3k new

The cost of sinking a shaft would be about 5k, labour being cheap, timber freely available. Explosives would be the major operating cost driver.

I am placing a bet here.

Its

1. i spend 12k maybe for two 60m core holes and either get good samples or not get, with the chance that the drill can miss the target anyway

2. I sink a shaft for 5k or so and explore the underground as i go and either score or fail to score

In your case I would go for option 1.
It would gain you a lot of Kudo's with the locals being able to offer work and income for them.
So what you have bought in equipment is worth more than the labour to put down a 60 meter
or close to a 200 foot shaft. ?

Tathradj said:

In your case I would go for option 1.
It would gain you a lot of Kudo's with the locals being able to offer work and income for them.
So what you have bought in equipment is worth more than the labour to put down a 60 meter
or close to a 200 foot shaft. ?

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Option 1 being drilling? That definitely would not employ any local. Did you mean option 2?

Yes the equipment is worth more than the cost of putting down a 60m shaft.

Oops,
I meant option 2. Sorry.
Sink a shaft then drive.
That way you have not gone to considerable expense.
True, Drilling is more expensive and not as time consuming.
Also depends on how much you trust the Data that has been collected.
That I would call an educated guess.
At least the risk's are lowered.

Hey rios, B5MECH offered apologies on behalf of PA, and so do I. Yours looks the genuine article, but we have seen so many attempted rip-offs here. We prospectors may not be the "sharpest tools in the shed", but due to the nature of the business, we're always on the watch for scams and watch each other's backs. We wish you good luck with your venture. I'll enjoy following your quest for as long as you post.

as above mate :8 :8 :8

Tathradj said:

Oops,
I meant option 2. Sorry.
Sink a shaft then drive.
That way you have not gone to considerable expense.
True, Drilling is more expensive and not as time consuming.
Also depends on how much you trust the Data that has been collected.
That I would call an educated guess.
At least the risk's are lowered.

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I think subliminally that's all I wanted to hear. we all got to try something at some point

BigWave said:

Hey rios, B5MECH offered apologies on behalf of PA, and so do I. Yours looks the genuine article, but we have seen so many attempted rip-offs here. We prospectors may not be the "sharpest tools in the shed", but due to the nature of the business, we're always on the watch for scams and watch each other's backs. We wish you good luck with your venture. I'll enjoy following your quest for as long as you post.

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Thanx hey its all good

Sorry bud! You just sounded like another scammer.

Glad you are legit.

Rios,
having read your more detailed explanation, it looks like you weren't comparing apples with apples - you are actually comparing drilling 10 holes at about $4,800 ea with digging one shaft at about $5,000 (the equipment is bought, and you've still incurred that cost regardless of what you choose)

You could dig your shaft, find little or nothing, move on a bit, dig another, rinse and repeat until you 'hopefully' find something. Do that 9.6 times and you would have been better off drilling (though you do have your shaft should you hit something right then...) On the other hand, drill holes are easier and cheaper to cap than useless shafts ...

By the way, you commented about explosives being a determining factor - are you aware of ANFO?

Chris