Sopwithfan
12 years ago
"sparty_lea" wrote:



It seemed most of what they were saying about Ireland was to demonstrate to the locals that they were an experienced company with sucessful operations elsewhere and not some fly by night operation.



Full details of MINCO's ideas can be found in an RNS released by the company on 2nd November 2012 which may be found at:


http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MIO&ArticleCode=rsrqvy4f&ArticleHeadline=Exploration_Initiative_in_North_Pennines_England 

In it they specifically state that they think the NPO is like the IMO as per their remark:

"The North Pennines is likely to be similar to the zinc-lead deposits of the Irish Midland Orefield, and other similar deposits worldwide, where the lower most massive limestone horizon tends to be the most strongly mineralised."

In other words they believe that as the mineralising solutions came up from the pre-Carbonifereous basement they will have preferentially mineralised the first available limestone (in this case the Melmerby Scar) as happens in Ireland. That means that the success or failure of this project hinges on them finding something large in the MSL, which has not happened to date on the basis of the results they have released so far.

Dave Greenwood.
gNick
  • gNick
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12 years ago
Minco are still pushing their case, on Look North again last night with the the 'looking promising so far' message. Potential job count has dropped from 500 to 300.
Also some careful camera work to show off the outstanding natural beauty around the current drill site but managing to miss all the signs of mining, such as the other side of the road!
Don't look so embarrassed, it's a family trait...
Sopwithfan
12 years ago
Also more about this in the Hexham Courant at:

http://www.hexhamcourant.co.uk/news/allenheads-mine-venture-to-create-500-jobs-1.1080632 

Does anyone have a link to the BBC Look North report last night? There are also rumours of helicopter activity in the Dales today.

Dave Greenwood.

PS The Hexham Courant was once owned by none other than the great Thomas Sopwith himself!


John Lawson
12 years ago
In amongst our discussions, I do not remember, how many holes were they to drill? And how many have actually been completed?
Having looked at web site, that Dave, posted it gives me the impression, that here is a small company trying to up their share value.
Clearly if anything is discovered, somebody is going to have to pay for more drilling,

Hence the original question.
ardtole
12 years ago
I think seven holes, was the initial numbers of holes to be drilled. Four have been completed and results analysed and made public. I gather that two of the other three holes have been drilled and I assume they are drilling the third at present although no results to date have been released.

I think there is planning permission being sought for at least one more hole in Northumberland I think, but i am open to correction on this.
Sopwithfan
12 years ago
"John Lawson" wrote:

it gives me the impression, that here is a small company trying to up their share value.



You could well be right John. The SP has gone up from 2.0 p on 12/8/13 to 4.25 p yesterday after the blaze of publicity in the NE press and on TV.

Dave Greenwood.
bobmartin
12 years ago
Lad's, Minco is about much more than the Pennines. It owns 30 million shares in Xtierra whose SP has gone from 7 cents (canadian) to 27 (worth 8 mil CAD or £5 mil) in the last month. The results of a major study are due any day now. They expect to be listed on TSX (or similar) in Sept. Buchans ( was BMC/TSX) are now owned by Minco 100%. They have a major manganese deposit in central Newfoundland. Work on that is very far advanced. There should be quite a lot of news in the next few months.They also have a nice cashpile which they received for their stake in Pallas Green in Ireland. The Chairman is John F.Kearney. Google the name to see what else he is involved in, Labrador Iron Mines, Canadian Zinc, Anglesea and much more. I have Mio shares and I think potential shareholders should see the full picture if interested in Minco. Exciting times ahead.
RJV
  • RJV
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12 years ago
"bobmartin" wrote:

Lad's, Minco is about much more than the Pennines. It owns 30 million shares in Xtierra whose SP has gone from 7 cents (canadian) to 27 (worth 8 mil CAD or £5 mil) in the last month. The results of a major study are due any day now. They expect to be listed on TSX (or similar) in Sept. Buchans ( was BMC/TSX) are now owned by Minco 100%. They have a major manganese deposit in central Newfoundland. Work on that is very far advanced. There should be quite a lot of news in the next few months.



As far as I can tell, all of their assets appear theoretical, they haven't actually started mining yet?
The only figure you have mentioned in your post - £5m- is chickenfeed in mining terms and if thats the sort of sums they deal in then the previous posters seem to be correct in their judgment?
derrickhand
12 years ago
Were I a cynical soul, which heaven forfend, I'd have bought their shares last month at 7c and be selling at 27c
plus ca change, plus c'est le meme chose
John Lawson
12 years ago
Thanks for the drilling info, as I said earlier more money would be needed for a larger drilling programme, and going back to my original point i see an exploration company looking for a big player to share these costs.
Putting share prices in perspective, whilst Minco's are listed in cents, RTZ's and BHP Billiton are around the £30 & £20 respectively.
Minegeo
12 years ago
When I hear that they have ten rigs on site I would be intetrested in their shares - until then its just another exploration play and, to be honest, scraping the barrel to compare the NPO with the Irish orefield as there are very few geological similarities.
Sopwithfan
12 years ago
Latest from the Company:

http://minco.ie/newsReleases/2013/MIO%20 (Interim%20Report%20and%20Accounts)%2020130830.pdf

CA005 "sparsely disseminated weak mineralisation". CA006 "encouraging lead-zinc mineralisation". An exploration update will be posted when the assay results are available.

The position of the two boreholes is not given but it is believed CA005 was at Haggs and CA006 near CA001.

Dave Greenwood.
sparty_lea
12 years ago
"Sopwithfan" wrote:

"sparty_lea" wrote:



It seemed most of what they were saying about Ireland was to demonstrate to the locals that they were an experienced company with sucessful operations elsewhere and not some fly by night operation.



Full details of MINCO's ideas can be found in an RNS released by the company on 2nd November 2012 which may be found at:


http://www.lse.co.uk/share-regulatory-news.asp?shareprice=MIO&ArticleCode=rsrqvy4f&ArticleHeadline=Exploration_Initiative_in_North_Pennines_England 

In it they specifically state that they think the NPO is like the IMO as per their remark:

"The North Pennines is likely to be similar to the zinc-lead deposits of the Irish Midland Orefield, and other similar deposits worldwide, where the lower most massive limestone horizon tends to be the most strongly mineralised."

In other words they believe that as the mineralising solutions came up from the pre-Carbonifereous basement they will have preferentially mineralised the first available limestone (in this case the Melmerby Scar) as happens in Ireland. That means that the success or failure of this project hinges on them finding something large in the MSL, which has not happened to date on the basis of the results they have released so far.

Dave Greenwood.



Their geologist said several times that the idea that mineralisation might be stronger at depth in the n. Pennines was not new and that Dunham had suggested it.
It surprised me at the time as I had never picked that up although sphalerite values increasing with depth is something that appears in Dunham regards the Rampgill Mine and also on mine reports for St Peters in East Allendale.

There are 10 types of people in the world.

Those that understand binary and those that do not!
John Lawson
12 years ago
Passed the rig on the Coalcleugh/Nenthead road yesterday, it was dismantled and ready to move on.

The question must to where?
Sopwithfan
12 years ago
"sparty_lea" wrote:

Their geologist said several times that the idea that mineralisation might be stronger at depth in the n. Pennines was not new and that Dunham had suggested it.
It surprised me at the time as I had never picked that up although sphalerite values increasing with depth is something that appears in Dunham regards the Rampgill Mine and also on mine reports for St Peters in East Allendale.



Sorry for the late reply. Essential gardening had to be done this week before the rain turns my garden on the London Clay into something like the Western Front.

Dunham reviewed the prospects at depth for all three Pennine orefields (Alston Block, Askrigg Block and Derbyshire) in a YGS paper in 1988. His overall conclusion was that in all three areas the mineralisation was of considerable lateral extent but only limited vertical extent and that in the case of the Askrigg Block erosion had reached below the base of the mineralised zone. He discussed the Alston Block in more detail in his 1990 BGS memoir (Chapter 15) and drew attention to the possibilities of mineralization in the Whin Sill, the beds around the horizon of the Robinson Limestone (because of thick sandstone units within the cyclothems) and in the Melmerby Scar Limestone. However, it is clear that he was thinking in terms of vein oreshoots (for example comparing prospects in the Whin with Settlingstones) and not in terms of the type of massive replacement orebodies envisaged by MINCO.

Dunham always stressed that the orezones in the NPO were generally of limited height and that the flow of mineralising fluids had been mainly in a lateral sense with a particular concentration at about the horizon of the Great Limestone. He believed that this was due to a combination of the thickness of that unit, its susceptibility to metasomatic replacement (flats) and the fact that it occupied a key structural position when the veins were formed during the uplift of the Teesdale Dome with vein fractures narrowing downwards and passing into the bedding upwards, which is why the veins do not outcrop on the high fell tops. Because of this effect, he believed there was no reason to expect veins to be mineralised at deeper levels except in the vicinity of the major emanative centres, which he lists as Tynehead, Groverake, Stotfield Burn, Cambokeels and Burtree Pasture on the basis of the mineralogical evidence with fluorite giving way to quartz and galena giving way to pyrite, pyrrhotite and chalcopyrite at depth.

There do seem to be occasional reversals of the zoning pattern with galena passing down into sphalerite, which in theory should not happen, but it may just reflect local conditions. Given the complex plumbing system in the ribbon oreshoots it is always possible that in some cases the mineralising fluids actually moved downwards or alternatively it may be just an effect produced at the extreme edge of an oreshoot.

Dave Greenwood
PeteJ
  • PeteJ
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12 years ago
Drilling Rig is in the same position above Scaleburn vein, west of county boundary. No activity on 10 September.

The Swinhope reserves values are in Dunham NPO Vol 1, 2nd edition.
Pete Jackson
Frosterley
01388527532
ardtole
12 years ago
Minco's AGM is on Thursday and the latest drill results from the North Pennines region are expected to be announced. There is speculation they are very favourable but it is a case of wait and see for me.
Sopwithfan
12 years ago
MINCO's interim Report & Accounts to 30th June 2013 is now available at:

http://www.minco.ie/AGM%202013/2013%2008%2029%20Minco%20Directors%20Interim%20Report%20and%20Accounts%20August%202013%20BOOKLET%20 (2).pdf

Heavily orientated to the NPO with lots of nice historical photos and a new geological cross section that at last shows they recognise the Weardale Granite. Otherwise very little in the way of new information except that BH CA-007 is 50 m NE of CA-006 "designed to test for a continuation of the stratiform mineralisation within the Great Limestone intersected in CA-006". No further assay results so far - but possibly some were announced at the AGM in Dublin today and may come out later.

Dave Greenwood
Sopwithfan
12 years ago
As expected an RNS was released to coincide with the AGM giving almost full details of the first eight boreholes. See:

http://www.investegate.co.uk/minco-plc--mio-/rns/drilling-update/201309261328309939O/ 

Nothing seems to have been found so far in the lower limestones but MINCO are still confident and have announced that a third phase of drilling is planned for next year so there will still be plenty of rig-chasing to do.

Dave Greenwood.

PeteJ
  • PeteJ
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  • Newbie
12 years ago
Met with four of the Minco team at Nenthead on 25th September. I asked for a donation of drill cores for display in the Nenthead Mines Conservation Society exhibit within the Smelting Mill. Ever hopeful......
Pete Jackson
Frosterley
01388527532
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