For people following this thread you will have read that according to the CSA Global independent geological report (in the ADT IPO prospectus), "a possible model for the Vares mineral field is a hybrid SedEx-volcanogenic massive sulphide (VMS) deposit style known as Besshi-style VMS."
In November 2015 I downloaded the database of all VMS deposits of the world that was the basis for the preparation of this USGS report.
Volcanogenic Massive Sulfide Deposits of the World—Database and Grade and Tonnage Models (By Dan L. Mosier, Vladimir I. Berger, and Donald A. Singer Open-File Report 2009-1034 U.S.)
I took the GoogleEarth data from the database (which contains information on 1,090 VMS deposits) and rendered it on an animated video which you can watch below. The red, yellow and green pins follow the same classifications as used in the USGS report, which are shown in the table below.
Red = Felsic
Yellow = Bimodal Mafic and
Green = Mafic
The Bessih-type of VMS deposit proposed as a possible genetic type for Vares by the CSA report falls within the Mafic classification according to Kuroko (1986) and Prokin and Buslaev (1999).
You will notice from the video (about 2min 50sec in) that no VMS deposits of any type are recognised at Vares or anywhere in the former Yugoslavia or the surrounding countries for that matter based on the recognised VMS deposits in the USGS database (at the date of currency of the data circa 2010). If you stop the video at that point you can see the distribution of VMS deposits in Europe and Western Russia. The strong line of yellow and red pins along the Ural mountains in Russia shows a predominance of Bimodal-Mafic and Felsic deposit types and there is a strong cluster of similar deposits in eastern Turkey and Georgia with some Mafic types.
Back in the day when I was just out of University I was briefly involved in trying to help the now deceased entrepreneur Kevin Parry float a company out of West Perth. Kevin saw the opportunity after the collapse of the Soviet Union and travelled to Georgia to sign options over some old statal copper mines in Georgia along with a big gold mine called Zod in Armenia. For people who are to young to remember Kevin Parry was one of the WA Inc era entrepreneurs in the Alan Bond era who formed a syndicate that unsuccessfully defended the Americas cup in Fremantle in 1987. The defence cost over $20 million and he built three 12 metre boats: Kookaburra I, Kookaburra II, and Kookaburra III. Kookaburra III raced in the final and was defeated by the American boat Stars and Stripes 87. The Zod and copper ventures happened after the 1987 stock market crash which wipe him out when he lost control of Parry Corporation. Unlike Alan Bond, Parry didn't make provisions for himself before the crash so had to start from scratch. The come back with the Georgian and Armenian ventures failed after he took it to New York (because few people in Perth would touch him anymore) where he found two brothers that were slipperier than he was. I digress.
The fact that no VMS deposits appear in the USGS database at Vares or in Bosnia & Herzegovina
at all, is consistent with the fact that the Geological Institute in Bosnia classified them as being of sedimentary exhalative (SedEx) origin.
I haven't had time to look at the deposits held by RIO and other companies in slide 3 of the latest company presentation to see what type they are and if any of them are VMS deposits discovered after the publication of the USGS report and database that I have.
I intend to use the database to try and work out some possible prospective tonnage ranges based on what we know about Rupice, ie possible genetic model, age of formation and metal grades. All of these parameters are captured in the database.
In your post on the other thread you said you thought that Rupice looked like a Bimodal type of VMS deposit. According to the classifications below that would make it a Baimak-type or a Urals-type, not a Bessih-type as speculated in the independent geologists report. Can you add any more comments or thoughts about what led you to think Rupice is Bimodal? Cheers. Esh
ADT Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
