surrealistrader
13 hours ago
Yes, that, but this particular lab (PTOE Labs, Chem Chek, Dr. Demenna) has also been cited before in prior work done for SDRC, such as the 2022 technical report under the heading of Liberty Refiners (viewable on company website.)
The main thing about this test was that it is not just an assay test but the result of this lab having also designed what looks like an incredibly involved chemical leaching process. It is one result, out of a presumed many tried, in order to separate out only the silver and gold while leaving the other noble metals untouched. Peculiar/ironic/confusing as it is, no other noble metals were tested for besides gold and silver as seen on this page, which would have been necessary to demonstrate the effectiveness of the separation....
Regular assay labs certainly don't do that kind of work, but to your point, yes, we need unbiased reputable sources of hard data in general, and not ones specifically chosen or referred to by the company for reasons that aren't anything but 100% clear to investors. There are many reputable labs between Idaho and New Jersey that could draw up a perfect assay chart and could test for virtually anything one could ask for. We are still waiting for assays that are sufficiently demonstrated to be representative of the raw ores, using an appropriate and unbiased sampling process, so as to come up with a reasonably narrow ballpark value of the stockpiles.
surrealistrader
15 hours ago
To this point about revenues from gold:
"love to know if they are able to separate gold and silver “at volume” right now. If so, it would be ridiculous to let an entire season pass without generating any cash from gold."
There was a Twitter release (yes Twitter's necessarily small bites of information are increasingly becoming the norm of company communications, regardless of relative materiality or relevance in general), showing a certificate of analysis done by a lab in New Jersey. It describes a specialized cyanide leach test designed to separate out gold from the complicated suite of metals we have learned of over the course of the past few months. I will link to it below.
https://x.com/SeanRaeZalewski/status/1833905627023716685
The test looked to be successful, though I do have some problems with it:
1. This is an assay report of an evidently successful, highly specialized leach test, but it is only 1 certificate, curated from a much larger data set. When a company is so selective with the information they release in this way, we have to assume that this particular test was the best, most successful test done out of the bunch. I'm sure many would prefer as little left to our imaginations as possible, and I don't mean filling in the gaps with emotional statements. Please do it with hard data. Sure, a brief summarized version of everything could be released up front, but also, always, make all the hard data available too so we can make up our own minds about what is relevant enough to keep or not. I am positive that the company doesn't have to over-complicate things while also not having to dumb things down and insult our intelligence in the process. I do realize most investors who see certificates of analysis don't know what they are looking at, but SDRC shouldn't concern themselves with them as much as the people who read these things all day, trying to find where to invest their or their clients money in this burgeoning bull market for junior gold stocks.
2. Highly processed grades do not in any way measure the grade of the original material, and can't be used to inform the lifetime or valuation of the operation. Acting as if they do is disingenuous. Instead of highlighting and exclaiming "ounces per ton" as if it is some bonanza grade ore, they should be clear about the sampling process, what batch, what mine, what pile, how many samples in the set, and any pre-treatment it has been subjected to. This is not the form in which the ore came out of the ground, nor the form it was found on the surface in the forest, so please don't pretend that it is.
3. This assay of a successful, but highly specialized, leach test of a highly processed concentrate does not fulfill the lingering promise of assays, confirming not only the original grades of the raw material, but, measuring in some verifiable way the crazy suite of minerals presented thusfar. We still need those things and are still waiting. Implying they are in the practice of releasing such data as it becomes available, as many higher-profile institution-friendly mining companies do, or are ongoingly compiling such in the form of public technical reports, is a mistake and will just send prospective investors down a rabbit hole looking for data that doesn't exist. It will surely frustrate the kind of people you want and need to appeal to in the investment community that are necessary to make your public company a success despite it's unfortunate circumstance of being starved for liquidity on USOTC. I'm reminded of that one assay certificate from 2022, but it wasn't released in 2022... It was released 6 months later in 2023, and it was said to be one of 4 pertaining to a batch of concentrates that was in the process of being sold to another company. Nothing since that besides XRF readouts have been released measuring original grades, and it is over a year later and there's still no sign of sales or offtake agreements. Has that perfectly prepared batch gone back to the drawing board because of PGM's?
4. It was released in response to a "Rumor that we are not a gold site." Unprofessional.
5. And finally, what can we derive about the economic feasibility, permitting, timeline, costs, etc of implementing a process like this on site from this document? Absolutely nothing. We still have no reason to believe this will result in gold sales any time soon, though the knowledge we can derive from it is certainly not bad.... its just that all we know is this is a highly specialized process, needing to be tested at a highly specialized far away lab, and it's 1 successful test out of many of unknown result... Is it reproducible, and if so, economical, efficient, or pragmatic to implement this season? Is it in line with the company's environmental goals? Does it require a permitting process before construction? Does it reflect the arbitrarily low $500 per gold equivalent ounce AISC (a highly regulated and specific mining-industry term) the marketers have been advertising?
Obviously gold and silver have the relatively highest level of diligence so far at this site, ....it has technically been a gold site for 150+ years.... so pursuing every possibility of extracting gold in order to deal with the rest later should be done exhaustively, but not at the expense of the business! Its PGM's, REE's, and the rest of the hashtag critical minerals XRF-lot that have close to zero history of diligence at this site, bringing the overall certainty of the resource down with them if necessary to pursue along with the gold... We have no idea what kind of investment it will require of money, time, man power, nor it's danger of obstruction to the rest of the company's operation during a time when virtually nothing is released indicating a viable deposit at all (besides whacked out XRF readouts). The company has grown their mineral claims footprint substantially in the mean time. It would be best to deal with this enormously daunting endeavor later and focus on the primary metals if possible, but the messages about where the company's focus is at this time remain mixed.
Wiscotrader
19 hours ago
These are excellent questions. As the year winds down it is becoming apparent here and elsewhere that patience is running out among even long term investors. I am in that group as well. I’ve been here for over five years, and until now have been ok with them building the foundation a piece at a time and waiting for it to come together. This was supposed the year, and since February the company line seems to be “more to come”. I can count the official press releases on one hand, and one of them was for creation of a non-profit entity. It is harder to take this company seriously the longer the elephant in the room is ignored (sales, offtake agreements, dividends, anything revenue related). Hardly a word about upper or lower tunnel progress throughout the entire season, no mention about a larger mill, no data on the processed material to substantiate the $53M estimate, and until recently no discussion about progress in the lab. I have no sophisticated knowledge about metallurgy but would love to know if they are able to separate gold and silver “at volume” right now. If so, it would be ridiculous to let an entire season pass without generating any cash from gold. They’ve barely made a dent in the stockpiles, and have plenty of time to continue to solve the PGM problem. I get the frustration. I think it would take exceptional naïveté, along with no history of getting burned by an investment to somehow be completely okay with the state of things. I’ll change my tune when the first significant revenue generating press release comes out.
surrealistrader
1 day ago
Video of Steve Dobson and Guy Saco on Linkedin:
https://www.linkedin.com/posts/wfmining_wfmining-mineralexploration-pgm-activity-7241871368907079682-wsu3
Guy Saco: "Unfortunately, no one directs(?) raw ore PGM metals. That's why we're taking and trying to extrapolate fine metal recovery to raw ore recovery. And it's been a rather tedious and frustrating process."
From what's being said, they are using small scale refining techniques to experiment and see if they can separate / precipitate out individual PGM metals from solutions derived from dissolving raw ores.
Excuse my harshness, but I fail to see where the "breakthrough" is, as stated in the video description. There's a reason why refining techniques like this aren't done for raw ores especially containing PGM metals. Its unscalable. Given the undefined scope of the PGM resource at this stage, it must be explored and declared large enough first to justify investment in a dedicated processing pipeline or facility. These guys are grasping at straws by feeling forced to do this at this stage before exploration is completed. At the very least, they need help. This is the kind of stuff people try in their garage often without success. While much easier for gold and silver, refining PGM's is a whole other ball game, and doing it from raw ores compounds the difficulty. Guy Saco couldn't even find a comparable to study. To offer a relatable example, Sreetips on Youtube, with his decades of experience in refining, couldn't even economically precipitate and refine PGM's confidently with his setup using techniques like this.
Where are the real deal solutions? Where are the proposals for long term feasibility for processing PGM's? Will the scope of the deposit justify the uphill battle posed to metallurgy?
The real question from me: Where is Mike Irish, B.S., M.S. Metallurgical Engineering, P.E. Environmental, Q.P., Chief Scientific Officer of Sidney Resources? Why are the geologists on site tasked with coming up with metallurgical extraction solutions, let alone updating investors on the nature of the problem, when we have someone as qualified as the company's CSO, an expert metallurgist, to speak on this subject instead? Why hasn't Mike Irish allowed himself to be quoted at all thusfar, let alone on this subject of processing PGM's?
surrealistrader
5 days ago
For information on the historical mines just secured by Sidney in the Warren Valley, including those said to have recently been tested to contain PGM's (Knott and New Era), read:
Reed, J. C., 1937, Geology And Ore Deposits Of The Warren Mining District, Idaho County, Idaho: Idaho Bureau Of Mines And Geology, Pamphlet 45
The pamphlet can be downloaded here: https://www.idahogeology.org/product/p-45
surrealistrader
1 week ago
This is very high on the scale of how complicated metallurgy can get given their scope. Companies get stuck for years on metallurgy, and almost always without any deadlines to profitability. They usually figure all this out before they can even attempt to figure out if a mine can be profitable and for how long. The multiple stages of feasibility studies take years after all the data is in... A company in their position would want to take their business model to the bank in order to construct a mine... Instead, these guys have jumped ahead and keep accepting cash privately to build and build and build and experiment, and who knows what else, without presenting these necessary scientific and economic studies to investors.
Instead of proving what they have, cost structures, and what they can reasonably sell for profit, they just expand.
"This is not a traditional mining stock" is the answer to every industry-comparability-informed question.
Investors need higher profile money to appeal to this project, but they never cease to hold in contempt the standards by which mining companies are judged by.
surrealistrader
1 week ago
Another mindfuck from Steve Cyros's XRF rig released!
This time it's from an unprocessed and concentrated piece of ore from a newly staked historical mine near their older claims.
Rhodium 867ppm, Palladium 574ppm, Silver 5721ppm, Cadmium 1620ppm, Tin 1162ppm, Antimony 1122ppm
Whoop, no assay chart again, but stay tuned for the rest of the developments coming this fall!
Alarming to me is this Cadmium at such high concentrations given Cyros is handling that alloy with his bare hands. The crushing of such cadmium-laden alloys would definitely create highly toxic fumes to humans... especially given that a mere 1-3ppm when measured in soil is said to be detrimental to plant life.
All this talk of cyanide leach tests, high concentrations of cadmium, antimony, makes me think that permitting will be a factor not to be underestimated after the enormously and increasingly daunting metallurgical issues are solved. The more they work, it seems, the more they lower the overall certainty of their operation's economics, and the more they introduce possible excuses to delay fulfilling their previous astronomical projections of profit into the future. As I have said repeatedly, they can "high grade" through 1-2 years of gold ore, now with the 1 curated certificate of analysis from Dr Demenna showing a necessitated a cyanide leach to liberate the gold, but all that would do would postpone lower grades to be converted later in the life of the operation. Does it stand to reason that these already mined higher grade ores will show up out of nowhere again and again and again?
I am curious to see how this "exploration" and proving out a "World Class Deposit" will result in mineral reserves on any metric accepted by the wider investment community. Upping the ante in this way is a marketing tactic for OTC stock enthusiasts, and maybe late stage gold bull market type people with no experience in this industry, and seems almost intentionally deterring to specialist investors serious about investing in this space.
Either they have done all the due diligence needed to determine that the scope of their new discovery is economical to mine and process for sale, (for those that are new to mining investment, no they haven't) or they are trying to protect the area around it so other companies or individuals don't come in and do their own due diligence, drill, sample or whatnot, outside of what they and only they have the authority to present.
surrealistrader
2 weeks ago
Hypothetically, would the impurities nobler than gold (PGM's) necessarily be found by anybody that has smelted in this locality before 2023?
....or is SDRC doing something fundamentally different?
PGM's were found at the smelting stage, and overlooked by exploration thusfar, including the drill core studies done in preparation of the report by Goldstone in the 1980s, and not to mention 150+ years of production mining, prospecting, drilling, and otherwise occupation of this area.... so what has been done differently now, that makes smelting so much more complicated? From all the documentation on gold mining in this region, has nobody documented impurities in the slag being impervious to the high temperatures subjected to it? Have its contents beyond the target primary metals never been investigated before?
surrealistrader
4 weeks ago
SDRC is a gold stock.
The company has demonstrated that they are on track to start selling a steady stream of gold and silver concentrates by the end of the year.
Everything else found present in these ores may or may not be a precariously stupid distraction. The PGM thesis, and the silence it supposedly necessitates, as management's "control play" secures their claim, is probably counter productive as hell. I am reminded of what we saw with turn-of-the-century early-1900's promotion of any given region's potential, often based merely on anecdotal evidence, in order to attract laborers and investors. They already have said that they think the PGM's are derived from a massive meteorite fragment, showing that they have discounted the possibility of hydrothermal and magmatic sources of PGM's in their rock. They have also released a picture of what they are calling a "PGM Vein." This is all terribly confusing. Where have meteorites ever produced a mineable PGM deposit outside of individual collectors pieces and specimens for study? What company on earth crushes meteorites for their PGM content in order to sell alongside a primary gold product?
It is my opinion that SDRC should NOT invest in equipment and a facility for processing PGM's until the resource is proven economically feasible to mine and process. They shouldn't even advertise PGM's as an economic boon until then. The scope must be established and a feasibility study must be conducted and shown to investors. Nevertheless, as earlier indicated, Sidney is jumping the gun again, consulting with a prospective 3rd party partner to process the PGM's present in their gold ores, and any additional "PGM Veins" found on their existing claims. I must say, this company has a nasty habit of moving forward in using investor capital to build out an operation without proper due diligence, and when it was borderline tolerable before, now the stakes are higher with a (vastly more complicated to economically prove, and relatively much easier to disprove) novel PGM occurrence. It was dangerous when it was just gold and silver, but now that they're moving forward on PGM's, we are in a totally different ball game: lower grades, a broader area needing to be mined, different environmental stuff, higher thermal resistances, higher melting points, different chemical resistances.... If the company moves forward with a PGM thesis, they're back to square 1, and they need to get back to discovery delineation and exploration!
Meanwhile, we have lots of restricted stock becoming unrestricted (which will probably continue and get more intense until the end of the year with a dividend informally announced) and the preemptive selling that always goes along with it. If market-markers net short have been willing to do so when locates are fake, they are guaranteed to waste no time in taking advantage of when locates are real. Sidney's team of volunteer market-makers should get ready to hold their line lest stock price fall below established support. Investors are going to need to take advantage of any and all buying opportunities if euphoric expectations have not already produced an overweight position. Hang in there for that dividend reinvestment squeeze! 🫠
surrealistrader
1 month ago
Strategic Advisory and Collaborations Advisory Expansion
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
Sidney Resources Corporation has strategically expanded its advisory team to strengthen its leadership as the company navigates through critical growth phases. The appointment of Andrew Prelea, a seasoned industry leader, marks a significant milestone in the company’s journey toward operational excellence and international expansion.
About Andrew Prelea: Andrew Prelea is the CEO of VAST Resources PLC, a London-listed mining and resource development company with operations in Romania and Zimbabwe. With over two decades of experience in the mining sector, Prelea is recognized for his expertise in identifying undervalued assets and transforming them into high-yield ventures. His strategic vision and global experience are expected to play a crucial role in Sidney Resources Corporation’s efforts to scale its operations and optimize its resource base.
Strategic Vision: As a strategic advisor, Prelea will provide insights into global market trends, identify new growth opportunities, and advise on best practices for project management and operational efficiency. His expertise in navigating complex regulatory environments and securing financing for large-scale projects will be invaluable as Sidney Resources expands its operations both domestically and internationally.
Impact on Sidney Resources Corporation: Under Prelea’s guidance, Sidney Resources aims to enhance its operational capabilities, streamline project timelines, and maximize the profitability of its mining ventures. His involvement is anticipated to accelerate the company’s transition from exploration to production, particularly in high-potential areas like the Warren District. Furthermore, his extensive network within the global mining community will facilitate new partnerships, investment opportunities, and technological collaborations, positioning Sidney Resources as a competitive player on the international stage.
gitreal
1 month ago
Commodity Type
A degree of skepticism should also be reserved for ores said to contain uncommon metals or minerals. Because of their rarity, these substances may command a very high price and are therefore extremely attractive to the investor. The platinum-group metals including platinum, palladium, rhodium, ruthenium, iridium, and osmium, are the darlings of the swindler. Considering their high unit-value, even minute amounts of these metals appear to be a reasonably good bet to the innocent investor.
8% iridium??? No ore, no meteorite, nothing natural found on Earth has this concentration of iridium.
Investors should be outraged at the shenanigans going on this year with #PGM, #REE, #iridium, etc. An obvious diversion from an inability to recover gold/silver. Poor, long-suffering, private placement note holders should probably resign themselves to kissing their investment goodbye when this kind of stuff rears its head.
https://azgs.arizona.edu/minerals/mining-scams#Commodity
gitreal
1 month ago
Oh boy, here we go.... unassayable ores!
That pesky iridium!Assaying
Once collected the samples must be properly prepared and assayed. In general, the final sample preparation and assay should be done by qualified laboratories. Assayers registered in Arizona are generally familiar with different types of ore and are knowledgeable about the proper method to test for particular metals or other components.
All ores are amenable to rigid testing and comments to the effect that the ore is unassayable are simple not true. Statements belittling the methods of registered assayers, complaining for example that they never report all the gold, are immediately suspect. Modern copying devices also make it a rather simple procedure to later falsify the assayer's report. If there is any question, of course, the sample pulps (unused prepared portion) may be sent to another lab for comparison.
Spectrographic analyses do not provide an accurate test of mineral samples. This type of analysis, though relatively inexpensive and useful in providing a list of components in a sample, does not yield a reliable, quantitative measure of tenor. Often a billion- or trillion-dollar "ore body" is created by simply multiplying the generalized amount of each of the metals listed in a spectrographic analysis by their current market price. An ore body, however, is not that simple. At this time, there is no commercially acceptable process known whereby each element can be recovered from a deposit.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://azgs.arizona.edu/minerals/mining-scams&ved=2ahUKEwjLq4vm1_yHAxU-EkQIHb7zOHkQFnoECAkQAQ&usg=AOvVaw3oOwJgrrnFEIbjL6YR02ww
surrealistrader
1 month ago
Evaluation of Geology for Meteorite Strike
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
"In an innovative geological study, Steve Dobson, Chief Geologist at Western Frontier Exploration and Mining Company, proposed that a meteoric impact might be the source of the rich ore deposits within the Warren District Project. If confirmed, this theory could significantly alter the geological understanding of the region and its mining potential.
Geological Evidence: Dobson’s research has identified a 30-plus square mile semi-circular depression within the Idaho Batholith, characterized by a layered stratified mafic igneous mass within an alkaline QMP Intrusive body. Geological evidence suggests that this structure may have resulted from a significant meteoric event during the Cretaceous/Tertiary period. The absence of Paleozoic strata, except for some remnants on the depression’s rim, further supports this impact hypothesis.
Impact on Precious Metal Deposits: The Warren District, known for its placer gold and silver deposits, has revealed new insights through ongoing operations and milling tests. These findings have uncovered the presence of platinum group metals within hydrothermal conduits, suggesting a unique chemical composition that could be linked to an extraterrestrial origin. The complex mixture of elements, including iron, gold, silver, iridium, and osmium, adds further weight to the hypothesis of a meteoric impact.
Outreach to Educational Institutions: Recognizing the potential significance of Dobson's hypothesis, Sidney Resources Corporation is proactively reaching out to highly qualified educational institutions to consider launching an extensive study of the Warren Mining District. The goal of this outreach is to engage top-tier universities and research institutions in a collaborative effort to conduct thorough geological and geophysical research. This study would aim to confirm the meteoric impact hypothesis and further explore the implications for mining and mineral recovery in the region.
Sidney Resources is particularly interested in partnering with institutions that specialize in planetary geology, impact cratering, and mineralogy. Such a partnership would not only validate Dobson’s findings but also provide valuable educational and research opportunities, contributing to the broader scientific understanding of meteorite impacts and their economic significance.
Comparative Analysis with Other Impact Sites: Dobson’s hypothesis draws parallels with other significant meteorite impact sites, such as the Beaverhead impact site on the Idaho-Montana border and the Sudbury Basin in Ontario, Canada. These sites exhibit similar geological disruptions and the presence of PGMs, further supporting the possibility that the Warren District could host one of the most valuable mining sites in the United States."
surrealistrader
1 month ago
Metallurgical Testing and Complex Ore Challenges
Quoted from SDRC's 2024 Q2 Report on OTCMarkets:
The metallurgical testing of ores from the Warren District continues to be a crucial aspect of optimizing recovery processes. The complexity of these ores, particularly due to the presence of iridium, osmium, and other PGMs, requires specialized testing techniques.
Challenges with Traditional Fire Assays: Traditional fire assay methods, commonly used to quantify precious metals, can prove ineffective or yield inaccurate results when dealing with complex ores containing iridium and osmium. These elements can cause issues such as low reporting or even invalidation of the assay due to their high melting points and chemical resistance. Sidney Resources has thus explored more advanced metallurgical testing techniques, including ICPMS (Inductively Coupled Plasma Mass Spectrometry) and XRF (X-ray Fluorescence), to achieve more accurate assessments of the ore’s metal content.
Specialized Techniques: Given the unique challenges posed by the Warren District’s ore, the company is employing specialized techniques such as selective leaching, advanced pyro-metallurgical methods, and customized fluxes in assays. These techniques are essential for accurately recovering and quantifying iridium, osmium, and other PGMs, ensuring that the valuable components of the ore are fully accounted for and efficiently extracted.
gitreal
2 months ago
Its a thing of pride for them to see this company moved forward with integrity.
Sorry, but I just don't see much "integrity". I see some promoters (Hally and SeanRae) with zero technical qualifications to be running a mining company spouting hype, bullshit, and really bad math.
If there is economically minable gold in their mining claims, they have yet to make the case. But they could still succeed if the gold is really there and they are willing spend a few dollars on some legitimate assessment work with credible third-party consultants. Not hyperbolic posts on X from SeanRae quoting Hally quoting some geologist who says "if the XRF data is correct....... Not posting dollar estimates of the value of the "precious metals" in the concentrates using bad math, and without some kind of believable data and assumptions to back up their estimates. If this were a SEC-reporting company....they'd get slapped down big-time for those kinds of screwy dollar estimates.
So yeah.....instead of proving they have gold, all that other garbage (PGMs, REE, meteorites) paints a very bad picture of this company. Very bad.
surrealistrader
2 months ago
Investors should not stand for this kind of hype. Unless they are okay with it and don't care about the dishonesty, in the hopes that it doesn't matter what bullshit is said as long as it results in a run that they can sell into. That might be what's going on.
I do believe you are describing most investors in general who will hope to take part in both the buying and selling of their investments. They would primarily, most exclusively, invest in people who will do what it takes to ensure their investment grows so that some day it can be sold at a higher value. This concept may be foreign to you because you're not an investor.
In the case of SDRC, we have witnessed time frames of investment ranging from a couple years to multiple decades. More often than one would assume from the tone of this conversation, we are witnessing investors in SDRC who will likely hold onto this stock with no plan to sell all of it, or any of it ever. They are even stacking their children's college funds and Roth IRA's with this stock. They do so purely because they believe in the trajectory and ethic of the company so much, and in how well it has treated them over these years.
Call these people what you want. They couldn't care two shits. They're too busy making money, and putting it where it counts. SDRC takes investors like these seriously and sees their investment as a stewardship. investors take SDRC seriously because they have demonstrated stellar drive, ethic, and knowhow to set goals and go after them efficiently, contentiously, with shareholder value as a prime motive.
More than a few of management are investors too. There are no preferred stock issued and nobody as undue control over the share structure. it is a pure corporation and a true group effort. Its a thing of pride for them to see this company moved forward with integrity.
News
Market Data
Customized watchlists with full streaming quotes from leading exchanges, such as NASDAQ, NYSE, AMEX, OTC Markets Small-Cap, LSE and more.
Ask ADVFN Intelligence (AI)
