Wednesday, October 31, 2012

3oz/t Gold? Story in the Works

Am I reading this right?

Next month I'm going to compile a story on a company that has good prospects. (up to 40g/t). They are waiting for some re-assayed results and confirmation. The double check is required. I think there must be a mistake but if not this will be one hell of a ride. Not many companies find 3 oz per ton anymore in what looks to be a large system. The company is under 5 cents and is struggling. Insiders and workers are keeping it afloat. They seem to be able to raise money privately. About 60% of the shares are in certificate so they can't be traded but that still leaves 70 million shares in the float.

Why I'm waiting. The preliminary analysis suggested 40+g/t and they said "meh itsa good". We are talking the edges of a stock works or epithermal system So this isn't economical yet. Get some depth, closely cluster veinlets or a thick stock and we'll talk.

Now this is where this go wrong. The sample that returned the results was a known control sample or at least the thought it was. Same lab, different result. So obviously this has to be looked into. No, this was not a BGM. This was a lab result. Could it have been a nugget effect? If so, they are barking up the right tree. There is a lot of course gold down stream and no one has ever located the head. This is why I'm waiting for the analysis to come back before I dip my toes. I figure that if true then in under 2 years we'd be talking a major spin off.

Stay tuned. We'll be able to get in on the ground floor long before the market smells blood.

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