Back after a long rest...
Yup, found something. Another back yarder with some serious potential. It's currently worth $15 million or so and trades light. It behaves like a low share count should. The two year chart beats like a heart. It doesn't have skeletons in the closet and has a clean 80% option on the properties. The team leading it is highly proven...you'd know them if I mentioned them.
The rocks have a long history but next to nothing done with it. Over the next week I will study the NI and possibly plan a field trip by air. Given the location the terrain becomes a factor in the pit design.
But...
"narrow veinlets in relatively fresh diorite ... 11% Cu and 5.7 g/t Au"...
Now this could get exciting. It is about a 300 by 300 meter area of high interest. It is note worthy that it is situated in exactly the same type of rock as Red Chris. The supporting info reads like the Red Chris discovery. The surrounding areas where work has been done lead me to think there's a structure being revealed. Given what I know about their boss, he doesn't just go out there and try to get lucky.
There are holes extending less than 250 meters. Most of the work was by hand. There are maps of course. One area in particular was not amiable to an IP. They have core photos and two of those look almost identical to RC.
So, I will look at road costs, pit sizes, underground potential etc. The main zone with some drilling is on a pretty big slope. Another spot that could become explosive is under a rapidly receding glacier. The glacier is thin. I suspect they will be trenching right up to it this year. I also expect a 600m hole this year in a specific spot. Last year's 600m hole was encouraging and shows careful consideration to its placement. It was rewarded with a respectable result.
There are two other companies drilling like mad on adjacent properties. One just doubled its share price and I predict it will continue. I think these three amigos might out perform the market this year in a big way. The one I am really interested in has a 5 year investment timeline but will behave just like their last stock.
Stay tuned.
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