Exploring for Gold in the Rainy River and Red Lake districts of Northwestern Ontario

81m @ 5.08 g/t Gold, 28m @ 13.28 g/t Gold, 9m @ 12.88 g/t Gold, 46.6m @ 2.28 g/t Gold plus Bonanza grade Silver (up to 1760 g/t)

Free
Message: Caseys Comments after Oct 22nd Results

Looking at todays crash in share price, I went back and looked at Casey's International Speculator comments on Oct 22- at that time sp in the high nineties. They were somewhat negative but still optimistic.

"The 12 intercepts drilled along the northern portion of the Burns Block all hit -- that's the good news. The not-so-good news is that they were all low-grade hits, around a half a gram per tonne, or less, ranging from 20 to 70 meters in thickness. This is not actually bad news, as this mineralization could constitute ore in an open pit that covers the area anyway, but the intersections were not in the hundreds of meters which make such bulk-grades workable. And, clearly, the market was hoping for higher-grade hits, after all the excitement the previous high-grade hits generated. There might be more of those to come soon, as we have assays pending on that high-grade shoot. Longer term, the mineralization is still wide open to the east, so there's plenty of room for added joy. Even if that joy is not forthcoming, the value already discovered within RR's probable pit boundary still offers a lot of downside protection.

Does that make this a buying opportunity? Not yet, if you're long already. If you've been waiting for a correction in which to buy your first tranche, as per our October 1 recommendation, current prices are not a bad range in which to do so. But to bulk out, we'd see if gold continues correcting and offers us a shot at even lower prices."

Share
New Message
Please login to post a reply