Investors have stepped up to the plate in the past two weeks after seeing the Springpole assays. A summer drill program is striking fairly consistent grades of gold and silver in breccias-hosted pods and veins. Still, Gold Canyon stock is now at three times its $50 million market capitalization of August.

To believe the momentum continues is to believe further assays due in December will show lengthy intercepts of significant gold grades at this alkaline intrusion deposit. If you are doing the math, Springpole might hold as much as eight million ounces of gold. Thus, even with a lowly peg of $100-per-ounce in the ground, Barrick Gold (TSX: T.ABX, Stock Forum) or another large miner would need to spend about $800 million on a purchase. On a fully-diluted basis, the $2 stock one day could be worth $7 or more. Gold Canyon has other projects as well.