Had a phone update....
posted on
May 17, 2010 03:43PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Hey folks, what a crappy day on the markets.
I just got off the phone with Sasha looking for some positive news. I think I found some.
Drilling is going stunningly fast. Phase 1A is complete. I will assume this is referring to the first run of drilling which I witnessed on the site visit. Results may be mid-June but I have learned not to put faith into turnaround times for assays. There is usually a hitch along the way, the least of which are the assay results. Getting a NR written with those results is not something that takes an hour or so....
If I do my math and just for visual sake I think we are looking at 7.5 metres an hour...24/7. I'm no miner but I'm quite sure this is ridonculous. This is Phase 1B and is still focused on proving out the better known areas and those that are viewable on the Geochem map. They have not yet made their way to the big red glaring zone at Ascot.
However, they are following the geochem map and are hitting the quartz they are looking for 100% of the time. The Ascot is looking to be thicker than they originally thought. They have discovered an entire other zone they call the Road Zone, which the guests on the site visit know to be quite wide (>45m?) and may even possibly be connected as one larger zone.
Remember that the geochem only goes 200m deep, and as I like to call it...these loch ness monster veins of quartz dip up and down and are only visible as they come up towards the surface. If these zones were connected it wouldn't look like it on the geochem, and in fact, it would probably look like it does on the geochem so it is a real possibility. I'm not going to speculate on what this will do for increased tonnage.
Tilsley, Paul and Frank and Sasha were there last week. I suppose the information within that statement is that they probably don't all spend time there unless they feel it is warranted - in particular Tilsley and he was there all last week.
If I wanted to be pumpy, I'd say that there sounds like there is incredible stuff happening. Nobody is saying that there is gold in this quartz but the fact that there is this much being hit in an immensely positive sign.
I must say that after the last few weeks on the markets, the SP dropping, it is tough to sound too optimistic as some obviously feel the need to sell. Do they know something I don't?
I haven't sold a share since the site visit, and doubt I will but that's just me.
Sasha said that himself and Frank are very well aware that they have much work to do in order to tell the story and build awareness. Of course, I'm sure the drills will have the loudest voice in the end. I'm looking forward to hearing what they have to say over the next few months.
B
Ps. Forgot, they have 2 guys cutting core every day and sending it out to Actlabs. Paul Nicholls is there recording it all.
Pss. Frank and Sasha will be attending the Cambridge Conf in Vancouver in June. I suggest anyone introduce themselves if they are available.