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jaguar2001

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  1. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    Thanks and there is a lot more to come here. Understand that people are still buying at these levels.
  2. from tooclassy: I think the main thing with this company Gold Summit is the geological expertise of the man running it. Gold Summit president Anthony Taylor is credited with the exploration and development of the deposit which became the Ridgeway Mine in South Carolina (now closed). http://www.riotinto.com/SustainableReview/...fs/Ridgeway.pdf In addition to his duties running Gold Summit, Taylor is a director of Hecla Mining Company. In talking with people in the resource sector I have concluded that as a geologist Taylor ranks in the creme de la creme of his industry. (Your mileage may vary). I need to study further on Gold Summit's new projects. I am most familiar with its Monte Cristo project in Nevada. I have studied it at length and concluded that it was and is one of the most speculative gold exploration properties out there and deserved its reputation as a Comstock Lode lookalike exploration situation. Not at all known as a promoter-type, I didn't need to heavily discount every word from Taylor but received from him the straight scoop about Monte Cristo (what Taylor knows, what he thinks he knows, what he is trying to know, and what he doesn't know). Funding Monte Cristo exploration is entirely another matter. The good news is that Gold Summit is using OPM (other people's money) and has a JV partner putting up all the money for exploration to gain a percentage. The bad news is that the JV partner is not going to spend more money until next spring or summer so there is little chance of instant gratification here. Furthermore, there is no getting around it that exploration companies are not the flavor of the month right now with the credit market convulsions out there limiting the funding of such companies. Nevertheless, Taylor has continued forth, assembling new projects and funding for them. The lithium property is a situation providing revenue so that the company doesn't have to dilute itself to keep operating. They say you make money buying stock when nobody wants 'em....I look forward to the exploration companies like Gold Summit coming back in vogue. At that point, stocks like this will reveal the tremendous leverage that they have, especially from these insanely oversold levels.
  3. http://www.goldsummitcorp.com/_resources/p.../2008_09_29.pdf GSM still trying their best to create shareholder value: *”Gold Summit Corporation (TSX-V GSM) has staked a block of 136 lode mineral claims covering an exposed precious metal bearing, quartz breccia in Esmeralda County, Nevada. Surface samples of stockwork quartz veining assayed between and 0.02 and 12 g/t silver” *”GSM is also conducting a lithium exploration programme in Esmeralda County on behalf of Black pearl Minerals” (Although Black Pearl gets to keep any Lithium found by GSM, GSM do get paid for looking and finding. And GSM gets to keep share in everything else. There may be Potash in them hills) *”In western Ontario, Gold Summit is also exploring a nickel-copper prospect in mafic rocks near Dryden where diamond drilling is planned in mid October” (Understand that the geology is similar to the Noront Discovery which became the Ring of Fire in the James Bay Lowlands. Of course on that back of that NOT was the best performer on the TSX-V, last year – rising from around 50 cents to over $6 in a few months.) G O L D S U M M I T C O R P O R A T I O N PRESS RELEASE FOR IMMEDIATE RELEASE TSX-V Symbol “GSM” September 29, 2008 Reno, Nevada GOLD SUMMIT STAKES SILVER BRECCIA-PORPHYRY TARGET IN NEVADA Gold Summit Corporation (TSX-V GSM) has staked a block of 136 lode mineral claims covering an exposed precious metal bearing, quartz breccia in Esmeralda County, Nevada. Surface samples of stockwork quartz veining assayed between and 0.02 and 12 g/t silver. The area is underlain by a regionally prominent, circular, coincident gravity and magneticanomaly, a distinctive pattern that underlies the subsurface signature of many of the large gold and copper metal producing districts in northern Nevada. The circular magnetic feature is interpreted as a buried intrusive with which a number of copper prospects that occur to the north may be related. The breccia corresponds to a strong resistivity anomaly discovered by Great Basin Exploration and Mining Company in 1990 who drilled a number of shallow reverse circulation holes to test for large open-pit gold mineralization. The open spaced nature of the quartz at surface indicates that deeper drilling is warranted for higher grade mineralization that may include gold and copper as well as silver. Gold Summit explores mostly in the United States for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM’s primary properties, totalling 42 km2, cover four Tertiary epithermal vein districts in Nevada. All these have drill ready targets defined by surface work, most with bonanza grades inoutcrops or discovery drill holes. GSM is also conducting a lithium exploration programme in Esmeralda County on behalf of Black pearl Minerals. In western Ontario, Gold Summit is also exploring a nickel-copper prospect in mafic rocks near Dryden where diamond drilling is planned in mid October.
  4. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    And this is more detailed earlier interview regarding Clifton Star http://www.kereport.com/DailyRadio/Daily081208.mp3 Tuesday, 08.12.08 Al talks with Fred Archibald, Vice President of Exploration for Clifton Star Resources.
  5. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    Korelin Economics Report interview Saturday, 08.16.08 Segment 1 - Al talks with Fred Archibald, VP and Director of Clifton Star Resources, about the history and potential of gold production in Quebec. http://www.kereport.com/audio/0816-01.mp3
  6. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    Article about mining in the province of Quebec http://www.kitco.com/ind/korelin/aug192008.html A Visit to Quebec - Serious Mining Country By Al Korelin Aug 19 2008 10:16AM www.kereport.com The video crew of the Korelin Economics Report, namely Sarah, Kathy and yours truly recently spent a little under two weeks in Quebec, Canada where we divided our time between the towns of Duparquet, Malarctic, Val d’Or and Rouyn Noranda visiting mining properties. We were hosted by the folks from Clifton Star Resources and Niogold Mining, but we also visited other properties including portions of those held by Osisko. At the beginning At the beginning of our visit, we were joined by Louis James of Casey Research and Laura Stein, the belle of the mining investment community. Later we met up with Greg McCoach of The Mining Speculator, Bob Moriarty of 321 Gold, analyst David Smith, Marshall Berol of the Encompass Fund and Dan Pisenti of Whitehall Parker Securities. For the Korelins it was a valuable educational experience. Our hosts Harry Miller and Fred Archibald of Clifton Star Resources and Mike Iverson and Rock LeFrancois of Niogold gave us an extensive tour of this prolific mining area, opening our eyes to a region that, in my mind, many resource investors are overlooking. The countryside is some of the most beautiful that I have seen anywhere in the world. Gorgeous lakes, known for exciting walleye fishing, were everywhere. Beautiful green forests were abundant. And, yes there were some challenging and scenic golf courses. Even the little mining town of Duparquet, population about 1500, had a course with a welcoming clubhouse where Kathy, Sarah, Fred and I had a great lunch. Whether it was in a fixed winged aircraft, in a helicopter, riding in corporate vehicles or tramping through the bush to visit drill rigs or mine sites, we got an excellent perspective of the area. Lately, a lot of attention has been drawn to mining companies located in South America, Mexico and China. These areas, to be sure, are home to some serious projects, many of which could return profits to their shareholders. I certainly would not want any of my readers or listeners to The Korelin Economics Report radio program to discount the potential offered in these parts of the world, but I do need to point out that Quebec too has a lot to offer. First of all, the provincial government strongly supports the miners both in terms of putting sensible regulations in place and providing monetary support that includes rebates from the government for qualified mining work. The miners live up to their responsibilities by utilizing environmentally sound practices and supporting the communities where they are located. As an example, a portion of the town of Malarctic is being moved, lock stock and barrel, to a location away from an important resource deposit controlled by Osisko. This company is not randomly moving buildings, but they are keeping neighborhoods together and completely updating each building and home after it is transported to the new location. Needless to say, this is a win-win situation for both the town’s residents and the mining company. Far and away the majority of the people living in this region benefit from the mining industry whether it is through direct employment or the sale of goods and services. I learned this not only on the property visits, but in restaurants and, believe it or not, on the golf course in Val d’Dor where I met a number of both currently active and retired people many of whom were third or fourth generation miners. I bring this up as a comment to those folks who subscribe to the theory that the mining industry has no regard for environmental issues and I would suggest that anyone who feels that way visit Quebec and see first hand just how environmentally conscious these miners are. Called the “Golden Highway”, the country that we saw from Duparquet to Val d’Or was impressive. Millions of ounces of gold have been mined in the past and the results of current testing indicate that many more will be mined there in the future. It’s hard to fail when companies have a qualified work force, a supportive government, existing infrastructure and a large amount of mineralization yet to be discovered. As you can tell, I was impressed. We recorded a lot of radio while we were there and if you did not hear it on your local station simply go to our website, www.kereport.com where all the recent shows are archived and take a listen. A.B. Korelin
  7. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    CFO closed last night at $3.70 having hit overall high of $3.90. I believe there is more to come... DYOR :-)
  8. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    Ormetal - "You can do the math as well. Clifton’s stock prices can go a lot higher. Assuming that Clifton delineates 3 million ounces of gold, we get a possible market value of between US$300 million using $100 per ounce and US$750 million using $250 per once. Assuming also that Clifton issues another 10 million shares in addition to the options and warrants and reaches a still very reasonable 36 million shares fully diluted, we get a price target of anywhere between C$8.33 and C$20.83 Folks, this is not a forecast or a prediction. This is simply an exercise based on some facts (recent takeovers) and some potential exploration successes. Nobody would bet the house on this. Clifton may find more ounces and may issue less shares. Time will tell. Our opinion is that it sure looks like an excellent speculation for a junior gold investor."
  9. jaguar2001

    Clifton Star Resources - GOLD - TSX.V: CFO

    Ormetal - "It is very hard to find a company whose stock price has not collapsed with the kind of market environment we have had during the last 4 weeks. There is at least one: Clifton Star. When we first mentioned Clifton to you at the end of June, the stock had closed the previous week at C$2.85. It closed this past week at C$2.75, which is not bad given that seniors and mid-tier gold stock are still down 30-40% from that date. There is a good reason which explains this contrary behaviour– some market participants, including other newsletter writers, are starting to recognize the hidden value in Clifton and buying."
  10. Clifton Star Resources http://www.cliftonstarresources.com/ TSX.V: CFO http://www.tsx.com/HttpController?GetPage=...ViewPage&... http://www.cliftonstarresources.com/mediaAnalysis.html The Ormetal Report Recommends Clifton Star Resources The Ormetal Report Recommends Clifton Star Resources in a newsletter distributed to their readers on August 17, 2008. “We are adding Clifton Star to our list of favourite stocks and we are buying the stock at current prices even in this market environment.” http://www.cliftonstarresources.com/docs/Ormetal268-CFO.pdf
  11. http://www.goldsummitcorp.com/_resources/nr_2008_06_25.pdf G O L D S U M M I T C O R P O R A T I O N PRESS RELEASE FOR IMMEDIATE RELEASE TSX-V Symbol “GSM” June 25, 2008 Shares Outstanding 56,526,241 Reno, Nevada GOLD SUMMIT VENDS LITHIUM BRINE PROJECT TO BLACK PEARL FOR CASH AND EQUITY Gold Summit Corporation (TSX-V GSM) has agreed to sell a 100% interest in a lithium brine prospect to Black Pearl Minerals Consolidated Inc (TSX-V BLK) for a total consideration of $300,000 in cash and 3 million BLK common shares as well as certain acquisition costs. The prospect, located in Esmeralda County, Nevada, covers an area of about 31 square kilometres and was recently staked by GSM. The agreement is subject to approval by the TSX Venture Exchange. As part of the same agreement, GSM and BLK have entered into a regional alliance in the Great Basin Province of the western United States to explore for other lithium brine deposits which can also contain significant quantities of potassium. For every additional project acquired BLK will pay GSM $100,000 in cash and issue 1 million common shares as well as exploration costs. Commenting on the sale of the prospect and the involvement in lithium exploration, Dr A. P. Taylor, President and CEO of Gold Summit said: ''originated as a geological idea that we were unwilling to pursue ourselves, we turned it to account for cash and a significant equity stake in a dedicated lithium company" Gold Summit explores principally in the United States for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM’s primary properties, totalling 42 km2, cover four Tertiary epithermal vein districts in Nevada. All these have drill ready targets defined by surface work, most with bonanza grades in outcrops or discovery drill holes.
  12. From over the pond: "The news announced today dramatically should change the way investors perceive GSM. Here's the bottom line: GSM now offers the upside of an explorer, without the commensurate risk. We now have two areas of mineralized, economic ore: 70,000 ozs of gold resource at 6.5g/t gold, around which we had a hole hit an area fifty metres away with 5.7g/t, AND a high-grade, shallow vein with nice intersections of gold grades and intervals, hit in TWO places. Within each of those two intersections, are high segments of 40g/t gold! My goodness, what more do investors need to buy this stock? Both the 70,000 43-101 resource area will likely grow now, as well as the shallower high-grade vein. Even fully diluted (81.2M shs), the market cap of GSM is a silly US$6.8M. Unreal... I say again: the bottom line is that this stock now has more certain upside at these levels, absent the usual risk. I will be buying more again tomorrow if the stock is anywhere near these prices. GLTA GSM longs!"
  13. http://www.cdnx.com//data/lcdb/DOCP/JUN2008/18K%40S01%21.DOC Gold Summit Reports 3.5 Metres of 12.1 G/T Gold in New Shallow Zone at Monte Cristo Reno, NV June 18, 2008 FSC / Press Release Gold Summit Reports 3.5 Metres of 12.1 G/T Gold in New Shallow Zone at Monte Cristo Reno, Nevada US, June 18, 2008 /FSC/ - Gold Summit Corporation (TSX - VX: GSM), ("GSM") announces receipt of complete assay data from the last three of a seven hole core drilling program on the Monte Cristo Property in west central Nevada, located approximately 50 km west north west of Tonopah. International Bethlehem Mining Corp. ("International Bethlehem") (TSX-V: IBC) has an option to acquire up to a 50% interest in GSM's Monte Cristo Property by incurring exploration expenditures of $3 million over four years. Minimum expenditure of $600,000 for 2008 has been met. The following table shows significant intersections assaying greater than one gram per tonne gold in the three drill holes: The core drill holes were planned to fill in large gaps within the existing drill pattern and all three intersected the target McLean Lode. Future plans include more systematic core drilling of the McLean Lode in an effort to increase and upgrade the present 43-101 compliant inferred resource of 331,000 tonnes averaging 6.5 g/t gold to indicated and measured status. Significantly, drill hole MCC-63 intersected the Lode 50 metres to the north of the resource area, thereby demonstrating a potential increase in its size. Drill hole MCC-64 did not intersect significant mineralization and is outside the resource area. The shallow high grade intersection in drill hole MCC-65 is evidence of an upper mineralized horizon in the system with epithermal characteristics similar to the Main Lode. Sampling of GSM's previous core drill holes within this upper zone has not been completed to date. However, assay records from historical reverse circulation holes drilled by Cyprus Copper in 1989 show a similar higher grade interval. Cyprus Hole GP-72, drilled 50 metre east of hole MCC-65, intersected an interval of 7.6 metres assaying 16.9 g/t gold, including a 1.5 metre interval assaying 39.4 g/t gold. GSM is presently examining 22 core previous drill holes in the area to document and sample the upper horizon. It has potential to provide another continuous high grade zone and could significantly increase the size of the McLean Lode. The new assays are from half cut HQ core at the Sparks Laboratories of American Assay using standard Fire/AA or gravimetric methods with checks provided by insertion of blank and standard samples. Quoted assays for Cyprus Hole GP-72 were from standard 1.3 metre RC splits assayed in Chemex Laboratories in Sparks using the Fire/gravimetric method with inserted standards.
  14. From post over at Stockhouse from tooclassy: My review of the Gold Summit drilling program and a conversation with Tony Taylor No news from Gold Summit Resources (Toronto Venture: GSM)is not bad news. This is the exploration business, it is a long process and it takes time. Furthermore, the investment climate for resource sector stocks has been very negative recently, and negative generally ever since the subprime crisis-driven stock market meltdown of August, 2007. Further negative since the meltdown in the price of Novagold. Negative - meaning "lower stock prices". Only a small percentage of resource stocks have been moving up in this environment. That said, GSM is not sitting on its hands and doing nothing. Ongoing drilling at flagship Monte Cristo property in Nevada, USA GSM is finishing the last of its drilling work, the final drillhole. When it gets the assay data from the last two holes it will analyze all drill results and put out news on what it all means. No, I don't know how successful is the current program. GSM president Tony Taylor was completely tight-lipped about it, and I am sure the market will not know anything until there is a news release. New 43-101 compliant resource estimate to follow the drill program Taylor said that a 43-101 compliant updated resource estimate will likely be produced after a near term follow-up drill program (if there is one) is completed, or after both programs if possible. I reviewed a 3D representation of the area of mineralized anomolies below the Maclean pit where a 43-101 resource calculation was previously produced and where more drilling is being done now. Clearly there are further mineralized areas extremely prospective for gold intercepts. Furthermore, the areas between previously drilled intercepts of ore grade material are even more likely to include ore grade intercepts as well, as probable as one can get in this business. Here, the so-called infill drilling will improve the confidence level in past and current drill results and it's obvious to me that the originally reported and very conservative 43-101 compliant resource estimate of about 70,000 ounces of gold in the inferred category will be substantially upgraded in number of ounces and where possible to a higher confidence category. This is a given. GSM will find more gold where it has already found gold, and secondarily in other untested areas in close proximity which are known to have mineralization with a similar geological signature. More gold intercepts, plus higher confidence level drilling (holes spaced closer together than before), plus perhaps a lower cutoff grade, could easily lift the reported resource to perhaps 125,000 ounces or more should such a 43-101 report be announced. An expanded near-term followup drilling program could lift this to 200,000 or even 250,000 ounces depending on the number of holes done. These are my "guesstimates", and any future surprise "bonanza" grade drill holes would of course build up all these gold ounce numbers further and faster. With nice metal grades and a rising resource base, one can start to envision a small, profitable mine in the making here. All from merely one area among many within the Monte Cristo area. If GSM were to focus only on the area below the Maclean pit it would reduce the risks of exploration in the short term and provide momentum for the company which could later be capitalized on for exploring the other highly prospective targets of Monte Cristo. Meanwhile, the substantially higher numbers in an updated resource calculation should be positive for the stock price. Silver ounces to get some respect at Monte Cristo We will get some millions of ounces of silver out of any analysis of current and future drilling. Historical data for silver underneath and near the Maclean pit was poor or non-existent, so there is some past handicap here in determining what we have had, but this will become clearer in the near future. There have been some very high silver grades and intercepts over mineable widths in prior drilling work by the company.The silver is important because it can increase the rock value by up to 50% of the gold value. This can considerably improve the economics of a future mine. Putting the current drill program in perspective I reviewed the area of mineralized anomolies below the Maclean pit where a 43-101 resource calculation was previously produced. Clearly there are further mineralized areas extremely prospective for gold intercepts. The current program will be expanded and followed up more aggressively as decided by the JV partners based on the drilling results obtained. The drilling work done here is only in one area among many (a dozen or two) within the Monte Cristo land area. Drilling results from below the Maclean pit will by no means tell us how successful will be the drill programs in each of the other most prospective areas of the Monte Cristo land package. The other areas have a similar or essentially identical geological signature. Based on that it is my opinion that if and when there is substantial (extensive) drilling of the other areas and if those areas obtain results similar to those obtained below the Maclean pit, it is likely to ramp up the gold and silver numbers into the millions of ounces eventually. Of course, whether the JV partners will drill the other areas depends on how successful are the earlier drilling programs such as the current one, and financial constraints. GSM needs substantial results to build up the necessary momentum to justify the drilling of the other areas. I am patiently waiting for GSM to announce its drilling results in a few weeks or so, and for clarification about the scope of the drill program to follow. I am also looking forward to the resource calculation updates. Realistically that is what is likely to drive up the stock price as an increasingly large metal resource leads to a higher probability of a positive production decision. tooclassy
  15. "Tony Taylor now expects to be releasing a series of drill results from both Nevada and the Carolinas and he confidently expects that these will attract the attention of investors" http://www.minesite.com/nc/minews/singlene...arolinas/1.html April 17, 2008 Gold Summit Aims For A Right And A Left In Nevada And The Carolinas By Charles Wyatt Investors seeking a gold explorer focussed on the USA and therefore totally geared to the US dollar in terms of costs and revenue, provided it gets that far, need look no further than Canadian-listed Gold Summit. Its projects are focussed on Nevada and the Carolinas, both of which are highly prospective for gold. Everyone has heard of the Carlin Trend and the Comstock Lode in Nevada, but there tends to be a bit of scratching of heads when the Carolinas are mentioned. In fact the Carolina Slate Belts are where gold was first discovered in the US - there was a gold rush there in the early 1800s. Gold Summit’s chief executive Tony Taylor, who runs the company out of an office in Reno, knows a lot about the highly metamorphosed geology there, as he was involved in the team from Selection Trust/BP Minerals which discovered and developed the Ridgeway Mine in South Carolina. That mine ended up producing around 1.6 million ounces of gold from an open pit between 1988 and 1999. Even over a telephone line one can imagine the wry smile on his face as he describes the change in management philosophy that took place when Selection Trust was taken over by BP Minerals in the early stages of the operation. “We had just carried out a pre-feasibility study which came up with an internal rate of return of 80 per cent on the prevailing gold price, which would be good enough for most people. The oilmen, however, wanted to limit risk so they sold a 50 per cent interest to Robert Friedland for US$5 million. He also had to fund the definitive feasibility study and this probably cost him another US$8.5 million. Anyway RTZ, in the shape of Kennecott, took over BP Minerals after the mine was well into production - in fact it was in the latter stages of its life – and paid him US$17 million for his share of the mine. Add that to the money he had already made from production and he was bankrolled for Voiseys Bay. In fact you could probably say that the Ridgeway mine was the real start of Friedland’s career.” Fast forward to 2008 and the present state of play is that Gold Summit has sizeable property holdings in both North and South Carolina in areas where the management knows of a number of untested high grade gold occurrences. A group of very experienced consultants with past ties to Gold Summit’s management at Ridgeway has helped to acquire leases and carry out exploration. What they are looking for are high grade gold-silver deposits that could eventually be mined by underground methods. Clearly a lot was learned from Ridgeway, as underground mining leaves a much smaller footprint than open pit in these days of environmental scrutiny and need not be more expensive. To maximize chances of exploration success, acquisition of whole districts with multiple targets is preferred. Within those districts, high quality geological mapping, rock and soil sampling as well as evaluation of work by previous explorers defines drilling targets. There’s always been pressure on the funds available to Tony Taylor for exploration, so a number of joint ventures have been negotiated. The deal with Astral Mining is a case in point. Astral can acquire a 51 per cent interest in the Saluda Area of South Carolina or the Bear Creek Area in North Carolina after spending US$300,000 on exploration. This holding can be topped up to 70 per cent in a designated prospect by completing a feasibility study, and to 80 per cent if Astral brings a mine into production. The partners started drilling on the Saluda prospect earlier this year following some fascinating high grade intercepts last summer. In North Carolina they are testing a Ridgeway-style target developed from soil and rock chip sampling on altered volcanic rocks. So far three holes have been drilled at Bear Creek and the rig has now moved south and is getting a similar programme underway at Saluda. No assays are yet available, but examination of core has been encouraging. Meanwhile, in Nevada, Tony Taylor claims Monte as the company’s most advanced project. From an exploration point of view it is, as a small resource has already been defined, but he clearly retains a very soft spot for the Carolina Slate Belt. His company, however, can rely on plenty of experience in Nevada, as Larry Kornze and Ruth Callaher, both directors, were involved with Barrick in the Goldstrike area, where Larry was responsible for the discovery of several deposits. Gold Summit’s properties in Nevada cover four tertiary epithermal vein districts, three of which lie in the prolific Walker Lane. All these have drill ready targets defined by surface work, most with bonanza grades in outcrops or discovery drill holes. The San Franciso project has recently been joint-ventured with New Dimension, owner of the adjoining Reese River project, where it has had considerable exploration success and generated an attractive target that extends onto the San Franciso claim. Back with Monte Cristo, earlier this year Gold Summit also agreed a joint venture with New Bethlehem Mining, under the terms of which New Bethlehem will earn a 50 per cent interest in Monte Cristo by spending US$3 million on exploration. A programme of drilling, extension of soil and biogeochemical grids, and mapping and rock sampling of some newly defined targets for 2008 has already commenced, with core drilling now underway north of the McLean Lode. The target there is a coincident biogeochemical and resistivity anomaly that may turn out to be a significant extension of the McLean resource, already estimated at 331,000 tonnes averaging 6.5 grammes per tonne gold. Tony Taylor now expects to be releasing a series of drill results from both Nevada and the Carolinas and he confidently expects that these will attract the attention of investors. He goes as far as to suggest that his company may have found a new Comstock Lode. Since the Comstock Lode was the first major US deposit of silver and gold, discovered in 1859 under what is now Virginia City, he’s not exactly pitching expectations low. Certainly the McLean Lode is the same sort of size and shape as several of the original Comstock Lodes and the geology has striking similarities, but Dr Drill will have the final say.
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