Jump to content
Sign in to follow this  
drbubb

Journey Resources (JNY.v) : R.I. recommendation

Recommended Posts

Journey Resources (JNY.v) : Low mkt. cap, underpinned by 314k oz. Gold resource

=====

 

Download Article Recommended: January 1, 2007 (Price then: $0.36 / Today's Price: $0.38)

Weekly chart ... update

bigqv9.gif

 

"When we started coverage, Journey had a market cap of only $9,000,000, and was trading at $0.36, which translates into a lot of upside potential. As well, at the rate Journey is progressing, the company could announce a feasibility study on the Empire Mine sometime this year, which indicates more upside still, based on the existing 43-101 data."

 

according to a Stockouse poster (kron139 -feb.07):

"Journey owns 1,100,000 shares of Wits Basin: 1,100,000 X .$52USD= $572,000USD x 1.18 = $674,960 CAD"

-

 

David Hadfield has a great track record with his recommendations. see: Link

:: "Our present ROI is 119.10%. An investor who invested $1000 in each of our write-ups would have netted $23,820.00 on top of their original investment!"

 

- -

Journey Resources Corp. is arranging a 2007 drill program on its Musgrove Creek gold project in Salmon, Idaho.

 

Journey is currently earning a 100-per-cent interest in and to certain mineral claims comprising the Musgrove Creek property. The Musgrove Creek property consists of 86 contiguous, unpatented mining claims located in the cobalt mining district of Lemhi county, approximately 25 miles from Salmon, Idaho, and covers approximately 1,700 acres of gentle to steep terrain that is accessible by roads.

 

The Musgrove Creek gold project is underlain by quartzite, siltitess and phyllites of the Precambrian-age Apple Creek formation, situated along the Trans-Challis fault system, a prominent northeast-trending fault zone, which is host to numerous gold deposits.

 

The Musgrove deposit has been intersected over a strike length of 400 metres, a width of 110 metres and to a depth of 150 metres. The National Instrument 43-101 inferred mineral resource estimate at the Johnny's Point section of the Musgrove deposit is eight million tonnes at 1.22 grams per tonne gold (0.036 ounce per ton) at a gold cut-off of 0.8 gram per tonne (0.023 ounce per ton).

 

This is equivalent to 9,761 kilograms (313,822 ounces) of gold at nil dilution (David Makepeace, PEng, 2004).

 

= =

LINKS:

Corporate website.. :

Stockhouse B'board : http://www.stockhouse.com/bullboards/forum...&table=LIST

Share this post


Link to post
Share on other sites

Journey Resources Corporation (TSX.V:JNY): Heading For Production

Download the PDF version here.

By James West

 

Most of us are used to mining stocks trading below fifty cents. That's the value range occupied by many early stage exploration companies who are in the process of acquiring projects, recruiting talent, and raising money. Near-term producers are not generally found here unless they've got close to 100 million shares out issued, or is suffering from some other fundamental problem.

 

Journey Resources is an exception. The company expects to release a feasibility study next month that will recommend the start-up of the Empire Mine, located 5.5 kilometres southwest of Mackay, Idaho where mining has been an important contributor to the state's economy since the days of the wild west.

 

This late-exploration-stage project comprises a poly-metallic skarn deposit with occurrences of copper, zinc, gold and silver.

 

Since the early 1960s, Empire has undergone several exploration drilling campaigns by major mining and natural resource companies. The data highlights 208 holes drilled along the length of mineralization, including extensive drilling in the AP pit area and its northern extension, the Empire Pit. The AP Pit is a zone of near-surface mineralization located at the southern end of the Empire Mine deposit.

 

A report dated August 8, 2005 prepared for Trio Gold Corp., notes that Cambior Exploration USA, Inc. used the measured mineral resource block models to scope mineable quantities of material within the known deposit. Cambior's engineering group estimated the mineable portion of the deposit as 33 million tons grading 0.44% copper, 0.20% zinc, 0.25 gpt gold, and 6.6 gpt silver at a 1:1 mining ratio. Recoveries are estimated at 70% gold, 60% silver, 80% copper, and 60% zinc.

 

The Property consists of 26 patented mining claims, six mill-site claims and 21 unpatented mining claims. An additional 4 lode claims and 25 millsite claims were staked by Journey in December 2006.

 

The town of Mackay itself is positively oriented towards mining, as the town simply wouldn't exist without it. In 1901, the area was bustling with traffic and activity that was primarily the result of major expansion plans scheduled by White Knob Mining Company, a copper mining enterprise. By 1919, an aerial tramway for transporting mined copper had been built near Mackay and it was soon transporting record amounts of ore. At that time, the Mackay area was the largest copper producer in the state and was often referred to as "Copper City."

 

Journey is currently earning a 50% lease interest in the Empire Mine project with Joint Venture partner Trio Gold.

 

Besides this near term producer, Journey has two more aces up its sleeve.

 

The Musgrove Creek Gold Project is located 40 kilometers (25 miles) southwest of Salmon, Idaho and covers approximately 393 hectares (approx. 970 acres). The region has been the focus of mining activity since the late 1800s and the Musgrove property has had several operating gold mines between 1908 and the mid 1930s. Journey is currently earning a 100% lease interest in this deposit, which is comparable to that of the Beartrack Mine, located nearby. Several drill programs have already been completed.

 

A report dated September 2004 for Wave Exploration Corp. references historical resource calculations by Newmont Mining Corporation estimating 340,000 ounces of gold. A 2004 resource calculation was completed for Wave Exploration and the Inferred Mineral Resource was estimated at 313,822 ounces of gold at zero dilution. All data to date is currently being re-evaluated on behalf of the Company by an independent Qualified Person and therefore should not be relied upon.

 

Significant gold deposits have been successfully mined nearby, the latest and largest being Meridian's Beartrack Mine, located 12 miles to the northeast of the Musgrove property. Beartrack was reported to have produced 549,000 ounces of gold.

 

Journey also has significant exposure to silver through a Mexican asset that can easily be put back into production. Journey acquired 100% ownership Vianey property from Minerales Jazz S.A. in 2005. Located 250 kilometres south of Mexico City, the property covers 5,022 hectares (approximately 12,400 acres) and has a silver-lead-zinc mineralization production history.

 

The concession is located in the southern Mexican state of Guerrero, 250 kilometres south of Mexico City and 160 kilometres north of Acapulco. Less than 2 kilometres away is the town of Atzcala, with water, telephone and medical facilities, as well as a sufficient labor pool. There is existing electrical power at the mine and a major power line passes near the property.

 

So what's the bottom line?

 

Journey is clearly in the early stages of transforming from a junior explorer to a producer of gold, silver and copper. Though it is not reflected in the current share price, there would appear to be a great deal of value stored in Journey Resources Corp.

 

@: http://www.jwinsight.com/

Share this post


Link to post
Share on other sites

NOTE from the Stockhouse B-board

 

SUBJECT: Insider continue to BUY like crazy Posted By: Xman1

Post Time: 4/3/2007 22:05

 

The insiders just can't get enough

Journey Resources Corp. (JNY) As of April 2nd, 2007

Filing Date Transaction Date Insider Name Nature of transaction Securities # or value acquired or disposed of Unit Price

Apr 02/07 Mar 30/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 28,500 $0.340

Apr 02/07 Mar 29/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 25,000 $0.320

Apr 02/07 Mar 29/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 20,000 $0.330

Apr 02/07 Mar 28/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 5,000 $0.350

Apr 02/07 Mar 27/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 30,000 $0.360

Apr 02/07 Mar 22/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 50,000 $0.360

Apr 02/07 Mar 21/07 Bal, Jatinder Singh 10 - Acquisition in the public market Common Shares 81,000 $0.360

Mar 19/07 Mar 16/07 Sharples, Clint 10 - Acquisition in the public market Common Shares 25,000 $0.380

Mar 09/07 Mar 06/07 Sharples, Clint 10 - Acquisition in the public market Common Shares 8,000 $0.400

Mar 06/07 Feb 28/07 De Melt, Len 10 - Acquisition in the public market Common Shares 100,000 $0.400

 

 

@: http://www.stockhouse.com/bullboards/viewm...0&TableID=0

Share this post


Link to post
Share on other sites

Journey Resources Announces Private Placement - $1,050,000 @ $0.35 Per Unit

3/30/2007

 

VANCOUVER, BRITISH COLUMBIA, Mar 30, 2007 (CCNMatthews via COMTEX News Network) --

Journey Resources Corp. (TSX VENTURE:JNY)(FRANKFURT:JL4) -

 

The Company is pleased to announce that it has arranged a private placement, subject to regulatory approval. The private placement is for 3,000,000 units at $0.35 per unit for total proceeds of $1,050,000. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional share at $0.55 per share for two years. The unit shares will be subject to a hold period of four months from the date of closing.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

JATINDER (JACK) BAL, Director

 

SOURCE: Journey Resources Corp.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×