Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
flx.v continuing to reward it's holders...not quite the same as the pq shale plays but still in the right direction for a change...lol...
hsb
all these quebec shale plays going ballistic
pcq,ati,qec,gmr,jnx, pea...
From SH, (PCQ BB),
ATI is next to fly easy double from here.
Middelkoop Discovery Alert****
“Quebec stands on the verge of becoming a major natural gas producer, as a U.S. energy company has reported significant discoveries of shale gas that could transform the region into North America's next hot new exploration zone”
Hello all,
I have just send one of the most Discovery Alerts ever to my members. Subscribe at www.discovery-investing.com <http://www.discovery-investing.com/> to read it all before market open.
Important Gas Discovery in Quebec
Forest Oil Corp., a Denver-based oil and gas company, informed investors on Monday April 1st (no joke) that its Utica shale prospects in the St. Lawrence Lowlands, between Montreal and Quebec City, could hold as much as four trillion cubic feet of natural gas reserves. Discovery of this magnitude are quite rare.
The news elevated Forest Oil shares to 15-year highs. Forest Oil has a market cap of almost five billion dollar. That makes this company much too big for the ten baggers we are hunting for. But what we can do is profit from a developing area play that looks too good to be true and maybe is. So, first a warning about investing in the companies mentioned: they could well be ten baggers or they could devalue over 90% from here.But I have decided to jump in quick and big.
I bought a substantial position in XXXXX Resources on seeing shares had jumped after market opening Wednesday. So did Asset Management I learned later that day. They participated in at least one of the two private placements which were realized within 48 hours after the news of Forest gas discovery was made public. This shows insiders take this area play very seriously. XXXX shares closed trading over 400% higher and are up over 1000% this week already.
It took me quite a while to understand the situation clearly. But after market close I contacted, president and CEO of XXXX, by phone and he informed me on specifics of this story. He sounded very open and realistic. This is what he told me.
The discovery is only 1.5 km away from the property boundaries. According to him it “is very likely the gas formation will also be found “under our land position”.* “We were contacted by several major companies and we “will be talking with a major on April 9th* April”. This formal meeting will most likely result in “a deal”
He also confirmed that their land package, almost 300.000 acres, is directly connected to the XXXXX properties . According to the CEO it is “99%” sure some of the gas will be found on their properties.
When we include these private placements XXXX currently has a market cap of just over $20 million
How to play this
Given the enormous size of the discovery, the extreme low market cap of XXXX *and the amount of publicity this gas discovery will receive in Canada it is not hard to imagine a share price of over at least a dollar in the near future
all these quebec shale plays going ballistic
pcq,ati,qec,gmr,jnx, pea...
From SH, (PCQ BB),
ATI is next to fly easy double from here.
Middelkoop Discovery Alert****
“Quebec stands on the verge of becoming a major natural gas producer, as a U.S. energy company has reported significant discoveries of shale gas that could transform the region into North America's next hot new exploration zone”
Hello all,
I have just send one of the most Discovery Alerts ever to my members. Subscribe at www.discovery-investing.com <http://www.discovery-investing.com/> to read it all before market open.
Important Gas Discovery in Quebec
Forest Oil Corp., a Denver-based oil and gas company, informed investors on Monday April 1st (no joke) that its Utica shale prospects in the St. Lawrence Lowlands, between Montreal and Quebec City, could hold as much as four trillion cubic feet of natural gas reserves. Discovery of this magnitude are quite rare.
The news elevated Forest Oil shares to 15-year highs. Forest Oil has a market cap of almost five billion dollar. That makes this company much too big for the ten baggers we are hunting for. But what we can do is profit from a developing area play that looks too good to be true and maybe is. So, first a warning about investing in the companies mentioned: they could well be ten baggers or they could devalue over 90% from here.But I have decided to jump in quick and big.
I bought a substantial position in XXXXX Resources on seeing shares had jumped after market opening Wednesday. So did Asset Management I learned later that day. They participated in at least one of the two private placements which were realized within 48 hours after the news of Forest gas discovery was made public. This shows insiders take this area play very seriously. XXXX shares closed trading over 400% higher and are up over 1000% this week already.
It took me quite a while to understand the situation clearly. But after market close I contacted, president and CEO of XXXX, by phone and he informed me on specifics of this story. He sounded very open and realistic. This is what he told me.
The discovery is only 1.5 km away from the property boundaries. According to him it “is very likely the gas formation will also be found “under our land position”.* “We were contacted by several major companies and we “will be talking with a major on April 9th* April”. This formal meeting will most likely result in “a deal”
He also confirmed that their land package, almost 300.000 acres, is directly connected to the XXXXX properties . According to the CEO it is “99%” sure some of the gas will be found on their properties.
When we include these private placements XXXX currently has a market cap of just over $20 million
How to play this
Given the enormous size of the discovery, the extreme low market cap of XXXX *and the amount of publicity this gas discovery will receive in Canada it is not hard to imagine a share price of over at least a dollar in the near future.
flx.v emerging from the murky depths of despair...
Guess this explains the endless supply...
maybe put a bottom to this thing for the short term...lol...
hsb
=======================================================================
Re: News Releases - Wednesday, April 09, 2008
Gulf Shores Follows North Sea Success with $3 million Placement =======================================================================
Following its recent participation in the Maria 15/18a-12 discovery well in the UK North Sea, Gulf Shores Resources Ltd. (TSX-V: GUL, the
"Company") is arranging a non-brokered private placement of up to 30 million units at CDN $0.10 per unit for gross proceeds of up to CDN $3 million, subject to regulatory approval. Each unit consists of one common share and one-half of one non-transferable share purchase warrant. One whole warrant entitles the holder to acquire one additional common share for two years at a purchase price of CDN$0.15 provided, however, that should the closing price of the Company's shares on the TSX Venture Exchange be at least CDN$0.25 per share for 20 consecutive trading days (at any time at or following the expiry of the four month resale restriction period), the Company may, by notice to the holder (supplemented by a news release of general dissemination), reduce the remaining exercise period applicable to the warrants to not less than 30 days from the date of such notice.
Finder's fees will be paid on portions of the private placement.
The private placement shares, any shares acquired upon exercise of the warrants and any securities issued in payment of finder's fees will be subject to a four-month hold period.
The proceeds from this private placement will be used for the Company's share of the cost of further development of Block 15/18a in the UK North Sea and for working capital.
Gulf Shores Ltd. paid 11.11% of the cost of the recent Maria 15/18a-12 discovery well to earn an 8.33% interest in the entire block 15/18a.
The Maria 15/18a-12 discovery well encountered a 60 foot hydrocarbon column in the targeted Paleocene Lower Forties reservoir. The column consists of 45 feet of oil pay and a 15 foot gas cap. Reservoir sands are described as excellent quality. A modular formation dynamics testing tool provided samples of both oil and gas in the Lower Forties.
The oil-water contact in the 15/18a-12 well appears to be the same as the contact established in the 15/18a-8 well drilled one kilometer to the south-east thereby establishing one continuous pool. The pool is within the same Paleocene channel trend as the MacCullough and Brenda fields.
The 145 sq. km. (35,800 acres) Block 15/18a into which the Company has earned also contains a large Jurassic prospect in addition to two fallow Jurassic discoveries, one of which tested 6650 barrels of oil per day and 10,000 MCF of gas per day.
In addition, the 3-D seismic survey in UK North Sea Quad 30 has been completed and will now be processed and interpreted. Gulf Shores is paying 20% of the cost of the 3-D seismic survey and 13.33% of the cost of drilling a test well to earn a 10% interest in a 422 square kilometer (approximately 104,000 acre) block located in Quad 30 in the
UK North Sea. Recently acquired seismic indicates the block contains
several Jurassic and Permian plays. A well drilled into one of the Jurassic plays logged oil before the well was abandoned due to insufficient zone thickness. 3-D seismic on the block indicates that the Jurassic thickens to the northwest of that well. Lundin Petroleum AB is the operator of this project.
As part of its continuous active exploration program in the North Sea, Gulf Shores continues to review other North Sea exploration projects.
ON BEHALF OF THE BOARD
"MICHAEL TURKO"
Michael Turko
President
For further information, please contact Mr. Gerald Otterman at (604) 683-3309.
Email: gulfshores@net-conex.com; www.gulfshoresresources.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
=======================================================================
Copyright (c) 2008 GULF SHORES RESOURCES LTD. (GUL) All rights reserved. For more information visit our website at http://www.gulfshoresresources.com/ or send mailto:ir@gulfshoresresources.com Message sent on Wed Apr 9, 2008 at 7:38:43 AM Pacific Time =======================================================================
not a mystery any longer...
Avalanche names Barron as adviser, grants option
Avalanche Minerals Ltd (C:AVH)
Shares Issued 60,020,176
Last Close 4/7/2008 $0.105
Tuesday April 08 2008 - News Release
Mr. Sandy MacDougall reports
AVALANCHE MINERALS ANNOUNCES APPOINTMENT OF ADVISOR
Dr. Keith Barron, co-founder of Aurelian Resources Inc. and recipient of the PDAC International Discovery Award, has entered into a consulting agreement for advisory services with Avalanche Minerals Ltd. Dr. Barron has worked in mineral exploration for more than 25 years, for a wide variety of commodities and on all the continents except Antarctica. He has consulted for both junior and senior companies, as well as investment houses, with an expertise in epithermal gold deposits. He has previously worked for Gold Fields Mining, Battle Mountain Mining and Santa Fe Pacific Gold. Dr. Barron is co-founder of Aurelian Resources and founder of U3O8 Corp. He holds a PhD in geology from the University of Western Ontario and has written numerous scholarly works, as well as general mining interest articles for trade publications.
Dr. Barron's role will include lending his geological expertise as Avalanche advances its Ecuadorian and Colombian projects. Dr. Barron's experience dealing with industry and government officials will be welcomed by Avalanche. Avalanche has also granted Dr. Barron 400,000 incentive stock options as announced in it's news release in Stockwatch of April 3, 2008.
Avalanche's president, Sandy MacDougall, commented: "We are extremely fortunate to have a person of Keith's credentials join our team. His experience in South America will greatly benefit the company as we advance our projects in Ecuador and Colombia."
© 2008 Canjex Publishing Ltd
I know I posted another Greg McCoach article but he says important stuff which may help out some who are confused by the machinations of the recent market turmoil...
Contrarian Value Investing
Greg McCoach Unveils One of HIs Secrets to Investing Success
By Greg McCoach
Thursday, April 3rd, 2008
I feel the need to once again remind investors that we need to stay the course in our junior mining shares, especially during times like now when everything seems so gloomy. This too shall pass, as I like to say, and our markets will be moving to new highs. The metals bull market is not understood by even sophisticated Wall Street firms, let alone the typical investor in America or the main stream media. For the most part they remain CLUELESS!
Don't panic when the chips are down, but learn from these experiences to become a better investor. As you do so, greater profits will come your way. After you have been through a few of the cycles, even the most hard-headed amongst us get better at when to buy and when to take some profits. This, in my opinion, is the secret to investing success, getting better at when to buy some and when to sell some.
The selling part is harder than the buying part. Discipline yourself to take profits off the table when the market is running hot. To survive the ups and downs of the junior mining share market you need to have a good sense of who you are as an investor, and a healthy respect and belief in yourself. Have confidence in what you are doing. This takes a tremendous amount of guts. It is necessary to break away from the crowd mentality.
My Contrarian Value Investing Philosophy
I remember when I realized who I was as an investor. I was 42 at the time and had just read J.P. Getty's autobiography. After reading the book, I realized for the first time that the only way to make big money at investing was to invest in things that nobody had any interest in, and waiting until the market cycled around. In other words, I realized being a contrarian value investor was the only sure way to make money over long periods of time consistently.
Since reading that book, it certainly has worked out for me. I looked around in 1998 at what was totally out of favor and the most out of favor market I could find was the precious metals and mining stocks. I immediately dove in and began to learn all I could. I started AmeriGold, a bullion dealership dedicated to educating investors on the issues of owning the physical precious metals. I also ended up starting The Mining Speculator in June of 2000.
It has been a wild ride, but one that has brought great satisfaction to me in helping others to make money. What is even better is that the best is yet to come for the precious metals and the mining shares. Stay tuned, stay focused and don't let this bull toss you off its back. It is kicking and bucking to knock as many of you off as possible. Hang tight, it will be worth the ride in the end.
Always remember that volatility goes both ways and after we have experienced the down side volatility (like now), look for the upside volatility to begin. It is definitely going to come again for our junior mining shares in the near future.
Good contrarian investing,
Greg McCoach
www.GoldWorld.com
Bottom fishing candidate...lg.v (thinly offered so must be patient with any sizeable accumulation)
Cu/Mo targets in BC, drilling tentatively planned for sometime in may...should do better imho
hsb
gm.v catching a bid today on new acquisition...
from SH BB accdg to a poster there it appears to be part of this Quebec gas play...
The permit block lies within the southern end of the St.Lawrence Lowlands sedimentary basin that extends from the Ontario border to the West to Quebec City to the East and from the St. Lawrence River to the North to the USA border to the South, in the shallow portion of a more or less undisturbed Ordovician Carbonate Platform. Three permits covering 56,622 hectares were granted in April 2006 by the Quebec government and a fourth permit covering an additional 16,399 hectares was granted in April 2007.
Numerous paved and gravel roads exist throughout the permitted area. A secondary gas pipeline connected to the main Gaz Metro line to the north of the St. Lawrence River runs across the property.
The properties are believed to have potential for shallow gas production. These permits are located over the Ordovician carbonate platform near important normal faults bringing the Utica source rocks in contact with potential reservoir rocks in the Beekmantown and the Potsdam Formations providing trapping mechanisms for gas accumulation. The company has developed an exploration program aimed at demonstrating the potential of this area of the Lowlands and is planning to proceed in the field during Fall 2007.
Good article on the current malaise affecting the jrs from 321gold.com site...
hsb
Junior Gold Stocks 3
Scott Wright
Zeal LLC
Mar 28, 2008
"Junior gold stocks" is a three-word expression that for some breeds dismay, trepidation, and anger. But for others it illuminates excitement, opportunity, and profits. Regardless of which camp an investor resides, one thing is for certain. During this fantastic 7-year-running secular gold bull, the junior gold stock realm has been host to a highly-volatile range of sentimental extremes.
Sometimes investors who speculate in the junior market are burned. And being burned on a junior gold stock can certainly be harmful to one's capital. This is just one of many reasons for the lack of investor loyalty toward juniors. When this group is underperforming, traders are quick to capitulate and it doesn't take long for this tiny sector to become the pariah of the markets.
But the reason investors do speculate in juniors lies on the other side of their inherent riskiness, their high-reward potential. When the juniors are in favor they can quickly return legendary gains. Rapid and robust gains always attract traders to a sector regardless of the risk.
And the rewards for speculating in the future hopefuls of the gold mining industry have proven to be colossal. Though there is no junior gold stock index that I know of to measure their gains as a whole, we can look to the producers to give us a baseline of some of the gains thus far. The HUI gold-stock index is the premier index for gold stocks, comprised of elite producers, and has seen an incredible 1331% bull-to-date gain.
But throughout the course of this gold bull the majority of the best-performing gold stocks have been the juniors. The premier juniors have seen gains actually far exceed the HUI's. When a small-market-cap low-volume junior makes a discovery and/or banks resources, its stock can launch parabolic on very short notice.
These fast ascents are possible because juniors usually start out with nothing. And without a project that hosts high-potential gold mineralization, it should be assumed that a junior has nothing. In reality odds are highly stacked against juniors. It takes a lot of skill and capital mixed with a little luck to discover, explore, and develop a deposit that may or may not turn out to be economically feasible. In reality most juniors will fail.
So when a junior does have a successful exploration campaign its exposure and market capitalization should grow. From a fundamental perspective this makes absolute sense. In the process of going from nothing to something a junior is transformed from a company with hopes and dreams tied up in a plot of land to a company with actual assets, and valuable ones at that.
But while juniors continue to do what they do best, explore for gold, these stocks haven't seemed to reflect the recent run up in the price of the metal they seek. Since August 2007 when gold began its march higher from the mid-$600s, junior gold stocks have been treated like the bald-headed step children of the gold-stock sector. And the fact that many juniors trade at the same levels today as they were trading at $300 ago on gold has not sat well with folks.
To take this underperformance even further, gold stocks in general have had a sluggish feeling about them throughout the course of this latest upleg. And the root of this seemingly perpetual unlove comes from generally rotten industry-wide sentiment. Even though the HUI had risen from 300 in August to its recent high of 515, an impressive 72% gain, those deployed in gold stocks haven't been feeling the love.
Now in each and every upleg there is indeed a circus of sentimental extremes. Even in massive uplegs 2, 4, and 6 that averaged gains of 136% over about 9 months, investors had to constantly climb a wall of worries to get to the top. While constants do hold in each upleg, does current upleg 8 have a different look and feel than the rest?
The main thing that has bothered gold stock investors lately is decreasing leverage. Over the course of this bull gold stocks, as measured by the HUI, have exhibited positive leverage to gold of 4.6 to 1. While this positive leverage is fantastic and has made investors a lot of money, it is to be expected.
Gold mining is an inherently risky business. Not only are mining companies slave to gold's volatility, but they must also deal with risks on the geological, operational, geopolitical, and managerial fronts. Gold stocks bear much more risk than their underlying commodity. Therefore their gains should rightly augment gold's gains or else there would be no reason to own them. And this risk/reward tradeoff should be amplified even more for the junior gold explorers.
With gold rising 54% over the same time span as the HUI's rise of only 72%, this perception of sub-standard leverage is in fact tangible. In this upleg gold stocks are averaging less than 1.5 to 1 leverage to gold. Because of this the multitude of gold-stock traders is perhaps righteous in feeling they haven't been adequately rewarded for bearing the risks of owning these mining companies.
At Zeal we've closely monitored the HUI's leverage to gold since this bull began. We've written several essays on this topic and update a chart each week in the subscriber section of our website that monitors this leverage model. And in our most recent thread of research my business partner Adam Hamilton penned a revealing essay that isolated leverage within each individual upleg.
While it is apparent that leverage has been declining over the course of this bull, Adam found that there is no need for alarm yet in the current upleg. Within any upleg the HUI's leverage to gold greatly varies at any given time. And historically it isn't until the final third of an upleg that the truly big gains happen.
Interestingly in past uplegs about half of an entire upleg's gains are realized in this final third. And it is these massive late-upleg gains that typically give gold stocks the positive leverage that investors expect. This final third is also where the unloved juniors come into play.
Since most juniors are too small for institutional investors and fund managers to trade, and individual investors aren't as exuberant early on in an upleg, they typically don't get very much early attention. So while gold stocks indeed rise with gold, the juniors often suffer a lagging effect.
But since it is the individual investors that typically drive the fortunes of the juniors, when they get excited the juniors take off. And as we know from previous uplegs, it isn't until the end of an upleg when the majority of individuals captures this excitement. So naturally with large increases in capital chasing the small-market-cap low-volume juniors, the environment becomes ripe for rapid ascents of these stocks.
Ultimately while at times it is very frustrating owning junior gold stocks, it should not be a surprise that the performance of this group is inadequate in the first part of an upleg. Trader sentiment gradually improves as an upleg progresses, and when greed waxes extreme individual traders inevitably pile in to the juniors and fuel colossal gains. Juniors are the greatest beneficiaries of euphoric spikes.
Aside from the general malaise juniors experience outside of the sentiment spikes, some people believe another hindrance might be holding them down. And this surrounds the major problems in the global credit markets mixed with general stock market volatility to the downside.
Since the majority of juniors has no cash flows they rely solely on equity and debt financing. Therefore today's prevailing economic conditions may have an impact on a junior's ability to raise the necessary capital to fund operations. And a weak stock market doesn't help either. It makes it all the more difficult to not only sell shares but price them high enough to raise sufficient capital.
While these economic dilemmas certainly create valid concerns, I have yet to see financings grind to a halt for the juniors. And considering the gold environment today this is not likely to happen any time in the near future.
Unfortunately all these leverage and economic fears often cause folks to discount the critical role juniors play in the gold mining cycle. Thus sometimes it is important to step back and rethink the vitality of these companies. And their role becomes apparent when you take a strategic look at the health of the greater gold mining industry.
Interestingly after 7 years of rising gold prices, global mined gold production continues to fall as miners are finding it increasingly difficult to extract this precious metal from the earth. Since the industry's supply peak in 2001, gold production has been on a downward trend. In fact 2008 is on pace to make it a four-year running decline in global production.
And looking forward the miners' ability to supply the market isn't going to get any easier. With the demand for this yellow metal continuing to grow there is no slack for the producers. They must renew reserves and grow production in order for this industry to maintain some semblance of balance.
This means on the exploration side of the gold cycle that economically feasible gold mineralization needs to continually be discovered and developed to replace aging and depleting mines. But even after 7 years the gold mining industry still seems to be behind in procuring its inventory for the future.
This is in large part due to the lack of exploration in the second half of the last secular gold bear. The price of gold was so low in the 1990s that there was very little capital available to fund gold exploration. So with financing options dried up, gold companies got behind in procuring the appropriate inventory to replace future production.
Also hindering this replacement issue is the lack of major discoveries in the last couple decades. The discoveries of multi-million ounce deposits are becoming fewer and farther between. And outside of the effects of a gold bear another reason for this is major gold-producing and geopolitically-safe countries have been pretty well scraped over. This is forcing gold miners to look elsewhere for gold, in regions that tend to be geographically challenging and geopolitically hostile.
So where do the gold juniors come into play? Well even though the existing gold producers of the world perform active exploration internally, many are not able to renew their resources fast enough to replace production. In order for the gold industry to survive, and grow, the next-generation gold producers and primary exploration companies play a vital role in supplementing the existing producers' shortcomings.
Whether it is juniors being acquired by the producers or turning into gold miners themselves, their role is crucial. And the juniors understand the opportunities available to them. With the price of gold soaring and many producers unable to ramp up supply, the doors are opened for these eager entrepreneurs to get a piece of the gold pie.
And though the underlying mission of a junior gold explorer is to actually find gold, today's juniors come in a variety of flavors. They range from the shameless promotional outfits that have no idea what to do with their randomly staked land holdings to experienced industry veterans that are proficient at exploration and discovery. Regardless of where a junior falls in this continuum one thing is for certain, there are a lot of them.
Today's hefty population of juniors is a stark contrast to just a short time ago. At the turn of the century the business of gold mining was abhorred. As gold fell to its bear low near $250 only a handful of junior gold explorers could be found. Today as the fortunes for gold have changed there are now hundreds of juniors. And new ones seem to be hitting the markets every week.
While a junior's role in the gold cycle has not changed, choosing the juniors in which to speculate is now much more complex than it was in 2000. Like separating the chaff from the wheat, it takes prudent analysis to separate the duds from the promising juniors.
But with gold stocks disliked and juniors loathed today, is it even worth the time to thresh out the most promising juniors? Yes! In fact usually when the juniors are downtrodden and rejected, intra-upleg, it is the best time to buy. When gold stocks return to favor and euphoria runs rampant, the juniors will be the best-performing stocks in the gold stock sector. And based on our studies at Zeal, we believe probabilities still favor a soon-to-unfold final-third run in our current upleg.
So once you muster up the courage to trade in the junior realm, the next major task is to identify the stocks that have the highest probability for success. And the best way to discover these high-potential juniors is through diligent research and analysis.
Investors must peel away the layers of each company that piques their interest in order to understand their core fundamentals. Due diligence is imperative before you trust your hard-earned capital to the fate of a junior gold explorer.
When folks come to me and want to know how to research a junior I usually highlight some key areas of focus that are essential to understand. In a series of essays I wrote a little over a year ago I detailed what to look for in some of these areas.
From a high level, first it is important to understand the qualifications and history of the management team. In junior gold exploration it is usually nice for the management team to have a strong technical background. If this area is lacking they need to surround themselves with an experienced team of geologists and mining engineers.
From here you'll want to take a look at the quality of projects and the strength of the resources that may already be identified. In the process of doing all this it is also important to consider the geopolitics of the countries in which the projects are located. Then of course you cannot overlook the financials. Examining the balance sheet and understanding the impact of previous financing decisions can be very telling.
I encourage you to peruse these previous essays for more details in each of these areas of focus. When all these research areas are considered in aggregate, you can then formulate an opinion on whether you like a junior or how it may compare to the others.
Ultimately with the hundreds of junior gold stocks to choose from today, it can be quite an undertaking to sift out the winners. This is why deep fundamental research is more important now than ever before. And this is why even our own research team has had to dedicate a lot more time and effort into the stock research the feeds our newsletter trades.
When we do stock research at Zeal we do it one sector at a time as comparables force out the winners and losers. Our latest project took a look at nearly 300 junior gold stocks! And after analyzing each stock we pared down the group to come up with our favorite dozen that we believe have the highest probabilities for success.
These stocks range from small juniors with no resources yet to some of the biggest and best that are either prime buyout candidates or the gold miners of the future. These companies have projects that either host or have the potential to host quality gold resources. And ultimately we favor these stocks because they have the potential to make an impact on the gold mining industry and can greatly reward their shareholders in the process.
Well since we can't fit all the fascinating fundamental information for each stock in our newsletters and since not all stock traders have the bandwidth to spend time researching stocks, Zeal's stock research has been in high demand. It is for this reason that in the last couple years we've been formalizing our research into a report format.
Our last research report published in November on Zeal's favorite gold-producing stocks was exceedingly popular. But it also led to countless requests for us to take a look at the other side of the gold stock spectrum, the juniors. Well we listened and our brand new hot-off-the-presses report on junior gold stocks profiles our favorite 12. If you would like each of these detailed profiles at your fingertips, then please purchase this report today.
The bottom line is junior gold stocks, whether loathed or loved, offer gold stock speculators fast and furious gains if timed right and chosen prudently. These high-flying explorers are indeed the riskiest stocks of this sector, but they can also be the most rewarding.
Currently the juniors seem to be universally hated by all traders. But these stocks will again have their day in the sun. When investors finally get excited about gold stocks, as they should with $900 gold, this sector will again gather momentum. And those well-positioned juniors ought to be the top performers.
Mar 28, 2008
Scott Wright
So how can you profit from this information? We publish an acclaimed monthly newsletter, Zeal Intelligence, that details exactly what we are doing in terms of actual stock and options trading based on all the lessons we have learned in our market research. Please consider joining us each month at www.zealllc.com/subscribe.htm.
Thoughts, comments, or flames? Fire away at scottq@zealllc.com. Depending on the volume of feedback I may not have time to respond personally, but I will read all messages. Thanks!
Copyright ©2000-2008 Zeal Research All Rights Reserved (www.ZealLLC.com)
can.v starting to run a little, cleared the 200dma and golden cross coming up soon...
hsb
when she turns look out below...not alot of depth behind it...be careful...lol...
hsb
Sweet...just need a few more similar drill holes to bring this whole mess out of the sinking morass...lol...
hsb
Alert - TD has reduced margin levels available for selected US securities??? same thing that they did during the tech bust...(expletive-deleted)
hsb
can.v seeing a little more action today...market tech looks like u'll like the obv here if i read it correctly...lol...
hsb
Canaco Commences Drill Program at Handeni Gold Project, Tanzania
Last Update: 3/26/2008 6:00:05 AM
VANCOUVER, BRITISH COLUMBIA, Mar 26, 2008 (Marketwire via COMTEX) -- Canaco Resources Inc. (CAN) is pleased to announce the initiation of exploration drilling at the Company's 100% owned Handeni gold project located in the United Republic of Tanzania.
The drilling at Handeni will assess gold mineralization that is currently the object of intensive artisanal mining along a WNW trend over a known strike length of 6.25km. The Handeni Gold Trend has significant gold mineralization at four separate prospects over the 6.25km of strike, including Magambazi, North Magambazi, Semwaliko and Semwaliko North. All workings are located within a regional WNW structural corridor interpreted from regional aeromagnetic survey. Surface geochemical sampling is currently being conducted to test the entire area.
The Handeni drilling will comprise three separate programs. Phase 1 will consist of reverse circulation ("RC") drilling at Semwaliko North totaling approximately 2,000m. The RC program has started and a drill rig is on site where it will test the gold mineralization, but will also complete water bores to support the Phase 2 diamond drill program. Diamond drilling at Magambazi and Magambazi North will total approximately 2,700m and will also follow up on the RC drilling at Semwaliko North. A reverse air blast ("RAB") Phase 3 program has been planned to target soil geochemical anomalies along the trend that could generate additional diamond drill targets.
Semwaliko North Prospect
In the northern part of the Handeni Gold Trend, at Semwaliko North, the RC drill program is planned to test bedrock artisanal workings that extend over a strike length of 500m and over widths up to 40m. The best rock chip channel samples previously reported from the project (release December 10, 2007) were 10m @ 2.54g/t Au and 2m @ 14.3g/t Au. The RC drill program will test mineralization to a depth of 140m over 500m strike. The Semwaliko North prospect has been further enhanced by recent soil geochemical results that have extended the mineralization to a total strike length of 1.1km at a 40ppb Au cutoff. Three RC drill holes will test this southern extension at 160m centers.
Magambazi Prospect
The planning of a diamond drill program to evaluate the known gold mineralization of the Magambazi prospect is now complete. Twelve diamond drill holes totaling over 2,000 metres will be drilled at Magambazi and 3 holes totaling 700m metres will be drilled at Magambazi North. These drill holes will test the down-dip extensions of known bedrock mineralization that is currently the site of intense surface artisanal mining operations and strong surface geochemical anomalism, including channel rock chip results of 7m @ 5.6g/t Au.
The target gold mineralization at Magambazi is defined by extensive, deep artisanal workings and surface rock chip sampling over 350m strike and is open to the northwest under significant transported cover. At Magambazi North, gold mineralization is defined by a 650m long soil geochemical anomaly (greater than 40ppb Au) with peak soil values of 0.68g/t Au.
The Magambazi prospect lies at the southern end of the 6.5km Handeni Gold Trend.
The planning, execution and quality control programs at the Handeni Project are under the supervision of Andrew Lee Smith, P.Geo. and Dr. David Groves, Canaco's Director of Project Development, Tanzania. Mr. Smith and Dr. Groves are qualified persons as defined by National Instrument 43-101.
Additional information on Canaco, including technical reports and other public documents are available on SEDAR at www.sedar.com or from the Company's website at www.canaco.ca .
Canaco Resources is an emerging junior exploration company trading on the TSX Venture Exchange. The Company is actively engaged in developing an exploration portfolio that includes gold and diamond assets in Tanzania and the El Oro gold project in Mexico.
The Company relies on litigation protection for "forward-looking" statements. Forward-Looking Statements: This press release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the obligations of the Company under the Option Agreement and the Company's plans with respect to the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. No independent consultant has rendered an expert opinion on the property.
SOURCE: Canaco Resources Inc.
Canaco Resources Inc.
Andrew Lee Smith
Chairman and CEO
(604) 488-0822 or 1-866-488-0822
Canaco Resources Inc.
Nick Watters
Investor Relations
(604) 488-0822 or 1-866-488-0822
Email: investors@canaco.ca
Website:
www.canaco.ca
Copyright (C) 2008 Marketwire. All rights reserved.
Greg McCoach...
Junior Mining Companies
The 1 Sector To Emerge, Profitably, Once the Dust Settles
By Greg McCoach
Monday, March 24th, 2008
Events last week have prompted me to send out this communication regarding the sudden collapse of the precious metals market. Let's take a look at what caused the collapse and why junior mining companies are the one glimmer of hope amid the chaos.
Bear Stearns, J.P. Morgan, and the Precious Metals Market
The demise of Bear Stearns, which was reported to the public last Sunday evening and Monday, has in turn caused their assets to be sold off in masse this week.
On their book of liquid assets was a rather large, long gold position. It is being sold off in order to raise cash to offset their massive losses. The spot prices have been hammered because of this activity, but it will be short-term in nature. If you're looking to buy physical precious metals to diversify your portfolio at this point, you are being given an unexpected gift to do so. It won't last long.
Another item in Bear Stearns closet was a massive short-position in the ten year treasury. This of course is being unwound this week, which is making the dollar look a bit stronger than it really is. However, don't be confused by this nonsense, the dollar will soon resume its downward trend.
The fact that Bear Stearns was shorting the dollar to such a degree shows that they were not playing along with the the Federal Reserve banking crowd. And they have been severely punished by the powers that be.
What brought Bear Stearns to its knees was their own riverboat gambling mentality that not only jeopardized them, but the financial system as a whole. This story is just the beginning of what will be a long list of companies that meet a similar fate. Will the Fed and the citizens of the United States be able to bail out all the financial sewage that is about to be uncovered?
What the Fed is doing is nothing more than sleight of hand trickery to gain the assets of Bear Stearns. As I have said before, the Federal Reserve is no more "Federal" than Federal Express. It is a private organization owned and controlled by shareholders, the largest of which is J.P. Morgan Chase.
J.P. Morgan Chase, in other words, is the Federal Reserve... so don't be surprised that they end up with the assets while you and I pay for the debts from the whole mess.
When are people in the United States going to wake up to the ugly realities that are now upon us? This ongoing calamity of financial chaos is going to cause extremely serious consequences to each and every American. Your wealth, security and lifestyle are all at stake as the coming months and years unfold.
4 Ways to Protect Your Financial Security
You should be doing everything you can, including:
Avoiding, paying down and paying off debt
Buying physical precious metals - particularly gold and silver
Getting money outside the country or at least in a better currency
Getting away from dollar-denominated risk
There are going to be banking failures in the United States and around the world. You should be evaluating the merits of who you bank with. Most of the big banks are in a world of hurt. The smaller, independent banks have not leveraged themselves like most of the big banks. So they may fare better, even though they don't offer all the nice, online services the big banks have.
What to Expect From Junior Mining Companies
As far as junior mining stocks go, they will rebound. Right now they are getting hit as investors like us prepare to write checks for our capital gains taxes. Yes, it appears many of us have waited till the last minute to raise money to pay for these taxes. Most of us will have to sell something to pay for them.
So, in the next few weeks, expect further weakness as this takes place. The better companies will be hit with this activity as well. Those who have the cash will be given the best opportunity to buy low and sell high.
After tax season however, and as the precious metals prices begin to make very large moves in April, the bigger junior mining companies will also make their move... going to much higher levels.
As we move forward in the next six to eight months, I see a time where we will begin to beef up positions in companies that are either in production or are near-term producers. Companies that are more speculative and do not have any near-term production capacity will be eliminated. The reason for this is that the risk capital markets are going to be getting much tighter moving forward, and many junior mining companies that are still in the speculative phase will find it much harder to raise monies moving forward. I will be talking more about this in the coming months.
Until next time,
Greg McCoach
www.GoldWorld.com
well it certainly nailed the top of the last move here with a single high(as opposed to acc/dist which double topped)...thanks for pointing it out i will add it to my growing list of indicators...
hsb
Danny Deadlock's take on the current markets...worth a read..cash is king...ensure the companies u invest in have some $$$ in the till or can at least still raise it in this environment...
$3 Trillion in Losses ??!!
This is one of the tougher environments we've faced for smallcap and microcap stocks in a long time. Following the collapse of techs in 2000, we watched the likes of Nortel reduced to penny stock status from values near $100 a year earlier. Now we've watched Bear Stearnes (BSC), a company around since the 1920's and with 14,000 employees, reduced to rubble. A year ago BSC traded at $150 and last week hit $3. While most joke about small and microcap stocks and their valuations, no one was laughing when the Feds and JP Morgan valued BSC at just over $200 million.
What started out as a $200 Billion problem in the sub- prime sector of the mortgage market, is now estimated by some mainstream analysts to be in the range of $1 to $3 Trillion ! The latter estimates assume that with growing unemployment and falling house prices, the mortgage problem spills out from sub-prime into what was previously considered to be less risky, prime lending (in addition to surfacing problems in commercial real estate and associated loans).
Slow Torture on Equities
Even when halted on good news, most stocks are seeing a very brief rally and then a sell off. Shareholders are basically waiting for the liquidity of good news to free up the cash - under most any circumstances. I'm even seeing this on highly liquid Nasdaq stocks that get good news or analyst upgrades - the situation is obviously much worse for the little guys.
This environment is making it very difficult to speculate on. For the time being, our focus will remain on companies with strong cash positions and preferably, grossly discounted to a strong asset or reserve base.
Our paid Streetsignal service is tracking almost 350 stocks from the newsletters and brokerages and we're seeing the same lack of interest across the board. Our strategy there is to avoid sitting on dead money until we see strength on a technical (T/A) basis.
Its a tough situation but the smallcaps and microcaps are doing no worse when you compare them to what has happened with many mid and large caps tied to financial services. When a company like Bear Stearnes loses 40% of its value in one morning, you can imagine the financial and psychological impact it has on pension funds and employee portfolios - its devastating.
...
Direction For 2008
In a nutshell.... we'll maintain a very heavy weighting to the resource sector as commodities are one of the only bright spots in this mess. Demand for metals and minerals from Asia will continue strong and we're already seeing a flight to safety through gold. Speculations tied to resource exploration and development will remain our focus for the remainder of 2008 as they provide excellent leverage (although volatile) to record high commodity prices.
Check the exposure you have in pension accounts to anything tied to the financial services industry. Don't just assume that because this is a U.S. problem, we will be immune from it in Canada. Expect to see tightening credit policies across the board. Loose credit fueled the real estate boom, and tight credit will slow it down dramatically. Going forward you DO NOT want to follow companies with high debt - cash is king and strong balance sheets will become a critical criteria to any investment or speculation.
i don't rely on it totally but have found it does help to explain some price action which other indicators could not...it is a coincident indicator to be used in concert with others...seems alot of the jrs now (clarification:that I watch)are showing distribution which explains their poor price action...
hsb
thanks for that chart market tech, i would add acc/dist to your signals monitored as it clearly shows that this one has been in distri mode since around Feb 25th give or take a day or two...once the longer term sto's start to turn and a/d starts heading north again cud be game on...of course stabilizing au price after support found there wouldn't hurt...but given the support coming up on the chart looks like we're within .20-.40c of the low for this move as of Thursdays .close...
hsb
someone doesn't know how to buy stocks...lol...
hsb
GEO MINERALS LTD GM:TSX VENTURE Stock
Last
Price 0.185 Open 0.185
Change $ 0.04 Change % 27.59%
Large: 1d 5d 1m 3m 6m 1y 5y
Custom
Bid (size) 0.12(5) Ask (size) 0.185(40)
Volume 5,000 P/E 0.00
Today's
Range 0.185 - 0.185 52-Week
Range 0.10 - 0.22
# Orders Board Lots Bid Ask Board Lots # Orders
1 5 0.120 0.185 40 1
2 106 0.115 0.200 500 1
1 50 0.110 0.210 40 2
1 100 0.105 0.220 20 1
1 40 0.100 0.300 60 1
19 Mar 2008 13:52 PM ET Real-time quote TSX Venture
little correction going on today i see for the yellow stuff...good...corrections(however painful at the time) are important to build strong bases in ongoing bull markets...
hsb
Samples from the Whiskey Gap Project Submitted
March 17, 2008, GEO MINERALS LTD. (“GM” or the “Company”) is pleased to announce that Dolman Drilling of Pincher Creek has completed the drilling of 378 meters in five Reverse Circulation holes on the Whiskey Gap property located in Southern Alberta along the Canada/U.S.A border.
Samples were collected from 2 of 5 reverse circulation holes in a recently discovered area that returned assay values as high as 160 ppb Uranium, 420 ppb Molybdenum and 140 ppb Arsenic in water samples as previously reported by the Alberta Geological Survey (AGS sample number 06USA017). The two locations the samples were collected from are approximately 50 meters apart. The samples were collected over a 2 meter interval from both holes, beginning at 45 meters below surface. The samples have been sent to the SRC in Saskatoon for analysis.
About Whiskey Gap
The 44,400 acres Whiskey Gap Uranium project is located in Southern Alberta along the Canada/U.S.A border. North American Gem Inc. entered into a Joint Venture Agreement with International Ranger Corp. (OTC pink sheets: IRNG) on November 1, 2005 and has completed two drill programs in which anomalous radioactivity was intersected in 31 of 37 drill holes totaling 4005 meters.
With the discovery of strongly reducing, radioactive sandstones, containing anomalous heavy metals and associated radon in water, Management remains confident that the Whiskey Gap lands could contain significant Sandstone Hosted Uranium mineralization.
Most recently a Water Sampling Program had been conducted on the Whiskey Gap project lands by the Alberta Geological Survey. The survey data is released as Earth Sciences Report 2007-08 by R. Olsen and S. Anderson of the AGS. The AGS study confirmed the Anomalous Radon and Uranium in water values first located during the original International Ranger and North American Gem exploration programs.
AGS sample number 06USA017 collected from a location not previously sampled, returned values of 160 ppb Uranium, 420 ppb Molybdenum and 140 ppb Arsenic. These sample values are approximately 4 times higher than any previous water samples taken on the property and are located up “flow direction” of a strongly reducing zone of anomalous mineralization and radioactivity defined late in the 2006 drill program.
Sandstone hosted Uranium mineralization typically is localized at the boundary between oxidation and reducing conditions, these zones typically contain high levels of heavy metals in addition to Uranium. The Whiskey Gap property is underlain by a series of fluvial sandstones of Cretaceous age, thought to be analogous to sandstones in parts of Wyoming that host significant Roll front Uranium deposits.
On December 29, 2007 Geo Minerals announced that it had entered into an Option agreement on North American Gem Inc.’s Whiskey Gap Project. Geo can earn up to a 50% interest in North America Gem’s potential interest (North American Gem Inc. can earn up to an 80% interest in the Whiskey Gap Project) should the project reach feasibility. This arrangement would therefore have Geo Minerals Ltd. And North American Gem Inc. with an equal 40% earn in on the Whiskey Gap project with International Ranger Corp. (OTC pink sheets: IRNG) holding the remaining 20% of the project’s interest.
The project is under the direction of Glenn.S. Hartley P. Geol. in accordance with the regulations of National Instrument 43-101.
GEO MINERALS LTD.
"Michael England"
President
Contact:
Michael England, President
1220 – 789 West Pender Street
Vancouver, BC V6C 1H2
Company Phone Number: 604-683-3995
Company Fax Number: 604-683-3988
mike@geominerals.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
just about exhausted on the sell side...
hsb
# Orders Board Lots Bid Ask Board Lots # Orders
2 224 0.135 0.140 125 4
12 565 0.130 0.145 96 4
4 226 0.125 0.150 95 4
3 158 0.120 0.155 52 2
1 40 0.115 0.160 49 2
14 Mar 2008 13:36 PM ET Real-time quote TSX Venture
guys/gals might want to add gm.v to ure watchlists...rumours of a new ppty acquisition or two coming into this deal could start the ball rolling.
hsb
on a day pull? tough to call the end of that downward trend of late...
nice entry coming up on it...if you can snag it under 4 looks like a keeper 3.80 floor looks pretty solid...
hsb
$treet,
here is an article which came out a few days ago which may explain some of the rekindled interest in this beaten down old explorer...
hsb
Canaco set to drill new gem targets
2008-03-04 15:11 ET - Street Wire
by Will Purcell
Andrew Smith's slumping gold and diamond hunter, Canaco Resources Inc., will drill up to 60 holes into four potential kimberlites on its Magembe diamond project in Tanzania. The untested targets lie in the shadow cast by one of the world's most prolific diamond mines over the past 70 years. Proximity to the old Williamson mine makes the story promotable, but it still has been a tough sell for the past year. Canaco's stock chart resembles a downhill ski slope since its shares touched the $1 mark in the fall of 2006. The slide is leveling off near the 20-cent mark, leaving grumpy investors anxious for some good news.
The plan
Mr. Smith said that Canaco would drill its holes using a rotary air blast rig. The equipment is comparable with the reverse circulation drills often used in Canada to test kimberlite targets, but does not employ water to flush the material to the surface. A percussion drill bit pulverizes the rock and the resulting chips ride the air blast to a collection area above ground. That suggests a frightening ride for the diamonds, which are hard but will easily shatter into minuscule shards.
Cost is the main reason Canaco chose the air blast drill as the operating cost of the equipment is just $15 per metre. Mr. Smith said the total cost of drilling 60 holes to an average depth of 70 metres would likely be no more than a few hundred thousand dollars. Should the tests hit kimberlite with diamonds and indicators comparable with the Williamson mine, Canaco will drill a series of more reliable, and more expensive core holes.
The drilling will likely start in earnest once the rainy season ends in the Shinyanga district of Tanzania. The showers typically start late in March and wind up early in May. The rainfall is hardly a monsoon on the Serengeti plains, averaging about 20 centimetres during the wet period. Mr. Smith said the rains were a problem mainly in remote and hilly areas to the northeast. Fortunately, the area surrounding Canaco's property is quite flat. Nevertheless, Canaco would prefer to wait for the dry season to start before getting busy.
The encouragement
Canaco is still unsure its targets are kimberlites, leaving it to tout the Williamson mine as the main encouragement. The old De Beers dig also goes by the less pronounceable name of Mwadui. A Canadian geologist, Dr. John Williamson, founded the mine in 1940 and he called the area Mwadui, after a local tribal chief. After nearly 70 years, the two names are now interchangeable.
Canaco's kimberlite targets went untested because of a strange Tanzanian rule. In the 1940s, the government granted De Beers a buffer property surrounding its mine. The zone allowed De Beers room to keep illegal miners at bay, but the company did not have the right to work the buffer claims. As a result, its diamond potential sat in exploration limbo for many years.
Tanzania changed its mining act several years ago, outlawing buffer properties. Local groups grabbed the northern and southern halves of the buffer claims and one dealt off the northern portion to Douglas Lake Minerals Inc. Canaco is now earning a 70-per-cent interest in that ground.
The Williamson mine ran at an average of about 0.3 carat per tonne during its first few decades, but it now averages less than 0.1 carat per tonne. The mine produced some exceptional pink diamonds over the years, including a flawless stone given to Princess Elizabeth and Prince Philip when they married in 1947. As a result, the diamond value is higher than average, at more than $100 (U.S.) per carat. As a result, even a modest smattering of diamonds from the planned test would warrant further core drilling.
Canaco closed up four cents to 25 cents Monday on 163,500 shares.
Gmorning venture traders...can.v continues to improve...battling against and possibly capturing the 200 dma today...for the 1st time since nov 07...
hsb
Gmorning venture traders...can.v continues to improve...battling against and possibly capturing the 200 dma today...for the 1st time since nov 07...
hsb
hat really starting to move...
hsb
yes it kinda reminds one of that movie awakening with Robert Deniro and Robin Williams...the comatose patients coming back to life...lol...can.v is another lost cause for me coming around i suspect.
GUL.V Depth
chomp chomp chomp
# Orders Board Lots Bid Ask Board Lots # Orders
6 112 0.140 0.145 160 5
12 743 0.135 0.150 297 7
12 486 0.130 0.155 133 5
3 164 0.125 0.160 69 3
3 171 0.120 0.165 60 2
7 Mar 2008 10:12 AM ET Real-time quote TSX Venture
gmorning venture board,
don't look now but theres some life coming back into some of these beaten down junior u exploration stocks...one i've been lucky enuf to be bottom feeding on (.16c) is rpt.v. lots of cash and a common director in nelson baker (Rainy River)...worth a look in here...been beaten like a rented mule...
hsb
this week could be categorized as capturing the 50(dma).
flx,gvg,exm and ggi all accomplished this feat in the past week or so which is nice to see, hopefully they can hold it.
hsb
chomp chomp chomp slowly but surely the floor is being built underneath the stock in here...
hsb
guess this is why...
FIELDEX SAMPLES UP TO 11 GRAMS PER TON OF GOLD IN NORTHERN QUEBEC – CONTINUES DRILLING
Rouyn-Noranda, Quebec, March 5th, 2008. Fieldex Exploration Inc. (FLX :TSXV and F7E : Frankfurt ) is pleased to announce additional grab samples results from a 1.3 metre wide quartz breccia vein structures hosted in a quartz monzonite intrusive complex at the Temiscamingue property located in Northern Quebec.
Two grab samples 3793 and 3794 are 25 metres apart and returned 10.97 and 10.23 grams of gold per ton with significant silver.
Sample No. Gold (g/t) Silver (g/t)
3793 10.97 22.7
3794 10.23 34.3
The Guimond gold showing is on ground held by Superior Diamonds, of which Fieldex has 100 per cent of the gold rights, with Superior entitled to a 2-per-cent net smelter royalty.
Drilling
Fieldex has also completed the first hole of a 500-metre drill program on the Guimond project.
The first hole, collared at minus 45 degrees, intersected at 122.40 m to 123.50 m a quartz epidote vein with disseminated pyrite. The vein is similar to the vein in surface which returned value cited above. Several similar quartz epidote with sulphide veins were also encountered along the hole and could contained gold values as well. Core samples will be sent to Techni-Lab with assay results expected shortly. The next series of holes will target the East Vein structure, approximately 100 feet (33 metres) away from the old working (trenching), on a 50-foot-by-50-foot step-out pattern to delineate and determine the continuity of grade within the gold-bearing zone. Additional exploratory drilling to determine the strike extent of the vein structures i! s also p lanned from strategically located drill pads.
Quality control
Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and other half retained for future reference.
Qualified person
The Temiscamingue projects are being supervised by Laurent Hallé P.Geo, the qualified person for these projects.
About Fieldex:
Fieldex is a mineral resource company actively exploring in Quebec for nickel-copper-platinum group metal deposits located through out Northern Quebec, representing over 600 km². FNX Mining Company owns 6 500 000 shares of Fieldex Exploration Inc.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Martin Dallaire, eng
President & CEO Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com