Medinah Minerals (MDMN)

[Goldstrike]

2nd drilling season now. First turned up nothing.

Are you certain that drilling has commenced at this point? Hadn't heard anything definitive on this.

While the first seasons drilling efforts were focused around the Gordon Breccia (a time-waster in my opinion), this years season will be spent on the Merlin veins, a parallel series of five roughly 1.5 M wide veins which are noted in the September 17th, 2015 news release from MDMN:

"AURYN has focused its efforts on the Merlin Au-Cu±Ag high grade gold veins. Using a team of three (3) geologists and three (3) assistants, they have conducted geological mapping on the property on a 1:10,000 scale representing approximately 15% of the concessions. Over 1.5 km of trenching and over 200 samples of the 25 trenches and adits has been completed to expose the high grade gold in quartz veins that outcrop to surface. Gold assays have returned grades up to 66.5g/t gold with a weighted average of 26.9g/t gold on a diluted basis over widths of ~1.35 meter, adding high anomalies in Cu, Pb and Zn. These grades are better than expected. Currently the Merlin 2 vein is being mapped and trenches dug on 50 to 80 m intervals.

Drilling will recommence the second week of October, 2015. The goal is to prioritize the best exploitation targets."

Lastly: "Of particular note are the extraordinary gold assays returned from the Merlin 1 vein, the first vein to be trenched, samples and assayed of five (5) parallel veins that outcrop to surface."

Dr. DeCosta has stated recently that we won't know exactly how valuable these veins are until drilling commences. He states that the position of the "supergene enrichment zone" is in question because what is now on the surface was once deep in the belly of this stratovolcano (which has since blown it's top and been deeply eroded over time).

It looks promising. That's why some, including myself, and despite the dilution of the share structure, continue to hold on.