TRGD is still holding 100% of The Las Minitas Property is located in Sonora, Mexico, approximately 40 air kilometers northwest of the town of Alamos. The property lies at the western edge of the province known as the Sierra Madre Occidental gold-silver belt where a number of successful gold/silver exploration projects are ongoing.
Recent exploration suggests that a mineralization corridor may exist that covers a minimum 3 km strike length, is 100 m wide and is believed to extend for at least 10 km. Drill hole 07-MN-10 at the El Negro target intersected 3.12 g/t gold and 43.80 g/t silver over 24.5 m, including a 1 m section grading 26.07 g/t gold, 273.50 g/t silver. -possibly a major silver ore body
iShares Silver ETF (SLV : NYSE : US$18.95)
Net Change: 0.84, % Change: 4.64%, Volume: 29,509,692
All coming to fruition? The speculation concerning silver short covering is running rampant. Tuesday saw another vertical move in silver, as the bullion bears attempt to cover their paper shorts, which is tricky considering how tight the physical market is, and how vulnerable they are to discovery now that their attempt to suppress the price is falling apart. Also, earlier this week we had the announcement by the U.S. Department of Justice and the Commodity Futures Trading Commission that they have launched parallel criminal and civil investigations of JP Morgan Chase (JPM) and its trading activity in the silver market. The probes are centering on whether or not JP Morgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver. Silver is often described as "gold's poorer cousin" and usually plays second fiddle, but recently the only thing poorer about silver is the shorts! Remember, in addition to its store of value use (like gold), silver has a
wide array of industrial uses (such as imaging, electronics, jewellery, coinage, superconductivity and water purification) and could be more favourably positioned for a recovering global economy. Currently, the gold/silver is approximately 64:1, compared to the historical norm of around 50:1. There is lots of room for silver to outperform gold going forward (historically speaking). Some of the silver players posting a great day Tuesday included: Pan American Silver (PAA), Silver Wheaton (SLW), Silver Standard (SSO), Hecla Mining (HL), Coeur d'Alene Mines (CDE), Bear Creek Mining (BCM), Fortuna Silver (FVI), and Alexco Resource (AXR).
