Let's break it down:
1. CNEX aquires 100% rights for the Queen Alexandra property - where proven gold deposits found.
2. CNEX annouces that initial results also find a conductive zone
3. They mobilize crew
4. They resume work
5. They release the assays and say they will hire a certified Geologist to become NI compliant.
Quote:
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Sample results varied and included values that returned 1.34 Au g/t (#709256), 4.66 Au g/t (#709255) and 14.47 Au g/t (#709258).
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6. OGS recommends further exploration based on results
Quote:
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PHOENIX, AZ--(Marketwire - April 19, 2010) - Cannon Exploration (PINKSHEETS: CNEX) announced today that The Ontario Geological Survey (OGS), a division of the Ministry of Northern Development and Mines (MNDM), has released their recommendations for exploration for gold in Northern Ontario, which include Cannon Exploration's Queen Alexandra Gold Mine.
The OGS and MNDM published their recommendations for exploration in 2009 for Ontario. In the study, the OGS recommends exploration for gold in the Kenora district of Ontario as favorable because of the discovery of gold in the area, and the favorable geology of the area to host gold mineralization.
In their recommendations for the Kenora district, the survey makes note of the "Queen Alexandra Mine" and its location within the areas that would be "favorable to the emplacement of gold-bearing quartz veins," adding that the old mine has a history of gold showings, and has produced gold in the past.
The following excerpts have been selected from the OGS publications, which provide a source(s) of information on the geological setting and summaries of mineralization potential in the Kenora area.
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7. CNEX annouces further exploration for 2010
8. CNEX annouces Phase I has been completed (June 2010)
9. CNEX annouces Phase 2 to start end of August
This sounds like a VERY logical step-by-step process and progress to me. I've spoken to Karen on numerous occasions and she has consistently told me that this is how it works. They need to do it by the book for the NI and it certainly appears they are doing it that way. We already know there is gold there - look at #5. Next step after the IP is targeted drilling folks. That's not far away at all.
Ask yourself this very important question:
If they didn't release the original assay results and came back today with these numbers stated: 1.34 Au g/t (#709256), 4.66 Au g/t (#709255) and 14.47 Au g/t , would you buy based on that...? I certainly would!!! The good news is that WE ALREADY KNOW there's gold. Would they go back to do further testing if there wasn't? Would they have taken all of these steps so far, to get to this point, if it wasn't worthwhile?
Be patient - this one is an investment. Look how long it took K_TX to get to this stage. I made the mistake of selling K_TX too early. If I still had my million shares of K_TX when it hit .24 cents, I would be sitting on $240,000 right now. I still made money but not life changing $$$. I currently hold 1.6 million shares of CNEX, I won't be making that same mistake. HOLD YOUR SHARES AND BE PATIENT. Our time will be here sooner than you think.
AI
