Big Volume on Friday!!!
A lot of volume on Friday on the TSX over 2 mil. Lets hope that someone heard a rumor on the drilling results from Ecuador. Those holes should be finished by now, it is over a month since the NR stating that drilling has started and they started a few days before they put out that NR.
Also it would be good to keep an eye on THRs drilling of the Whalesback next to the Little Deer property, with added copper it will be a much nicer target for a buy out. In the next few weeks I am hoping that CGP & THR will start drilling in early January on the Little Deer again to bring the inferred resource over into the indicated side of the equation, which will make the deposit more attractive. With 50,000 + meters drilled so far and more drilling on going and more on the way in 80 plus holes this property will be a pay ouy for sure. These 2 properties are getting to point now that they are starting to attract attention for a major. Keep your eyes and ears open.
Project Overview from THR web site.
Ownership Thundermin and 50% joint venture partner Cornerstone Resources Inc. own a 100% interest in the Little Deer Copper Deposit and adjoining property. Thundermin has the right to increase its interest to 75% by completing a feasibility study and by arranging 100% of mine financing.
Operator Thundermin
Past Production Minor production by BRINEX 1970-72 from adjoining Whalesback mine; minor production by Green Bay Mining 1973-74 via ramp
Deposit Type Cyprus type VMS deposit in ophiolitic mafic volcanic rocks
NI 43-101 Resource Indicated 1,911,000 t @ 2.37% Cu, Inferred 3,748,000 t @ 2.13% Cu
Process Normal flotation process produces a clean, high grade copper concentrate grading over 28% copper with over 97% copper recovery in locked cycle tests.
Mine Type Shaft/ramp - underground
Location 10 km north of Springdale, Newfoundland
Status P&E Mining Consultants Inc. completed a positive preliminary economic assessment on November 1, 2011. A major diamond drilling program is planned for 2012 to commence upgrading the Inferred Resources to the Indicated Resource category so that aa pre-feasibility or feasibility study can undertaken.
