Got SUR...got a tourniquet?...Dan, I hope you did not stay in this thing for a bottle of sparkling wine, like the guy at the blackjack table who leaves beaucoup bucks on the table while he waits for his "free" drink. ===============================================================
Hi Ben, SSSSSHHHHHH! 'They're' finally getting it into my desired buying range.
Thanks for your concern, but not to worry. I paid for my entire position with that 20% sale over 1.90 and still have some repositioning to do.
I wrote earlier on the Mostly: Classical thread
The price action of late has been telling us a different story than that which the SUR PR's are saying. It seems to me to be something more than a PoG thing and it will be very interesting to see which side is proven to be right.
Fwiw, my money is still on SUR.
Obviously I have mixed feelings w/r to the recent price action but I think I understand what might be happening and I always prefer to take a longer term view than most who post here.
Have you seen their latest PR? They use the "b" word again. <VBG>
Sur American Gold Corporation: Exploration Underway at T'Boli Gold-Silver Project-Historical Bonanza Assays up to 656 g/t Gold
Friday January 23, 11:12 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 23, 2004--Sur American Gold Corporation (TSX VENTURE:SUR - News) is very pleased to advise that exploration has commenced at its high grade gold-silver T'Boli project in South Cotabato Province, Philippines.
Previous exploration during 1996-1997 by Sabena Limited, which is now a 70% owned subsidiary of the Company consisted of more than 7000 metres of core drilling which outlined a 43-101 compliant inferred resource of more than 400,000 ozs of gold and 1,600,000 ozs of silver in 2.4 million tonnes grading 5.5 g/t gold and 21 g/t silver (see table below). Drilling was only conducted to a depth of about 300 metres and all veins remain open at depth and along strike.
The T'Boli gold-silver project consists of 7 high grade steeply dipping epithermal quartz veins where sampling of veins in underground development also revealed "bonanza" gold assays of up to 656 g/t gold and 1630 g/t silver over intervals of about 0.5 metre. Many other vein grades exceed 100 g/t gold with correspondingly high silver values. Assaying by the 30g fire assay technique was undertaken at the McPhar Laboratory in Manila which is an ISO 9002 accredited laboratory.
The bonanza gold values often occur in soft, extremely high grade narrow zones which, in the opinion of the Company may not have been recovered during the core drilling programs. Lack of recovery of soft rock (and often high grade gold zones) is a common problem in core drilling programs which has prompted the company to embark upon an extensive re-assaying of many of the T'Boli veins exposed in the underground development openings by bulk leaching at the JBMM laboratory at Monkayo, Compostela Valley Province where the Company conducts its initial assaying of its Comval gold samples.
(Click on link below to view "INFERRED MINERAL RESOURCE" table.)
Mineral Resource calculation methodology as practiced in Canada and Australia does not allow for the inclusion of the full "bonanza" assay grades in a resource calculation because of the impact such high grades may have on resource estimates. Generally only a small percentage of the very high grades are included in any calculation.
The focus of the exploration program will be directed towards detailed geological work on the existing vein system and by developing adits along several of the major veins to provide bulk samples for metallurgical testing and to increase known resources to at least 1 million ozs of gold and 3 million ozs of silver during the first phase of exploration. This development will also create new sites for further drilling of the various veins, which as stated are all open at depth and also along strike.
In addition to the work to be undertaken at T'Boli exploration will also be undertaken at the nearby Lam Asam alteration system which can be traced for more than 1000 metres along strike. An extensive system of small scale tunnels are located in the western end of the system and best results from limited channel sampling of adits returned values of 33.9 g/t gold and 1954 g/t silver. Another area based on the average of 16 rock samples returned values of 35 g/t gold and 1324 g/t silver.
Maps and cross sections of the T'Boli area are available on Sedar and were filed in January 2003-"Independent Technical Report Prepared For Sur American Gold Corporation by Cooper Geological Services Pty Ltd".
Sur American Gold Corporation trades on the TSX Venture Exchange (Canada) under the symbol "SUR-V".
On behalf of the Board of Directors J. Rennie Blair, MSC., F.Aus.IMM, President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this News Release.
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