Basser , 2nd serving sur.v in the net at $1.03, do you follow svl.v and, if so, what is your opine. Thanks Basser, going after trading positions next. ===============================================================
Hi choad, Good grab on the SUR. You sure worked for that one. <G> I'm expecting them to confirm the C$26 million placement this week. It'll be interesting to see who the buyers are. Look for them to begin drilling by May and for the stock to soar soon after.
Though I don't know SVL.V personally, I'd stay away from Silvercrest if I were you. Do you read the PM's boards at SI? If so, you'll be familiar with loantech, one of the posters there who makes a lot of sense to me and who has been condemning SVL's management for some time over their misinformation (read lying) w/r to the drilling rights at El Ocote.
Tom (loantech) posts at IHub as well and you might want to PM him with your questions about SVL.V. Tell him I suggested you contact him because he owes me a couple........ <VBG>
Full text of BN Americas article from SH: McBean--Note that in the headline they use the word "cancel", but in the actual story they use the word "recall". Big difference, in my view. Plus, Spanish is the official language of Honduras, so the whole thing is a translation. Also, I don't see any direct quotes, so there may be some opinion thrown in too.
Paper: Authorities cancel Silvercrest concession - Honduras Wednesday, November 19, 2003 19:37 (GMT-0400) Honduran authorities have decided to recall a silver mining concession awarded to a subsidiary of Canadian junior Silvercrest on the grounds that part of the concession area lies within the Guisayote national reserve, local daily El Tiempo reported.
The country's mining promotion agency Defomin made the decision at the request of community groups from Ocotepeque department. A commission of forestry industry, government and municipal groups was created to evaluate the situation.
Last week Silvercrest said Defomin had asked it to postpone drilling its silver projects in the country while it completes talks with local authorities about permitting requirements and procedures. The company is planning 1,500m of core drilling at its El Ocote project in western Honduras and another program at Opoteca in the central-west of the country.
At the time the company said it believed the delay would be short-lived, adding it had started public relations programs in key municipalities to address exploration issues with locals.
In early October, anti-mining protests occurred in Aramecina municipality in Valle department over reports that Defomin had granted 15 exploitation licenses in the area.
Basser , 2nd serving sur.v in the net at $1.03 ==============================================================
G'morning choad, In case you haven't seen SUR.V's latest update...... The increasing emphasis on their copper potential is only bolstering my earlier belief that this would be a twenty bagger. The proof, however, will be in the drilling results. Let us hope the orebodies have some decent depth to them. <GG>
Sur American Gold Corporation: Exploration and Corporate Update
Monday March 15, 10:54 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--March 15, 2004--Sur American Gold Corporation (TSX VENTURE:SUR - News) is very pleased to provide an update on exploration at its Comval project, Philippines and recently announced financing. Highlights include:
* The exploration focus has moved to a potentially higher grade bulk mineability 800m by 500m area in the Tarale zone on the south-east flank of the Batoto intrusion as part of the selection process for the initial drilling program.
* The discovery of copper mineralization in the Tarale area may suggest a copper-gold porphyry target under Batoto gold system.
* Alteration/mineralized zone at Batoto has now been extended to more than 2km by 2km which is consistent with size of regional copper-gold porphyry systems in Eastern Mindanao Mineral Belt.
* 134 line km geophysical survey commences.
* Excellent response in Europe and Canada to financing.
* People employed by the Company and related companies now exceeds 100.
COMVAL GOLD PROJECT
As part of the area selection process for the initial drilling program a major trenching, mapping and sampling program over a 800metre wide area in the Tarale zone on the southeast flank of the Batoto intrusion has commenced. This area contains more than 20 larger high grade veins including the high grade Amy structure in addition to countless gold bearing smaller veins, veinlets and microveinlets between the major structures. This large area, based on work conducted to date appears to be one of the higher grade zones of Batoto and is being considered as one of the initial drilling targets.
Of potential significance is the discovery of copper mineralization in veinlets within the Tarale #56 vein and other veins in the Batoto system. This discovery lends weight to what several Company personnel and consultants believe may be a copper-gold porphyry target under Batoto. This possibility will be tested by the on-going geophysical program which detects disseminated sulphides typical of porphyry copper-gold systems.
Recent mapping has increased the area of observed alteration/mineralization to more than 2km by 2km.
GEOPHYSICAL SURVEY
An extensive gradient array induced polarization geophysical survey has commenced. Approximately 134 line kms will be surveyed over all the known gold and copper-gold mineralized areas. To date 3km has been surveyed. The rate of progress is expected to be about 800m per day.
DRILLING PLANS
Based on work completed to date, on-going exploration and the geophysical results targets will be selected and progressively drilled. The Company does not plan to wait for all of the geophysical to come to hand prior to drilling but will drill targets as they are defined. The Company anticipates that more than 70,000 metres will be required to adequately test the known targets in the Comval Project area.
FINANCING
An excellent response to the Company's proposed financing has been received from institutional fund managers, analysts and brokers in Europe and Canada. The completion of the financing is about 1-2 weeks behind schedule as a result of the unavailability of some of the key financing managers who have been attending mining conferences in South Africa, Florida and Toronto. Financing documentation is expected to be forwarded to the TSX Venture Exchange in about three weeks.
All sampling practices are approved by Mr Rennie Blair, Company President who is the qualified person as required by National Policy 43-101.
Sur American Gold Corporation trades on the TSX Venture Exchange (Canada) with trading symbol SUR-V.
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