What else could you ask for?
posted on
Jan 20, 2011 05:33PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Haven't done the fine toothed comb thing yet but from what I can tell, these results are VERY supportive of this being a significant deposit.
I like to go to my trusty map...
http://goldenhopemines.com/_resources/maps/Timmins_Prelim_Drill_Comp_Jan_13_2011_v2.pdf
What you will notice, if you care to take the time is that if you seek out the holes that they are reporting on (124, 125, 130 132, 133) in this press release, that they are finding gold where they expected to find gold. They didn't find it where they didn't expect to find it.
If you want to get fancy, look at the red lines which show the 'Au Mineralized Zones (Projected to Surface)' By my eye, this is the area where it looks like we found the gold.
You will also notice that the purpose of this drilling was to prove how deep the Timmins Deposits are. Well, it looks like they are deep. Deep=Tonnage.
This leads me to believe that this NR was merely an appetizer for the next course....88 Zone aka Snow White.
IMO, these are exactly the kind of results we could have expected...and in turn, that is very exciting.
Good day for shareholders who actually believe in the big picture.
And a little propaganda about gold...
Gold
Our fundamental view has not changed for 2011. Gold prices have currently been slumping along with expectations that the U.S. economy is recovering. Is this an indication that investors are gaining confidence in the global economy by taking their money out of the historically safe gold and putting it in more speculative ventures, or merely a small correction in a continuing upward trend?
In the wake of economic recessions which primarily hit Europe and the United States, investors began pulling their investments out of currency and putting it into gold. In December 2010, gold prices in New York hit an intraday record high of U$1,432.50 per ounce. As of January 14, 2011, the price of gold closed at U$1,361.80, a decrease of about 5 percent. Now, analysts are speculating whether this slump will be part of a long-term trend in the midst of an economic recovery, or a simply a small correction in the market.
We don't believe the strength of the U.S. economy is so much an issue with gold. The bigger issue is that investors will look at the debt problems in the U.S. and ask themselves how those are going to be resolved.
Gold is a financial asset, typically competing with interest bearing assets. When real rates are low, investors turn to gold to hedge against negative real returns. At the same time, rising gold mining production costs are likely to keep output production relatively flat. Shares of gold producers have not kept pace with the rise in commodity price; hence we think the shares of gold producers continue to offer investors the best way to take advantage of gold. (Source: GMP Securities L.P., January 2011)