Re: Information
in response to
by
posted on
Dec 05, 2009 05:12PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
On theit website you find the following recent table of data.
http://www.kodiakexp.com/_resources/news/HR_DH_SigInterceptTable_27-NOV_2009_FINAL.pdf
Most data are from the Golden Mile and most report less than 1 m lenghts and most grades are below the 3 gpt range, with occasional higher and also much higher grades. Clearly the main focus has been on the Golden Mile.
What I find potentially positive is that they(on their website) talk about 3 parallell high grade zones at the GM.
The Golden Mile, the principal vein at Kodiak’s Hercules Project, is a large quartz vein system with visible gold and sulphides exposed on surface along a three kilometre strike that remains open. Continuous gold mineralization was initially traced on surface for more than 400 metres, and channel samples taken every 20 metres along this zone had an average grade of 20.2 gpt Au over an average width of 3.8 metres. Systematic resource delineation drilling has so far outlined at least three parallel high grade zones with a northwest plunge, within an envelope of lower grade gold mineralization."
If indeed there are 3 paralles zones not too far from each other with reasonable widths and grades, then there is more hope. Has anyone found a visual presentation of these parallel zones? I have always envisioned only one zone, which then has been paralleled with Lucky Strike about 200 m away(west) and then others about 1 km away on the other side(east).
Below is a link to an image from their website of a figure from Jan. 2008.
http://www.kodiakexp.com/_resources/hercules/Bill-Hercules-tilt-promotion12-no-NE-fault%20small.jpg
I don't know why they can't update such figures. It is on their present website and it is 2 years old, that is not acceptable. Can't find Lucky Strike on that figure. 2 years of hard work has past and it does not show on their main website describing the Hercules project in spite of that most drilling has taken place along the Golden Mile. Does this mean that no actual progress has been made the last two years? This apparent lack of progress is clearly a main reason the share price is lagging.
Clearly there is a lesson to be learned: No work is done before the paper work is done