Re: The Gold is there...
in response to
by
posted on
May 03, 2010 09:36AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Hi Alibaba!
I have to disagree with your comments. Looking at the intensity of the results that KXL reported in their active exploration programs, there is definately a gold bearing system across much of the property that KXL controls. That we have not found a zone of enrichment so far does not mean that its not there, or that we need to hope for a miracle. What it means is that the mineralization is complex, and the entire district is still in the very early stages of discovery so they are almost re-inventing the wheel with every new program. There is a much greater body of knowledge for most mature goldfields in Canada that has provided a head-start for other explorers in those areas. For KXL they learn with every core they pull.
Given that they are in a difficult region, I take heart that they have demonstrated such commitment to this district. I was disappointed they gave up on Caribou after just a few holes and I would much rather they stay at it in B-G and keep spending the money to get something of value.
If Golden Mile had emerged sooner as a large resource play, I believe that the entire package of land holdings controlled by KXL would have become one of the most desireable exploration districts in the world. Just look how Red Lake became the premier gold discovery zone in Ontario when they starting pulling the huge high grade intervals. Look how fast Timmins-Porcupine has returned to the limelight. Those were established goldfields with a lot of data for geos to work with. I am not going to writeoff B-G too quickly.
cheers!
mike