More exposure required
posted on
Aug 11, 2011 09:21AM
I think PRB's grade is similar to RCV about a year ago in their news releases. The next few months some higher grade intersection came in which launched the share price.
I don't see where RCV actually got to a resource est before being bought out by new gold.
just last May they had a $400 million market cap and were taken over at $550 MM in a share swap.
PRB is wound up like a spring.. deserves a much higher share price when you compar the 2 companies....JMHO but we should be at least in the $3.00 to $4.00 range right now.
Richfield drills 377.97 m of 1.09 g/t Au at Blackwater
2011-05-10 08:41 ET - News Release
Mr. Peter Bernier reports RICHFIELD DRILLS 377.97 METRES OF 1.09 G/T AU INCLUDING 15 METRES OF 9.30 G/T AU Richfield Ventures Corp. is providing drill results for eight holes of the 2011 30,000-metre drill campaign to expand and delineate the resource on the Blackwater gold project. The project is approximately 100 kilometres south of Vanderhoof, B.C. Gold mineralization is seen in every hole with BW 146 returning the best result, an intersection of 378 metres grading 1.09 grams per tonne Au. The eight vertical holes were collared on the northern part of the Blackwater gold project, in which Richfield has a 75-per-cent interest and Silver Quest Resources Ltd. has a 25-per-cent interest, in which Richfield is the operator of a joint venture. BW 141, BW 143 and BW 148 were drilled on the northeast in the Gold zone. Two holes, BW 144 and BW 147, were drilled in the centre of the joint venture ground. Three further holes, BW 142, BW 145 and BW 146, were drilled in the northwest. BW 142 and BW 145 were drilled from the same collar. Both were abandoned because of drilling difficulties. Out of a total 2,466.8 metres drilled in the eight holes, composited sections averaging 0.3 g/t Au and better total 1,505 metres, about 61 per cent of the total drilling. Out of a total 2,269 samples, 1,041 returned values above 0.3 g/t Au, about 46 per cent. Peter Bernier, RVC president, comments: "We are naturally excited by the good gold grade and the long intersections in many holes. Drilling in the Gold zone also continues to hold up well. Most of these holes are outside of our current resource estimate." Drill map and strip logs for individual holes reported here will be posted on the company website. Widths reported are drill widths; true widths are unknown. Assays are uncut, length-weighted average values.
DDH From To Interval Au Ag
(m) (m) (m) (g/t) (g/t)
BW 141 38 61 23 9.14 10.7
BW 141 105 150.8 45.8 0.66 1.5
BW 141 213 257 44 0.54 0.6
BW 142 12 25 13 0.39 8.7
BW 142 36 39 3 2.04 20.7
BW 142 52 134 82 0.42 5.1
BW 143 15 35 20 2.89 28.4
BW 143 40 243 203 0.62 5.3
BW 143 279 350.52 71.52 0.65 1.8
BW 144 27 34 7 0.54 3.8
BW 144 39 54 15 0.57 1.9
BW 144 147 223 76 0.67 1.4
BW 144 252 338 86 0.37 1.0
BW 144 366 385 19 0.48 2.0
BW 145 19 22 3 0.48 6.3
BW 145 29 37 8 0.44 21.4
BW 145 63 66 3 0.49 5.5
BW 146 39 416.97 377.97 1.09 4.1
BW 146 including 229 244 15 9.30 8.9
BW 147 54 101 47 0.50 2.3
BW 147 142 169 27 0.46 2.9
BW 147 231 242 11 0.36 4.1
BW 147 256 284 28 0.34 1.5
BW 147 293 321 28 0.77 3.7
BW 148 104 111 7 0.58 1.8
BW 148 146 171.6 25.6 1.75 5.0
BW 148 173.43 187.15 13.72 0.73 2.5
BW 148 188 246 58 0.72 3.0
BW 148 252 309 57 0.53 3.6