Re: 28 Days into Golden Extension Drilling...
in response to
by
posted on
Jul 06, 2009 12:40PM
Focused on becoming a near-term Gold Producer
"What do you think will happen to the share price if the drill results are very similar to what Kodiak drilled on the Golden Mile? Their share price is way off because the veins have yet to show economic viability."
No idea.
Personally, I hope drill results show somewhat of a different structure on SGX Jacobus East than initial KXL results. By this I am referring to the fact that initial KXL drilling into Golden Mile primarily concerned a single narrow NWerly vein. SGX system seems to have multiple criss-crossing veins where it is pssible to interesct 2 or maybe 3 with a single very shallow 100m drill hole. Higher concentration of veins with similar gold concentrations per vein would seem to mean more gold and close to surface.
Also, I don't remember hearing language like this in any of KXL NRs to date: "It is apparent that the stripped area now encompasses the contact zone between the Elmhirst intrusion and the surrounding volcanics." or "Vein 9 comprises two discrete veins separated by up to 15 metres of sheared carbonatized and mineralized wall rock. Visible gold is present within the sheared wall rock between the north and south offshoots." Remember this 15m zone was not sampled.
Key results for me will be Vein 4 and Vein 9. What effect on share price will be... obviously no idea. Who does? As long as they uncover what they expected (i.e. high-grade gold) and plan to drill more I will be happy.
P.S. EXS-v moving today. They are expecting results from 2 projects... 1 being Eastford Lake project just south of Kerrs property.
red911