Greetings from germany! First, sorry for my bad english. I think, i have a very interesting story.
You know Horseshoe Metals? Horseshoe (HOR) had some very good historical drill results (> 15% Cu) and the new drill program confirmed this one. The result of this? Just take a look:
During my research, i found Canamex Resources (CSQ:TSX-V), which has the same strategy as Horseshoe Metals!
CSQ has 383,000 ozs Au historical resource (not a NI 43-101 defined resource) at the Bruner project. The project is located in central Nevada near the Paradise Peak Mine, Round Mountain Mine about 45 miles southeast and the Rawhide mine about 25 miles west.
Including all options, CSQ has 47,592,858 O/S and a cap in the amount of only 8,3 million C-$. So CSQ ist valued at 21 $/oz Au !
Ok, where is the spekulation?
On 22. November 2010, Canamex Resources has begun a program of reverse circulation drilling at its Bruner project. As I said, the historical resource is not a NI 43-101 defined resource, so Canamex will first determine the size and grade of the resource using NI 43-101 guidelines. And then, a NI 43-101 compliant resource calculation once drilling is completed is planned. And the chance to make it right is very big!
CSQ has very good historical drill results. (Page 27 http://www.canamex.us/wp-content/themes/twentyten/pdf/Bruner%2043101%20Revised072810.pdf )
Hole Area From To Interval Au oz/ton
BRU - 19 Duluth 85 90 5 0,689
BRU - 25 Duluth 180 185 5 0,171
BRU - 27 Duluth 115 120 5 1.26
BRU - 27 Duluth 150 155 5 1,80
Hole BRU 27 (Duluth) 1,26 - 1,8 AU oz/ton! And now take a look to the Map of Planned Drill Holes. Green font are historical drills, red font are new drills.
The new hole "P 7" is close to the historical hole "BRU -27" (1,26 - 1,8 AU oz/ton).
You know what will happen when the historical results are confirmed...? let me remind you: CSQ has the same strategy like Horseshoe!
