The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
Pediment to Upgrade, Expand La Colorada Resource
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Resource Opportunities (12/29/2008)
Pediment has focused its efforts on its two main projects – the San Antonio gold project in Baja California Sur and the La Colorada gold-silver project in Sonora State, both in western Mexico. At San Antonio, an initial inferred resource estimate in June 2008 outlined 1.45 million ounces of gold in the Los Planes and Las Colinas zones of the property. Some recent holes drilled in the 500 meter zone that lies between the Los Planes and Las Colinas zones hit good gold mineralization, suggesting that there may be tonnage potential within that intervening zone. Drilling continues intended to upgrade and expand the resource. Pediment has contracted an engineering firm to begin work on an economic assessment for the project. Last year, Pediment acquired an option on the past-producing La Colorada project and has been steadily compiling the historic data that is available. The project has a historic resource in the range of 600,000 ounces of gold and Pediment hopes to upgrade and expand that resource. Pediment has $20 million in cash, which makes up two-thirds of its current market capitalization. The resources and expansion potential of San Antonio and La Colorada are being given little credit while the company's extensive list of additional exploration projects are being given zero value. The completion of an economic study for San Antonio should help investors appreciate the value of the company." |
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