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 >
F2 System Shows High-Grade to Southwest
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BARRY ALLAN, Mackie Research Capital Corp.
(09/15/2009)
Event—Excellent Intercept on SW Extension Release of a particularly good hole on the southwest extension—hole 122-10 intersected 13.7 g/t over 44.9 metres. This is one of the better holes drilled on the F2 system. Valuation—Improves with More Ounces Based on drilling to date, we estimate that the F2 Zone has resource potential (diluted to 2.0 metres and high-grades cut to 311 g/t) of approximately ~4.0 million ounces. Based on this resource potential and incremental ounces just added, we are moving our target price from C$4.30 to C$5.00. In our opinion, the summer drill campaign will in all probability continue to establish that the F2 Zone is in fact materially larger than what we previously believed (1.5 million ounces). Recommendation—Best-Of-Class Exploration Story Deposits in the Red Lake camp typically have a long vertical extent, reaching >2,500 metres in some cases. Hence, for F2 it is still early days and good additional drilling results are highly probable. We continue to recommend RMX as a BUY, and believe that RMX's discovery is in the early stages of being defined. |
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