"Kenrich-Eskay Mining Corp. Reports Discovery of Basalt-Magma Massive Sulphide Base Metal Host at Red Lightning Region of Corey Property in British Columbia

Kenrich-Eskay Mining Corp announced today the discovery of a basalt-magma type massive sulphide base metal region within the Red Lightning target area of their Corey property with significant copper-nickel-cobalt mineralization. So far in the 2008 drilling season, Kenrich has completed 7 holes at the Red Lightning (CR08-83 to -89) for 1,749.4 meters of total drilling." (8/12/08)
    -   BabyBulls.com

"This year promises to be something of a litmus test for Kenrich-Eskay Mining. The company has recently mobilized crews and equipment to the field on its two Eskay Creek projects (British Columbia), as per the company’s June 16 news release. The company continues to drill on its Babine Lake project, (also in B.C.) and is awaiting results from its first round of drilling.

The Corey and Eskay Projects (Stewart-Eskay Creek Camp)

KRE recently optioned St. Andrew Goldfields’ ground around the Eskay Creek mine (the Eskay Project). This makes KRE the largest landholder in the region, with over 79,400 hectares when combined with the original ground (Corey Project) 7 kilometres away from the mine.

According to the company’s website, “the Eskay Creek mine had produced 2.25 million ounces gold, and 104.7 million ounces silver (grading 1.50 ounces per tonne of gold and 68.3 ounces per tonne of silver). The Eskay Creek deposit also contains approx 3.2% Pb, 5.2% Zn, 0.7% Cu.”

The focus in 2008 at Corey will be on drill testing of massive sulphide targets in the eastern portion of the property. At Eskay, the focus will be on drilling the SIB claim block, which adjoins the southern end of Barrick’s ground.

Wally Boguski, the company’s president and CEO, told RI that the company’s “blue sky upside is tremendous.” He emphasized that Eskay Creek types of deposits form clusters, and that the company is well-positioned in regards to its “end goal of finding another Eskay Deposit.”

The Babs Property (Babine Lake Camp)

The company has recently begun drilling on the Babs project near the formerly producing Bell and Granisle copper mines at Babine Lake, about 76 kilmetres east of Smithers, British Columbia. The project area consists of 22,827 hectares.

The target of interest is a boulder train with host rocks similar to those at the Bell and Granisle copper mines. The company is currently drilling at Babs, and is awaiting drill results, which should be ready in about a month.

Valuation

History and recent developments make for a heady mixture in this case. Several factors suggest that the market could well see a breakout on this one soon:

A straight up formula - the company acquires strategic land positions close to major historic producers;

Good cash flow (C$3.5 million budgeted for this season’s drill program on the Corey project);Experienced management;

Paul McGuigan, the P.Geo in charge of the project has been working in the Eskay Creek area since 1979;

Recent optioning of St. Andrew Goldfields’ ground at Eskay Creek- making the company the largest landholder in the Eskay Creek area;

50% of KRE is institutionally held;Year-round work program now in place; Management is awaiting results from Babine Lake drilling;
Projects are well-serviced in terms infrastructure, the company can build on existing road networks;The stock has begun lifting off from its 5-year low;

The company’s three projects (the third being the Anyox (Coastal Copper Project) are all in B.C. - a region which is looking better and better to investors, given the wave of nationalization and exorbitant tax hikes we’re seeing in places such as Peru, the DRC, Zambia and Mongolia." (6/23/08)

    -   resourceinvestor.com

"Kenrich Eskay: The Company with some of the most prominent massive sulphide experts in the world (Paul McGuigan) has acquired significant new land positions in and around the Eskay Rift geology which produced the Eskay Creek mine. Last year the nearby Eskay Creek mine produced 68,000 ounces of gold. KRE stock is cheap at $.28 with an expanded property position inyyTwphant country and a team of top geologists." (5/27/08)
    -   Morning Notes, Michael A. Berry, Ph.D.

"I started working with Kenrich a couple of years ago. We flew up to see the famous Eskay Creek mine. On the 109th hole they found a mass of sulfide, and it was very rich. That mine just kept producing and producing many millions of ounces of gold and hundreds of millions of ounces of silver. And Kenrich-Eskay has all the properties maybe 10 kilometers south of the Eskay Creek Mine. There is a very famous guy—I think he's the best massive sulfide geologist in the world—named Paul J. McGuigan. His team has been on that now for five or six years, and they're teasing the sulfides out. They've had some massive sulfide discoveries; they still haven't hit the big one yet. The stock is very cheap. I am convinced that one day they're going to go out and drill into another Eskay Creek ore body. They've had a great track record. When you do discovery investing, you want to bet on the property itself and then the track record of the team that's managing it."(3/25/08)
    -   The Gold Report Interview with Michael A. Berry, Ph.D.

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