Gold Canyon Resources : Working on a 10M oz Monster in Red Lake
Insiders and Mgmt own 39%
Mgmt... 6%
Sprott... 20%
Pinetree... 13%
Some Springpole Facts
- Highly contiguous throughout the entire zone
- Consistently higher grades than historical plus silver
- Extended the strike to 950 meters
- Confirmed depth to 370 vertical meters
- Zone width averages 90 – 100 meters
- North end of the zone opens up to a 250 meter width at 300 meter depth
- Open pit style to potential scale of Newmont’s Twin Creeks in Nevada
- Soft and broken nature of mineralization point to good recoveries for milling
- Continuous mineralization points to very good throughput
- Deposit style points to low strip ratio.
- Underground potential similar to that of Agnico Eagle’s low cost Goldex mine in Quebec if mineralization extends to depth.
- New Resource Calculation and Feasibility Study
Reasons to invest…
- Significant resource increase… 3 to 5M ounces gold upcoming resource calculation
- Potential for >10M oz gold resource with Red Lake type depth potential.
- Over million shares of insider buys in November / another 500,000+ by Sheldon Inwantesh in December
- Winter program will add material value defining and adding ounces
- New resource calculation after winter drill program
- Pending prefeasibility study
- Potential excellent open pit / underground mine potential
- Deposit shows excellent continuity
- Increased gold grade at depth + silver credits
- Geological environment suggests underground depth potential in excess of 500 meters
- Geological environment suggests world class potential in the scale of Cripple Creek and Porgera. (30M ounce gold deposits)
- Proven mining district in Red Lake / Safe jurisdiction
- Project scope suggest dedicated processing facilities
- Well financed with a strong shareholder base
- Excellent management track with history of managing shareholder value.
- Management has a long history with company
- Insiders own 39% : Sprott 20% / Pinetree 13% / Management 6%
Gold Canyon Rates High as an Early Stage Development Story
Gold Canyon Rates High as an Early Stage Development Story
When looking at current projects to compare GCU. GCU compares favorably to other early stage development stories including low grade names such as Volta, Trelawney, and even East Asia Minerals when it was still early. Gold Canyon has a chance to rival Osisko’s Malartic in the long run. Gold Canyon has announced some of the best, most continuous results along a 1km strike from surface to depth that rival some of the best early stage low grade development projects in the world and at initial glance looks like it could be a low cost producer from both open pit and underground scenario’s for a years to come. Add the fact that it is in our own backyard in Red Lake, Ontario. This is one of the best development projects to come along in awhile.
Springpole shows the best potential for significant multi-million ounce expansion along strike and at depth because of the continuity of the mineralization and the type of geology demonstrated. Springpole so far is remarkably contiguous and will compare very favorably to these projects as a bulk tonnage open pit mining operation and will easily end up being a +100Mt project containing +5M ounces of gold.
The big prize is that Gold Canyon may be on a 10M oz deposit at depth which would mean Gold Canyon shareholders are sitting on what may be one of the most coveted prizes in the Canadian gold sector since Osisko and Rainy River. Both companies did it on their own because the majors didn’t believe… Will Gold Canyon be another Canadian in-house success story or will the majors wake up and realize the potential of these massive low grade projects?
Either way, Gold Canyon is set to develop one of the biggest gold projects in Canada.
Gold Canyon is rated as a strong buy at $2.15 and I am confident they will continue to deliver on their theories and demonstrate that Portage is indeed a World Class Deposit that will rival some of the best producing mines anywhere in Canada one day.
Christopher Skidmore
http://www.beatthemarketstockpicks.com/
ich hab auch keine einzige seriöse quelle gefunden, in der positiv über YNG berichtet wird!
habe bisher fast einen verdreifacher gelandet.