BAND-ORE Resourses Ltd,(BAN - TSE)
Canadian Company developing gold resource on its 100% interest 6,000 acre Thorne Property located within Timmins city limits.
Property situated north of the Destor Porcupine Fault Zone in simular geological environment to many famous mines in the Timmins camp where over 60,000,000 ounces of gold produced. (over $30 billion at current prices).
Gold minerization intersected in over 200 drill holes in the Golden River Zone. This zone has a drill indicated strike lenght of 5.2 km where two significant gold bearing resources are being outlined. Gold mineralization has been intersected in widths varying from 1.5 metres to over 100 metres. Grades vary from 0.04 to over 2 oz/ton within the zones. Visible gold also encountered in numerous drill holes across the property.
Assaying for gold has been completed using accepted standards according to Canadian regulatory authorities. Core split, half retained for assay verification, assays completed by reputable Canadian lab (Swastika), Check assays performed by second independent lab.
Strong board of directors- Peter Crossgrove, Thor Eaton, James Connacher, Richard Hughes, Bruce Durham, Bob Duess, Wayne O,Conner to name a few. All are shareholders of the company.
Well Financed with over $5 million in treasury.
24 million shares outstanding fully diluted.
Exploration plan supervised by Bruce Durham (discoveries include Bell Creek Mine and Hemlo) includes:
-6 drill rigs operating 24 hours per day producing approx. 1800 ft of core daily. Outlining reserve on two zones (potential for multimillion ounces) plus drilling of IP targets to enhance shareholder value.
-Kilborne hired to complete an independent ore resource calculation. (hired prior to the BXM situation) results should be available soon.
-Agra hired to complete permitting for underground bulk sampling program to be conducted this summer.
-program designed to outline a bulk tonnage open pit mine. Most drilling has been done to the 100m level, however a number of drill holes has intersected gold to 300m vertically. Typically, mining in the Timmins camp is at the 1500m plus level, therefore huge potential to greatly increase reserves with a deep drilling program. This will likely be done during break-up.
Look at SI Thread and Website:www.band-ore.com for additional information. Also contact Wayne O'Conner President or Jonathan Armes IR at (416)365-0811
This company is well positioned to take advantage of newly found interest in Canadian Mining Companies as a result of the Bre-X situation. The company is developing this property and reporting the data in compliance to the new TSE Listing and Reporting regulation. I feel this company is still a take over target once a sizable resource has been shored up. 52 week high and low $13.85 - $4.25. Currently trading at $4.65 close to its 52 week low with the rest of Gold stocks. Good time to buy gold stocks.
Money from Band-Ore will come due to a number of factors:
Reporting of ORE RESERVE - hopefully by June 97
Positive Drill Results- results from up to 40 holes due out this week
Fund Support - meeting with institutions on-going
Take - Over Target (still a number of tire kickers watching the company)
It would be very wise for those reading this post to conduct own DD. This post has been presented by a shareholder (not an insider)that believes very strongly in the company, management and the excellent potential for this property to contain many million oz. of gold. I believe the gold market will turn around in the very near future and BAND-ORE is a stock with excellent value at current price. The shares have been recommended by Barry Allen (Gordon Capital) and John Ing (Maison Placements Canada).
Wishing All The Best. |
