The Major plus at Damoti was the 4,000 tons stockpiled on
surface @.64oz/t. Quest spent 2 1/2 mil for a 704 ft decline into Horseshoe gold zone. they wanted to check out some drill holes to see if they lived up to the drill results. they sure did.!!! Drill hole D94-87 was intersected on 275 level. it was 120 along strike and 9 to 12 ft wide. 1.013 oz/t.
the 275 north drift intersected a gold zone that is 1.79 oz/t.
This to me is the big news that will help get Damoti off the ground.
It has been opened up. !!!
I will try to get the wife to post the pictures of Damoti.
the lake looks like there is Fish there. look big to me.
Nice pict of entrance to Horseshoe, wife can do a better job on scanner.
So just take 4,000 tons on surface, ready to mill.!!!!
4,000 X, I will use .50 oz/t = 2,000 oz just laying there.
I will use 280 per oz US on figures. that's fair today.
2,000 X 280 = 560,000 in gold value , just sitting there.
like I say, the more you look into Standard, they do have asses. Quest had a lot of assets, and spent a lot of money.
Plus the zone is opened up to get at.!!!
the 1.79 oz/t is open to get at too, could you just figure what that would cost to open up now.??
again, I will leave it up to you to figure a value on Damoti.
So in total, we have Damoti and Zopilote.
current stock price to buy .20 U S. X 20 Mil outstanding =
Market Cap of 4 million.
If you want a hot stock try KNSC, if you want a long term gold speculation, SDMCF looks good to me.
All have a great weekend.
I can't wait till web site is up.
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High Grade Mineralization Confirmed at Damoti
Lake Project
RENO, NEVADA--Standard Mining Corp has completed the
underground drilling segment of its summer program at Damoti Lake,
north of Yellowknife in the Northwest Territories, Canada.
Twenty- three out of thirty-five underground drill holes
encountered mineralization in excess of 0.1 ounces of gold per
ton. The most notable drill hole, UGD96-31, encountered 28 feet
of 4.201 ounces of gold per ton. This interval, which far exceeds
a previous award winning intercept, included assays of 7.85, 12.10
and 27.22 ounces of gold per ton. In some drill holes, the
thicknesses as indicated in the following table represent the
additional extent of mineralization thickness beyond the walls of
a 10 ft. x 10 ft. drift which has already passed through the
mineralized zone. Based on these significant assay results Quest
is confident that the property, as explored to date, contains
greater than the 600,000 ounces of gold originally projected. |
