My favorite penny silver is Cream Silver. It trades under the symbol CRMXF in U.S. and CMA.V in Canada. The President is a fellow named Frank Lang who is well known as a gold mine finder over the last 25 years.
Fact sheet
langmining.com
Old interview with Rick Rule, where they speculate on the possibility of 15 million tons of $100/ton rock:
langmining.com
<<Art: I just came back from the property and we had a very good look at it last week. We flew over all of it by helicopter. I visited remote areas at higher levels, above the road accessible levels I had observed earlier. We have two very important structures there along which are nine former silver producers. At the time they produced, at the turn of the century, they were mined from bonanza loads and they needed a minimum of 50 ounces per ton to survive. Some produced as high as 150 ounces to the ton from small bonanza loads that were within larger, lower grade zones that we are now aware of!
These two structures extend the full length of the property, 11 kilometers. The width is on the order of 25 meters in the areas we?ve seen it, with mineralized widths running about 10 meters. We trenched down to bedrock and we?re getting grades on the order of $100 U.S. to the ton, and in some places grades exceed that.
We?ve seen the zones continue through an elevation change of more than 3000 feet, so we can project enormous tonnage potential along the structure. What we have to do this year is drill off a significant portion of the structure to determine how much is mineralized.
Rick: So you suggest that you are going to drill enough holes this summer to confirm further results and outline enough resources, this season, so that people can develop present value calculations?
Art: That is our objective.
Rick: What is your goal for this season, in terms of tonnage and grade?
Art: I?d like to see us come up with enough intercepts that we can infer a geological resource on the order of 15,000,000 tons, plus at $100 rock. At least half of that value would be silver.
Rick: So you are talking 10 ounce silver?
Art: The "Silver Bear" zone is giving that up now. We got 11 ounces in trench samples and 200 meters away, on strike, they were shipping 50 ounce rock at the turn of the century. So the grade is there and the structure is there, we need to demonstrate that there is continuity to do tonnage projections.
Rick: Do you have enough time this season to delineate 15,000,000 tons? This seems like an unreasonable zone.
Art: We don?t think we can prove 15,000,000 tons this season, but we can test enough of the zone to infer 15,000,000 tons, and a reasonable inference of 15,000,000 tons of $100 rock, that $1,500,000,000 of material should excite the market, it excites me!>> |
