Hello Claude, I’m wondering if you follow Bear Creek Mining, BCM-TSX Venture. It has sort of an all-star cast with David Lowell as Chairman and Catherine McLeod-Seltzer as Vice-Chair and Director, David F. Volkert Vice-President, Exploration… It’s only been trading since earlier this year, but the stock has been weak recently after their disappointing first and second phase drilling results for their Estrella property. However they are drilling the promising looking Santa Rosa property now and it’s early exploration results look interesting (from the Bear Creek website www.bearcreekmining.com):
“To date, geologic mapping has identified at least 12 vein systems with an aggregate length of 6 kilometers. Small-scale mining conducted by the underlying claim owner currently produces 3 to 4 tonnes per day containing greater than one ounce per tonne gold from shallow pits and short adits. No exploration drilling has been performed in the district.
Surface sampling by Bear Creek along the principal vein results in a weighted average of 18.6 grams/tonne gold over a 1.0-meter width and a 1.5-kilometer strike length. High-grade assays of 230 g/t and 176 g/t gold, each over 0.8-meter exposed widths, are not included in the weighted average. In addition, samples from other parallel veins and vein splits on the property average 23.5 g/t gold. The mineralization in the system is exposed over 300 meters vertically. The shallow surface pits and short adits often do not expose the total width of the mineralized vein as the small miners are only focusing on the highest-grade portions of the veins. Systematic diamond core drilling and cross-cuts are necessary to establish the total mineralized width of the veins.”
The company has also acquired a silver property recently, optioned from Anglogold:
“In 2001, AngloGold drilled five widely spaced core holes totaling 861 meters, two of which showed high silver values. AngloGold elected to farm out a majority interest in the project when results of the program did not meet their gold threshold. Pending final board approval by AngloGold, anticipated in two weeks, the Ninobamba agreement will be in effect.
Geological work to date at Ninobamba has focused on an area of intense surface alteration, measuring approximately 400 by 500 meters, and mineralization is hosted in a Tertiary volcaniclastic unit within this zone. Bear Creek's near-term work, which will include 500 meters of core drilling, will test the continuity of the geology and mineralization between two AngloGold core holes, DDH-2 and DDH-4, drilled 500 meters apart on surface (see section and map at www.bearcreekmining.com). DDH-2 returned an assay of 87.0 grams of silver per tonne (gpt) over a drilled interval of 130 meters starting at a depth of 9 meters, and DDH-4 assayed 54.0 gpt silver for 96 meters beginning at a drilled depth of 23 meters. Bear Creek geologists believe that Ninobamba has potential to host a large, shallow, bulk tonnage silver deposit if mineralization proves to be continuous between these holes. Andy Swarthout, Bear Creek's President and CEO has thoroughly reviewed all of the technical data for the Ninobamba project and serves as Bear Creek's qualified person (QP) under the definitions of National Instrument 43-101 and Toronto Stock Exchange requirements.”
biz.yahoo.com
There’s plenty of shares out though considering it is only early exploration stage, but they have been active so far in their work programs. I own the stock and averaged down some today.
Issued and Outstanding 27,128,457 shares
Insider Holdings Principals 6,879,934 shares (25.4%) MK Gold 4,821,905 (17.8%) all with a 3 year pooling/escrow release
Fully Diluted 39,240,457 shares
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