SKE.V
ONE OF THOSE NETOLIT - SKE MOMENTS ...
The current action in SKE has a lot to do with the fact that Viceroy Resources is getting sold in a stock deal to Yamana Gold (Aug. 16 release). At least that is my theory!
Ron Netolitzky is a major shareholder in both Viceroy VYE and SKEena SKE, and a director on both companies' boards. Ron co-discovered Eskay mine. He has credibility, he has connections, he has either money or very strong credit.
Now that he is done messing with Viceroy, why leave his little Ecuadorian SKE-baby languishing at c20 mm market cap now that he knows there's gold down there!!!
Looking at the world from the point of view of Viceroy magnates looking for new action, why not take a big chunk of this cheap SKE stock off the open market, and then come out with the new drill results, and then have the company raise its next round by hitting up the public at say, two or three bucks instead of a few cents???
We don't need to go looking for secret investors.
We've got a company that barely published an Aug. 21 press release about the incredible "1 by 2" trench and then watched as its stock take off like an Ecuadorian bunny.
$$$$$$$$$$$$$$$$$$$$$$$
THE TRENCH
FROM SEDAR (ALSO AVAILABLE ON RESOURCE INVESTOR DOT COM)
"SKEENA RESOURCES LIMITED
News Release-August 21, 2006
SKEena Trenching Results – El Corazon, Ecuador
SKEena Resources Limited (TSX.V: SKE) is pleased to report on the continuing program of trenching and
sampling on its El Corazon Project in northwest Ecuador. This work is a portion of the prioritization and
refinement of targets for the recently commenced diamond drill program.
At the 1 x 2 Trench., located approximately 310 metres northwest of the mine adit, a new zone of
argillically altered, limonitic and hematitic tuffs exhibiting weak quartz stockwork assayed 19.84 g/t Au
over 24.4 metres (including 58.51 g/t Au over 8.0 m, which in turn included 132.5 g/t Au over 2 m).
90 metres to the southeast of the 1x2 Trench, at the 2x2 Trench, two anomalous zones were exposed. The
western portion of this trench assayed 0.75 g/t Au over 6.2 metres while the eastern sector assayed 2.94 g/t
Au over 42.0 metres (including 11.3 g/t Au over 2.0 m). A significant portion of this trench consists of a
sequence of veined and silicified tuffs similar to those discovered in the highly anomalous SKE-019
Drainage System as previously reported in the July 17, 2006 SKEena Press Release..
Trenching results at the Platanal Zone did not confirm the historic sampling results and the proposed drill
test of this area has been deferred.
The 2006 drill program commenced on August 16th . Both the 1x2 and the 2x2 trenches will be further
investigated as part of this program. Two drill holes were completed on these targets by a prior operator. At
the 1x2 trench, a short vertical hole appears to have missed the mineralized sequence by being located in the
footwall of the zone. At the 2x2 trench, a single drill hole apparently terminated short of the mineralized
zone.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED
“Ron Netolitzky”
Ron Netolitzky, Director
$$$$$$$$$$$$$$$$$$$$$$$$$$
FROM THE YAMANA SITE
Ronald K. Netolitzky
Position: Chairman & Director
Ronald K. Netolitzky has extensive experience in mineral exploration, having achieved exploration success on three major gold deposits which have subsequently been put into production: the Snip, Eskay Creek and Brewery Creek mines. Mr. Netolitzky holds a Bachelor of Science degree from the University of Alberta and a Master of Science degree from the University of Calgary, both in Geology. He was previously Chairman of Viceroy Resource Corporation (now Quest Capital Corp.) and has served formerly as its President. He is also the former Chair of both Loki Gold Corporation and Baja Gold Inc.
Message 22775885
A guy over on SW says he got Skeena boss man Rupert Allan on the phone today Sept. 1, and provided the following report.
Allowing for some needed bluffing by Allan about the stock action this morning, I think you can read between the lines and see some semblance of what is happening.
It sounds to me like skeena was late getting a drill going this summer because of envirommental concerns, is finally drilling, and is finding what the so called 1 by 2 trench already showed -- good stuff, maybe thick enough to see in the core.
I quote report below:
"Just got off the phone with Rupert Allen Posted By: mrflick
Post Time: 9/1/2006 12:01
...SKE's IR guy has this week off to prepare for a busy September.
He was telling me that the increase volume is probably due to SKE being at a recent confrence held in Chicago and presentation made by Ron Middlinsky. Many large investors and newswriters were there and are concidering Ecuador "The Flavor of the Month" i.e. the best place to be for finding high yield gold mineralization.
Compared to Dynasty & AUR, SKE has been slow off the mark due to shortages of rigs and workers in the area; however, right now they have a manned portable hydrolic rig working away on 6 holes that can effectivly reach 250M with minimum impact to the enviroment.
IM is having problems from enviromental activists due to buldozing jungle for their larger 900M rigs to move into drilling locations.
This drilling program should see spectacular core results in around three weeks time.
From the horse's mouth.
Flicky
END OF QUOTE
OK, enough of that. Here is the press release of Aug. 21 2006, which RR has already quoted from.
I think it is worth repeating in light of this week's HUGE runup in the stock. Take note of the fact that the "1 by 2" trench, which is new ground for Skeena, included a sample of 132.5 g/t Au over 2 meters. That is four ounce per ton gold lying on the ground! Not too hard to guess where that pint-sized drill was set up first, right?
"News Release-August 21, 2006
Skeena Resources Limited (TSX.V: SKE) is pleased to report on the continuing program of trenching and sampling on its El Corazon Project in northwest Ecuador. This work is a portion of the prioritization and refinement of targets for the recently commenced diamond drill program.
At the 1 x 2 Trench., located approximately 310 metres northwest of the mine adit, a new zone of argillically altered, limonitic and hematitic tuffs exhibiting weak quartz stockwork assayed 19.84 g/t Au over 24.4 metres (including 58.51 g/t Au over 8.0 m, which in turn included 132.5 g/t Au over 2 m).
90 metres to the southeast of the 1x2 Trench, at the 2x2 Trench, two anomalous zones were exposed. The western portion of this trench assayed 0.75 g/t Au over 6.2 metres while the eastern sector assayed 2.94 g/t Au over 42.0 metres (including 11.3 g/t Au over 2.0 m). A significant portion of this trench consists of a sequence of veined and silicified tuffs similar to those discovered in the highly anomalous SKE-019 Drainage System as previously reported in the July 17, 2006 Skeena Press Release.
Trenching results at the Platanal Zone did not confirm the historic sampling results and the proposed drill test of this area has been deferred.
The 2006 drill program commenced on August 16th. Both the 1x2 and the 2x2 trenches will be further investigated as part of this program. Two drill holes were completed on these targets by a prior operator. At the 1x2 trench, a short vertical hole appears to have missed the mineralized sequence by being located in the footwall of the zone. At the 2x2 trench, a single drill hole apparently terminated short of the mineralized zone.
The Qualified Person, as defined by National Instrument 43-101, responsible for the onsite management of the exploration program at the property and the review of this news release is David F. Reid, P. Geo. -Project Manager.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SKEENA RESOURCES LIMITED
"Ron Netolitzky"
Ron Netolitzky, Director
Message 22774978
KEYWORD:
CRACKER |
