EC... just checking the Stockhouse board. Not much pumping there but it sure looks like an interesting play.
stockhouse.com
Analysis of EC's Jumbo moves
This is an academic review of what contributed to the jumbo stock moves in Ecometals, not a trip down memory lane. While some of the most prominently discussed NRs are the Rio Zarza acquisition near FDN (July 12, 2006) and the 502 meter intercept (Dec 12, 2006), these are NOT what contributed to EC’s largest upward moves in stock price.
The two jumbo moves that are obvious on the charts are related to thick intercepts of very high grade gold, notably May 31, 2006 and Sept 21, 2006.
The Rio Zarza acquisition on July 12, 2006 was welcome news but it only accounted for a temporary bump in the stock price (from $3.50 to $4.25), as did other announcements appended below. Ecometals chart ran into technical exhaustion, coupled with gold’s consolidation in late 2006 trough 2007. Correa election victory in late 2006 also put a damper on share prices, and the moratorium simply crushed the stock. Meanwhile Brazil remained a mess.
As drilling is on the horizon once again in Ecuador, we can start considering the impact of additional high grade, thick intercepts at Condor and Rio Zarza through the lens of Ecuador’s new rules of the road and EC share structure which is currently much tighter than 2006. An important milestone will be logging sales this quarter in Brazil.
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GOLDMARCA DRILLING HITS BONANZA ZONE AT THE CONDOR GOLD PROJECT
ECUADOR INTERSECTING 48 METRES OF 16.7 GRAMS PER TONNE OF GOLD AND 7
OUNCES PER TONNE OF SILVER AND 56 METRES OF 3.5 GRAMS PER TONNE OF GOLD
AND 1.7 OUNCES PER TONNE OF SILVER
PANAMA MAY 31 2006: Goldmarca Limited (TSX-V:GML) is pleased to announce that at the Condor Gold Project in Ecuador, drilling has intersected a gold bonanza zone of 48 metres of 16.7 g/ t gold and 7 ozs per tonne of silver in hole 31 and 56 metres of 3.5 g/t gold and 2 ozs of silver in hole 30. Intercepts of note are summarised in Table 1 below. True widths are estimated to be approximately to 40% to 80% of these drill intercepts depending on the azimuth and dip. Results from the first 31 holes from the Enma Sector are attached in Table 2 and located in Figures 1 and 2 attached.
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GOLDMARCA ACQUIRES PROPERTY 300 METRES WEST OF AURELIAN DISCOVERY
PANAMA JULY 12 2006: Goldmarca Limited (TSX-V:GML) is pleased to announce the signing of two option agreements to acquire 100% of concessions covering 7805 hectares in the Condor Gold Belt Ecuador. See Figure
1 attached.
*****
GOLDMARCA DRILLING HITS HIGH GRADE ZONE AT THE CONDOR GOLD PROJECT
ECUADOR INTERSECTING 24 METRES OF 12.6 GRAMS PER TONNE OF GOLD
PANAMA AUGUST 21 2006: Goldmarca Limited (TSX-V:GML) is pleased to announce that at the Condor Gold Project in Ecuador, drilling has intersected another high gold zone of 24 meters of 12.6 g/ t gold in hole DEN 34 and 58 meters of 3 g/t gold in hole DCU18. Particularly encouraging was the intercept of 80 meters of 5 g/t gold in Hole 34 and the intersection of a wide disseminated gold zone in Hole DCU 18 of 378 meters of 1 g/t gold. Intercepts of note are summarised in Table 1 below. True widths are estimated to be approximately to 60 to 80% of these drill intercepts depending on the azimuth and dip. Complete results from six holes are attached in Table 2 and located in Figures 1 and 2.
*****
GOLDMARCA DRILLING HITS HIGH GRADE ZONE AT THE CONDOR GOLD PROJECT
ECUADOR INTERSECTING 284 METRES OF METRES OF 2.75 GRAMS PER TONNE OF GOLD INCLUDING AN INTERCEPT OF 98 METRES OF 6.05 GRAMS PER TONNE OF GOLD PANAMA September 21 2006: Goldmarca Limited (TSX-V:GML) is pleased to announce that at Condor Gold Project in Ecuador, drill hole has intersected a high grade gold zone in the Los Cuyes sector of 308 METRES OF 2.57 GRAMS PER TONNE GOLD including 284 metres of 2.75 grams per tonne gold including 98 metres of 6.05 grams per tonne gold and 24 metres of 12.7 grams per tonne gold, 72.9 grams per tonne silver and 4.1% zinc. See Table 1 below and Figure 1 attached. True width is estimated to be approximately to 60 % of the drill intercepts.
*****
GOLDMARCA DRILLING EXTENDS GOLD MINERALISATION AT CONDOR GOLD PROJECT SECTOR SOLEDAD BRECCIA INTERSECTING 254 METRES OF 1.5 GRAMS PER TONNE GOLD PANAMA November 10 2006: Goldmarca Limited (TSX-V:GML) is pleased to announce that at Condor Gold Project in Ecuador, a vertical drill hole DSO-01 from the surface has intersected a disseminated gold zone in the Soledad sector of 400 metres of 1.0 grams per tonne including including 254 metres of 1.5 grams per tonne gold. See TABLE 1 below and Figure 1 attached.
These intercepts represent the depth of mineralization from the surface of the Soledad breccia system either pipe like or a contact zone. The intercepts extend the depth of the known gold mineralization from 141 metres (TVX 2000) to 400 metres or some 260 metres´ extension. TVX intersected in drill hole DD081 141.4 metres 1.8 grams per tonne gold, 15.1 grams per tonne silver and 0.67% zinc. These assay results correlate well with the assays results from Goldmarca drill hole DSO-01 which assayed over 142 metres 1.7 grams per tonne gold, 15 grams per tonne silver and 0.73% Zinc.
*****
Goldmarca In-Fill Drilling Extends Gold Mineralization at Condor Gold
Project at the Los Cuyes Sector Intersecting 502 Metres of 0.94 Grams
Per Tonne Gold
December 12, 2006 – Panama City, Republic of Panama -- Goldmarca Limited (“Goldmarca”)
[TSX.V: GML] is pleased to announce that at Condor Gold Project in Ecuador, a vertical drill hole DCU-22 from the surface has intersected a disseminated gold zone in the Los Cuyes sector of 502 metres of 0.94 grams per tonne gold including 138 metres of 2 grams per tonne gold (see Table 1 below and Figure 1 attached). |
