Some late breaking news of possible interest to KRY shareholders:
Antares Mining and Exploration (ANZ.T) reported in a news release just prior to the Friday, November 28, 1997 close giving a resource estimate from the 1997 drilling program on the Ojolali property in Sumatra, Indonesia. They estimate 1/2 million ounces of gold equivalents on the two zones drilled, since the program began last May. There is very high silver content in many of the assays. See the news release at:
Message 2833917
This is terrific news when you consider that they've reported this quantity for only two zones that are partially explored. I fully expect they will exceed Barrick's 1996 rumored estimates of 12,000,000 ounces in the Ojolali, after the other zones are fully probed. About three dozen prospective sites have been identified in the Ojolali.
Antares owns a much larger parcel of property surrounding the Ojolali, having an area of 29,700 hectares which is also believed to host similar mineralization. The entire Indonesian prospect could very well have the potential for becoming a very rich gold/silver mine. The anticipated recovery technology, heap leach mining, is quite inexspensive in Indonesia and will allow for profitable production even though world gold prices have dropped recently.
Antares will also have an annual audit performed by Stratcona Minerals each year, so don't let it be tarred in your mind by the Bre-X brush. Their findings must withstand examination by this highly respected organization.
Although today's news is enough to excite many about Antares' prospects, one must also consider the company also has an interest in another prospective property in North Central British Columbia, known as the Toodoggone. News is expected soon announcing the results of a summer/fall drill program on this property. Antares will hold a majority interest in the Toodoggone once they've "earned-in" their interest with the present owner, AGC Gold. The AGC news release is expected out in early December - perhaps next week.
AGC Investor Relations is keeping this one close to the vest of late, so my feeling is that they might also have something pretty significant to report as well.
I know many of you believe in your present company, Crystallex, as perhaps the only gold play you want to consider, but don't overlook little Antares, which closed at 41 cents a share today. There is tremendous potential for upside movement and one KRY share will buy 14 Antares shares. Great leverage here!
Best,
Don DeKold
|
