Ron Struthers is still hot on Asher Resources. His report sent out last week on Sept. 10, 2014. I include the whole report, so all can get his full perspective on the stock. I asked for and received permission to post the whole report here. His website can be found by searching for "playstocks" The bolded emphasis is in the report as received from Struthers.
TSXV:ACN OTC:ASRCF Recent Price $0.07
Entry Price $0.15 Opinion - buy
I suggested averaging down in ACN to $0.15, I am excited again about the up coming drill program
and think the stock is a good buy ahead of this. I really like this King property and Nevada and with the
knowledge they gained in the last drill program I see the odds much better for some very good results.
Here is some detail they announced for the next drill program.
A second phase of drilling has been approved and planned for Asher's King Mine project located in
Nevada. The program is designed to follow up gold intersections from the eastern gold zone
encountered in the initial 2013 program and to further evaluate a distinctive copper-gold porphyry
target.
The eastern gold zone, based on geological mapping, rock sampling with values up to 28 grams per
tonne gold, and a distinctive iron oxidation alteration anomaly and structure recognizable in satellite
imagery, is located over a length in excess of 600 metres trending in a northwest-southwest direction.
Two holes drilled on the north end of the zone in the 2013 program returned intersections of 3.72 g/t
Au over 7.62 metres and 3.26 g/t over 9.15 metres. Asher is planning 2 step out holes here – it is
assumed the last program only hit the edge of the Gold structure.
The bulk-tonnage copper-gold porphyry target and the recent technical review, combining the
geological, geochemical, alteration and geophysical data with the recent drill hole data, show a
previously untested porphyry target. The untested target is defined by a large magnetic low having
dimensions of 1,000 metres by 800 metres and is coincident with a well-defined structural zone, a
pyritic halo and significant alteration zone. The alteration zone is mainly phyllic; however, a heavily
altered outcrop was identified as a potassicly altered diorite in a petrographic analysis. The pyritic
halo, which was tested in the recently drilling, showed high levels of zinc and lead, which are often
associated with pyrite halos of porphyries.
An attempt was made in the recent drill program to test the northern end of the magnetic low with KM-
5; however, the hole was lost in a fault and well short of its intended target depth. This drill
hole, however, displayed increasing copper and molybdenum at the bottom of the hole, which
could be expected as one approaches a porphyry target, and provides strong evidence the
coincident data set could represent an as-yet-undrilled porphyry body.
Data from the ground magnetic survey have recently been reinterpreted with three-dimensional image
processing software (3-D IP). Horizontal depth slices from 50 metres to 500 metres show a
continuous, vertically extensive magnetic low, interpreted to be the central alteration zone within the
overall subcircular magnetic anomaly defined as the core of the porphyry system. Perturbations in the
imaging between depth slices suggest the potential of the influence of copper and gold mineralization.
Several drill holes are planned to test these potential mineralized irregularities.
If they hit this porphyry system in this drilling, these things are usually huge and will quickly
get attention of the majors in Nevada.
I think buying the stock at this level has no downside, and possibly enormous upside. An
exploration play like this, does not care about the Gold price, it is ether hit or miss.
You can see on the chart next page, we have a long term base built between mostly $0.06 to $0.10,
so a very solid base that should limit down side. A break above $0.12 would likely mean that we would
fill the gap from last year between $0.13 and $0.20.
[The chart is on the newsletter and I think it cannot be copied, but it shows a trading range between 6-11 cents, since about last January, 2014.] |
