Eric,
I am not sure about the Windspear/Antleer situation I don't follow it cloosely enough yet. As for Franco-or here is the latest release and some comments.
FOR-T : Increases Gold Potential In French Guiana
Symbol: FOR U/FRORF
29Oct96 Market News Publishing Inc. 96/10/29 No:0013
FRANC OR RESOURCES CORP ("FOR-T;FRORF-L")
- Increases Gold Potential In French Guiana
Mr. Robert Casaceli, President, Franc-Or Resources Corporation
("Franc-Or") announces a new gold discovery at the Dagobert-T2 zone that
has the potential to add significantly to the resource base at the
Haute-Mana project in central French Guiana.
Newly discovered pyritic quartz vein and stockwork mineralization in
the Dagobert-T2 zone occurs in a fractured area that lies between two
parallel northwest-trending shear structures. Significant gold values in
excess of 1 g/t (0.03 oz/t), and locally up to 778.47 g/t (22.73 oz/t),
have been encountered in trenches and grab samples taken across *********************************************************************************
Trenches and grab samples are nice but they can also be notoriously unreliable. Grab samples are even worse. I would wait for drilling results before I got too excited here. Below there is mention of "...minerilazition is likely to be continuos across the Sophie, Salmon, Dagobert...over a strike distance of approximately 3 km..." This is all very nice but it could be wishful thinking and overly optimistic at the very least.
Only drilling will confirm or deny this hypothesis
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the
northwest-trending structural zones. These results indicate that gold
mineralization is likely to be continuous across the Sophie, Salomon,
Dagobert, and T2 prospects over a strike distance of approximately 3
kilometers.
Selected trench and surface grab sample results from Dagobert-T2 are
shown on the enclosed map, together with trench results from the Salomon
zone that were previously obtained by Franc-Or geologists. The best results
at Dagobert are from trench DaTR-1, which has 6.03 g/t (0.18 oz/t) Au over
63 meters, with individual assays from vertical channel samples across vein
traces as high as 153.57 g/t (4.48 oz/t) Au. This trench was cut sub
parallel to the NW-trending structural zone, but oblique to the
cross-cutting NS-trending fractures.
Dagobert-T2 is a raw discovery in a zone where the geological
understanding is preliminary. Nevertheless, from information currently
available, Franc-Or geologists believe that the potential mineralization at
Dagobert-T2 could exceed that of Nicole owing to the presence of
higher-grade primary sulfide mineralization. In an area measuring 1.2 km x
2.3 km that covers the main Dagobert zone and the west side of the T2
target, a total of 72 surface samples of quartz vein material have been
found to date and these contain an average grade of 33.2 g/t (0.5 oz/t) Au.
In addition, eleven of these samples average 208.48 g/t (6.09 oz/t) Au and
display a unique assemblage of sulfide minerals that implies an epithermal
(low temperature) origin, which indicates a large mineralized system.
Moreover, the presence of a complex variety of intrusive and extrusive
rocks suggest that an extinct volcanic crater may in part underlie a large
swamp in the main Dagobert zone. Such an environment would be highly
favorable for gold. Franc-Or's work to date on the Haute-Mana project
has concentrated on an eight kilometer long zone from the T1 prospect
southeast to the Repentir zone, and now, a three kilometer long trend from
the T2 prospect northwest to Sophie. Already, a gold camp with
multi-million ounce potential is emerging at Haute-Mana, with several sites
as likely candidates for mines. Ongoing exploration is designed to test
these zones with diamond drilling and additional trenching, both of which
will be expanded into the 4.5 km gap along the Sophie - Saul shear zone
between the T1 and T2 prospects, where virtually no exploration has been
carried-out to date. The possibility exists for nearly continuous gold
mineralization to be present across the entire 18 km strike length of the
shear zone between Sophie and Repentir.
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Generally it is too early to get really excited here. In looking at the chart I see a big move from $1.45 to $4.40. This will attract shorters and they will be in control until there is a fundamental change
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Tony |
