Update on Tyler.............................
Just got a fax from Freddy Wynne (VP- Latin American division of Tyler). DIAMOND DRILLING UNDERWAY ON BAHUERACHI COPPER PROJECT IN MEXICO.
TYLER RESOURCES (OPERATOR) 50%
GOLDEN RULE RESOURCES LTD. 50%
Diamond Drilling has started on the Bahuerachi, copper oxide project owned equaly by Tyler and Golden Rule. A 15 hole drill campaign is underway to test the large copper oxide zone outlined by trenching and road cut sampling. The Bahuaerachi property is a 3285 hectare property located on the Reforma mineralized trend in southwestern Chihuahua, near the Sinaloa border.
The JV has channel sampled all the drill access roads on the Main Zone for a total of 221 samples representing 803 lineal metres...In this sampling, 134 samples from the Main Zone skarn averaged 1.33% copper. At Mina Mexicana, 10 continuous chip samples totalling 27.1 linear metres averaged 2.18% copper.
The objective of the next phase of the work is to develop a resource ofat least 15 million tons grading about 1.3% copper, which can be mined using low cost open-pit methods, followed by heap leaching and SX-EW processing to produce cathode copper.
The further exploration potential ofthe property is considered good as in addition to the copper oxide mineralization that outcrops, there are lead-zinc-silver skarn mineralizations at surface and some evidence ofcopper sulphide mineralization at depth that carries interesting GOLD and silver values.
In addition to being a fifty percent jv. participant in the Bahuerachi project, GNU owns 2,380,952 shares or about 8.28% of the issued common shares of Tyler.
Now, If only Tyler had 8.28% of the issued shares of GNU, then TYs wouldn't be sitting at 43 cents!
Technically, my AIQ software generated a double +90 Buy reading this past week (on a daily basis) with many momentum indicators (MACD, SK-SD, 21-DAY STOCHASTIC, MONEY FLOW INDICATOR, RSI) screaming for an oversold bounce to the upside. However, the weekly indicators show no trend! 100-day moving average still at 42.74 cents while the 100-week moving average at 40.50 cents(Big time support).
My feeling is that it should continue to bounce around in a narrow trading band next week.
Lastly, spoke to TYs IR last week, they confessed that the mineralization of their Mexican property adjacent to Morgain Minerals is completely different!!!!
TYS's Exotica property has a different copper mineralization then the neighbouring Morgain Minerals.Next, Weedy Lake is not in production thanx to the price of gold. Considering the amount of stock outstanding in TYS, IR dept. claims that it will be tough to take it over by Harper "and da 'boys"
Now, question for 'ya, what's the mineralization been with Morgain Minerals? High or Low grade? |
