GREY:BYVVF - Post by User
Post by
RGS1on Sep 22, 2008 1:22pm
685 Views
Post# 15475159
Bayfeild Rainy and Burns Block
Bayfeild Rainy and Burns Block Recent drill results from the Burns Block (RR 60%), located approximately 300 metres east of the main 17 Zone mineralization, included 4.5 metres of 7.34 g/t Au at 500 metres downhole. To date, three holes have returned results at depth (>450 metres) in this area (the other two were 9.0 metres of 6.64 g/t Au and 10.5 metres of 2.83 g/t Au). The company is now calling this the 17 Zone East.
The Rainy River and Off Lake properties have strong speculative upside on a 12- to 18-month horizon for new discoveries, along with the potential for delineation of new gold resources in the area of existing mineralization. To account for resource expansion and
exploration discovery potential, we have assumed that exploration and development work over the next 12-18 months will outline up to an additional 500,000 ounces of gold in new discoveries and an additional 900,000 ounces of gold in resource expansion at existing mineralized areas.
exert from a Canaccord buy recommendation