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Bullboard - Stock Discussion Forum Queenston Mining Inc QNMNF

GREY:QNMNF - Post Discussion

Queenston Mining Inc > Monster 1.5 oz / Ton at Upper Canada over 18'
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Post by rbsanitation on Apr 11, 2012 11:19pm

Monster 1.5 oz / Ton at Upper Canada over 18'

Bonanza gold grades intersected 42.4 g/t Au at Upper Canada over 5.5 metres!  Yes, you are reading it correctly, at todays gold price of $1,650 per oz that is $2,475 gold per ton in this, a single drill core.  What isn't being reported?  AEM must be rubbing quarters together trying to come up with the funding and begin making up for their last two mine failures.  

KGI just took out Queenston with $60mm while buying less than 5g per ton from their 50/50 JV with QMI.  If KGI  instead had used their $60mm on this most recent find it would buy less than 25,000 tons of this Upper Canada gold ore bonanza on the 100% QMI claim.

The expansion of the future Queenston open pit and shaft mine is on while the share price is off at a 52 week low.  Some serious investment will land in KL one day and Queenston should get swallowed up.  PP47 keeps indicating that info is being witheld... makes me wonder who is holding this one down.

FYI

  • From 1911 through 1927 there were so many gold mines along a strip of land on the south shore of the lake that the area was called The Golden Mile. It is said that the streets of Kirkland Lake are paved with gold, and to some extent that's true.
  • A construction crew building the road was instructed to take material from a ballast rock pile. By mistake, they took material from an ore storage pile.
  • By the time the error was noticed the ore had been covered by concrete and its recovery wasn't worth the expense. 
  • are we about to see a repeat, we are listening PP47
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