RE: Who is the next Canaco?I've mentioned Sidon International Resources (SD) as a potential candidate before. Like Canaco and many others in Tanzania their property has had many artisanal miners who have been finding gold for years and recently a minor gold rush was created when another area about 300 meters from the main mining site was discovered. Visible gold has been found. There is potential for placer mining an alluvial deposit and of course a drilling program for the source of these deposits. Currently grab samples are in the lab in Das Es Salaam and the results should be made public soon. Geological mapping is ongoing and well as road construction and site planning. A small pp of $1.2 million was fully subscribed. Management is restricted in what they can say by the TSX but it is understood that drilling will most likely start before year end.
I do not believe this is an area play. Work is being done and dollars are being spent. The mining licence has been applied for so now we wait to see what the ground turns up.