Sadah Exploration LicenceThe latest news release on the recent analysis of sampling from the Al Masna project must be viewed as a positive in my opinion. It is now demonstrable that mineralization now extends for more than 3.3 km and is open to the north and added to that there is a possible parallel zone of mineralization 1.5kms to the northeast! This just announced further prospect is in addition to the Al Fayd gold prospect - also located in the Sadah Mineral Exploration Licence Area. Al Fayd is located to the NORTHWEST of Al Masna.
Now, it would not surprise me to see found at a later date, that the Sadah Exploration Licence has some other anomalies which might prove commercially viable and will need to be further investigated. What are the odds? I am sure many juniors would like to have prospect such as the Sadah Licence.
A quick comparison of logistics of Wadi Qutabah vs. Al Masna must also be seen as a positive. Facts point to development of Al Masna first. The population density is much higher at Wadi Qutabah and it was people problems that were at the heart of Falconbridge’s troubles or perhaps more accurately, trepidation at Suwar. Al Masna with its lighter density population and milder citizenry should prove much easier to manage at this point in time than either Suwar or Wadi Qutabah. Second, access and mobilization at Al Masna will be vastly easier. Whereas one has to drop about 1000 meters (3000ft) to get access to the wadi floor at Wadi Qutabah and much of the mineralization is banded along this steep wadi wall.At Al Masna elevation change is about one-tenth of Wadi Qutabah and the major obstructions are the gossans dotting the landscape like haystacks. A good description of the decent into Wadi Qutabah via four wheel drive Land Cruisers is found in chapter 4 of Larry Frolick’s book Ten Thousand Scorpions – not a drive for the faint of heart flatlanders!
A third positive is acknowledgement of the proposed zinc mine by the London group.Their deposit sits literally next door to part of the CMMY concession that has revealed some interesting anomalies itself for lead and zinc. The London group reports that this deposit should be among the lowest cost zinc producers in the world using cutting edge processing technology, even with today’s 34cent zinc prices. No wonder TeckCominco is in for part of the action! Yes, I can verify that Yemen is open for business in the mineral and oil sectors.
Of course negatively, it will take more funds to fully complete the geophysics and drill up any encouraging results probably more that the $400K on hand but it will certainly provide a good start. The share price will recover but not until further exploration work is carried out with positive results. As well, as has been pointed out, the News Release was hush about any further JV negotiations, but as with all things Cantex, I am sure now that the information locks have been opened ever so slightly that bit of news will come as a surprise to. In Chuck’s due time.
P10