High-Grade Gold (3.0 m of 39.2 g/t) and more on the way soon Damara are doing very well and the latest results must have surprised management as it is much bigger than they originally imagined it would turn out. The good part being that the newly discovered zone is still open in all directions and only 1/3 has been tested so far. Per the latest news release:
"Up to 20 km of untested strike will be sampled to the north of the Kodiak zone, south of the Main Zone, and between the two zones, to explore for additional high-grade orogenic gold veins" (Drilling at the Kodiak Zone tested 150 meters of strike. All holes intersected quartz-sulfide veining)
Damara's Placer Mountain is in close proximity to the Copper Mountain Mine and the Main Zone and Kodiak are only 2.5 km apart. Kodiak appears to be even more robust than the Main Zone and they have only just scratched the surface. Connecting these two zones would be nice, really nice....
Placer Mountain is also in close (70 km) proximity to Gold Mountain's ELK project and they must have noticed what's going on... taking a stake in Damara or a full take-out is a serious consideration. (The Elk Gold Project is currently in commercial production)
I don't think that the market has a clue that this is a new property and discovery as I don't think that the market has a clue as to how many more drill holes with good to great results are yet to be released. In this regard Damara is so undervalued with all these promising holes still pending.
Today's share price does not reflect the results from the current drill campaign of which only a few holes have been reported on. There is more to follow soon, real soon....
Holding with Confidence,
HTG