KIBBLES & BITTS!!!Food for thought.
In no particular order.
***BIG BERTHA
This bigger drill rig has the capacity to drill down to 1,000 meters.
The other three smaller drill rigs are more limited in their capabilities, and can only drill down to a depth of
300 to 350 meters. Since all of the cores that these 3 rigs have drilled ended up in gold and silver
mineralization, it was obvious that Big Bertha was urgently needed to test for DEPTH.
In a previous fall News Release, it was stated that Big Bertha had been ordered, and that she would probably
be on site AFTER the Spring Melt.
Like I keep saying, encouraged by the excellent results of the early winter drilling programme and the fact that
it indicated that Quinton's theory on his model for Springpole and the Portage Zone in particular was correct,
GCU decided to "fast-track" the work and drilling at Springpole.
It all makes logical sense, because then the winter ICE road could be used to simply truck Big Bertha right
in to the site in one piece so that Big Bertha would arrive all set and ready to go---ie. to start
drilling right away. This was thus far easier & cheaper than the alternative of flying Big Bertha in, if in fact that
was even possible. It would also save great delays in time.
In fact, Big Bertha has probably been drilling for NINE days already, 24 hours a day, 7 days a week.
Congratulations, and good luck with your "new toy" Alan Roberts!
***THE TWO RONNIES
Two Barges were also ordered, and rushed to the site, again as qui8ckly as possible, so that the ICE Road
could be easily utilized.
These barges were required because the infill drilling out over the lake was going much slower than had been originally expected due to the fact that the ground material under the lake was softer and looser that as first
thought---and because the drilling rigs were using larger diameter drill bits which enhanced increased
gold and silver grades when assayed. These facts necessitated that the drilling had to be done more
carefully---ie. drilled at a slower rate.
The 10,000 meter planned winter drill programme was needed to complete the "GRID WORK" so that the
results could be used in the upcoming NEW NI 43-101, and it was now obvious this just wasn't going to
happen & be completed before the Spring Melt.
To complete this important infill drilling, GCU would have to continue this drilling out down througth the lake
in the Spring & Summer, which would be IMPOSSIBLE to do with the ice gone---and thus it would have meant
waiting a FULL YEAR, until next winter when the ice would again freeze over the lake! PROBLEM SOLVED!
That's why the barges were quickly ordered, custom built in Ottawa (closest place) and rushed to the site.
I don't think that this was planned & budgeted for last Fall, when the winter drill programme was formulated.
Once again, more and added expenses.
With the 2 barges in place, GCU can now continue to infill drill down from out on the lake SPRING, SUMMER,
and FALL, if necessary. Also, this "barge drilling" is more expensive compared to drilling out on the ice
during the winter. Yes more unforseen expenses, which just keep adding up!
So this infill drilling now has also been "fast-tracked" at "whatever the cost". Time is money, but the "GRID
WORK", every 50 by 50 meters MUST get done!
***THE MATH DON't ADD UP!
Let's review the situation now.
We have TWO barges--the "two Ronnies. We have FOUR drill rigs (the original shallow drilling 3, PLUS
Big Bertha-----BUT----experienced labour is now the problem! Yes, we have a very good, but over-workrd,
drill staff, but the same number of men on the drill team---to do even MORE work, as the drilling continues
at the same pace, 24-7.
Even using the "new math", this just doesn't add up! Something has to give!!! What??
I believe that one of the original 3 shallow drilling rigs will be shelved---ie. retired!!!
This makes sense, as only 2 can drill, one per barge, out on the lake.
To me, it would be useless to use the third rig to continue step-out drilling, because the shallow holes would only
have to be redrilled by the deeper drilling BIG BERTHA anyways to prove up the depth. Why drill twice?
Think about it----BIG BERTHA has to drill down through and past the 300-350 meters anway to drill deeper
down to 1,000 meters or so, to test for DEPTH!!!
***THE BUTT SISTERS!!!
Now this is totally UNFOUNDED, and exprapolated by ME and ME ONLY. Ready OR not, here I GO!
IF I were a betting man, and I am, I would wager that BIG BERTHA will soon have a twin. This just, to me,
makes just too much sense. In fact another one may have been already ordered---I would have---by
GCU, and the sooner the better. GCU will need to INFILL DRILL between the step-out drill holes currently
being drilled further & further OUT than what was originally planned for. IE. TEN HOLES each 50 meters
apart which would have meant another 500 meters added, if successful, to the STRIKE LENGTH of the
Portage Zone as drilling continues out to the SOUTH-EAST!
That is the ONLY WAY, as I see it, to ADD INDICATED ounces in the upcoming, now DELAYED until the FALL--probably not until September OR October, NI 43-101.
If the "step-out GRID" (every 50 meters, so we are told), is NOT DONE----then ALL of these "new found"
step-out ounces of gold & hopefully silver, don't forget the silver, will by definition, I believe, HAVE to be
INCLUDED in the UPCOMING NI 43-101 as INFERRED OUNCES.
You certainly don't get as much credit and value for ounces in the INFERRED CATEGORY, as you do in the INDICATED CATEGORY---in fact FAR LESS---that is why one must drill a "GRID".
Quinton, of course, knows this, and I believe he has a plan for it.
This, I think, was a mistake that was made by TRR---Trelawny---BUT remember that I am NOT a GEOLOGIST!!!
TRR, in MY opinion, did not do enough "infill grid drilling" work before their recent NI 43-101 was done.
YES, they prove up 4.2 MILLION ounces of gold---which is great---BUT---ALL of those OUNCES, I think, thus
had to be, and were included ONLY in the INFERRED CATEGORY.!!!
I of course, CAN be absolutely 100% wrong!
I'm NOT trying to put down the accomplishments of TRR. I don't know, MAYBE they didn't have enough time
or there was some other reason---whatever!!! More on that later.
I'll even go one further, wilst I'm at it----I would like to BET that the BUTT SISTER has already been ordered.
***YEAR ROUND DRILLING
Like I keep saying, there is no doubt Springpole is being fast-tracked. Quinton is a very, very smart, respected,
& much sought after geologist. He is very excited about the prospects of Springpole and believe you me,
he has a plan both SHORT, MEDIUM, and LONG TERM---BIG PLANS!
HE has the wealth of experience, wisdom, foresight, AND a DREAM with BIG PLANS---he just can't wait
to continue.
I also think that the delay caused by slow, over the lake infill drilling, and resultant delay of doing the NI 43-101
also influenced, facilitated, and allowed him the time to do much further out step-out drilling than was
previously planned.
Hence the rather abrupt, and officially unannounced, change in the drillig philosophy. He now has the time
to not only do this, BUT also the time to INFILL the large step-out holes currently being drilled.
This will be even better enhanced if GCU gets a SISTER for BIG BERTHA.
***THE NI 43-101
The qualified guy (or company) has already been hired to do it. This a long, detailed, time consuming
important, independant, and highly regulated body of work. Oh yes, and expensive to do---money, money,
money again.
So, why not really do it right, and get as many ounces in as possible----perferredly in the INDICATED and
NOT the INFERRED CATEGORY.
In other words, get the most out of it for the money going to be spent---it is not like you just do a NI 43-101
every SIX MONTHS or SO!!!!!
It just makes so much logical sense to me, BUT REMEMBER----that is ME and MY extrapoluating thought
process---I can be wrong.
***TSE EXCHANGE LISTING
Expensive, but that would really be nice. With continued success, this will probably happen sometime
in the future. For many reasons, it would surely enhance GCU's share price quite a bit.
AND, I believe----
It is absolutely NO CO-INCIDENCE, whatsoever, that one of the many requirements for this to actually
happen, is for GCU to have completed a NI 43-101---surprise, surprise!!! And hopefully a GREAT ONE.
***IS THERE A PROBLEM BECAUSE OF THE LAKE?
GCU has really looked into this and says that there would be an added minor cost---campared to NOT
having a Lake, BUT that is NOT a big problem. More assuring, is that other institutions like FRASER
MACKENZIE concur with GCU, as pointed out in their indepth research and report when they officially
initiated coverage of GCU last Nov., and with a very strong BUY RECOMMENDATION. They have TWICE since
then, increased their target price on GCU.
It seems that SPROTT, GMP, PINETREE CAPITAL, (and other analysts) also agree with GCU.
Certainly, not to be left out is SHELDON "NEVERWASH". Oh yes, I would be in remiss if I didn't include
my "buddy' SCOUTAZ in ARIZONA USA---which means by the way, that it is now international!
Don't just believe me. Read the bullboards here, the insider trading records, and of course the articles
many of which have been liberated and copied and posted on this site.
Action is louder than words----all of the aforementioned have purchased and own GCU shares
BIG TIME!!!!!
Springpole Lake is in fact very very shallow----I THINK our Govourment should rename it
"GOLDEN POND"-----that would be MUCH more APPROPRIATE!!!!!
The more I think about it, have you ever noticed how many MINES and GOLD PROPERTIES up
there in the region have the word "LAKE" in their names! Even Red Lake for example---surprise,
surprise!!!
***FINANCING
It WILL COME as not only the costs are mounting & quickly rising, but the amount of work and drilling
has increased significantly---ever expanding as the property is fast-tracked.
The FINANCING game has probably already begun.
This time though, GCU is in a much better position than when the last financing took place. Demand
and interest in GCU has really increased significantly---so has the share price of GCU!
Let's see now-----
The HIGHER the share price---then---
The LESSER number of SHARES have to be included in the PRIVATE PLACEMENT to raise the
same amount of money required by GCU for operations---This BY DEFINITION as
per Barn Breath Math 101---which ALSO by definition MEANS---
The LESSER NUMBER OF WARRANTS that will have to be issued, and they too will be at a MUCH
HIGHER exercise price than the last time. This will put MORE money into GCU's
coffers when they are exercised---because hopefully by then GCU's share price will
be again much higher by then. (ie. the exercise date)---which means----
FURTHER DOWN THE ROAD, if necessary, lesser money will be required because of the
significant money coming in when these warrants are exercised!
TOTAL OVER EFFECT & RESULT---THERE WILL BE A LOT LESS STOCK DILUTION than caused
by previous Private Placements and correspondingly, lesser "damage" and "threat"
'to GCU's share price dropping when these "new" warrants are eventually exercised!
THIS PEOPLE IS ALL GOOD STUFF FOR CURRENT GCU SHAREHOLDERS!!!
How do you get A HIGHER SHARE PRICE in the FUTURE? It follows quite logically.
The more money raised, the more work and drilling that can be done. The more
drilling, the more ounces of gold & silver are added!!!
In a sense it is a RACE AGAINST the CLOCK so to speak----to get a higher share price, before
GCU has to do the FINANCING.
Let me reiterate that GCU is in a MUCH better position to NEGOTIATE the financing terms this time
around compared to previously.
***DON'T FORGET ABOUT THE SILVER!!!
It has been stated in previous NRs that Springpole also has a comparitively high ratio of silver to gold.
This is excellent news because it just adds "BONUS" value to GCU.
What I don't know is why the drill cores have to be assayed again, after they have been assayed for
gold, to get the SILVER GRADES! Obviously there is an excellent reason---it would have been great
if one assay test could provide BOTH!! Apparently NOT. However; because the silver grades have
been proven to be very significant, REST ASSURED that GCU hasn't forgotten, and I'm sure the cores
WILL be asent back to the assay lab to test for the SILVER. Therefore we can expect more News Releases in the
future. Hey, the more the MERRIER!!!! The story JUST KEEPS GETTING BETTER & BETTER!!!!
***NEW ALL TIME HIGH PRICE FOR GOLD
This was achieved late this past week. The price of SILVER ain't too shabby either.
Moreover, most experts think the prices for BOTH will continue to RISE---WE ARE STILL in a PRECIOUS
METALS (and Commodities') BULL MARKET. The timing COULDN'T BE BETTER for GCU.
HANG ON people, we are in for a GREAT RIDE, which doesn't come along very often. Hopefully lots
more good drill results THIS WEEK!!! Scoutaz PROMISED us with his "FAMOUS" TWO WEEK THEORY!!!
Well, that's it for now---however---I have a LOT MORE KIBBLES & BITTS for you. I will have to do a
PART II.
I trust that you find this interesting---If so, just click the Ignore Button.
DISCLAIMER: These ramblings are MINE, and MY RAMBLINGS ONLY
I am NOT an RXPERT in ANYTHING, and I can be 100% WRONG!!!
Notoriously yours, as always,
BARN BREATH
P.S. When you're kissing with your honey'
And you feel something funny,
Don't ever think it's funny,
When it's SNOT!!!