RE: RE: Latest drill results Yes its a joint venture with Gold Corp but Metals Creek is the operator and has authority to present the information as it sees fit. Unfortunately in this case, the results reporting scenario represented an all to common practice of diluting a narrow bonanza section into an otherwise sub-economic bounding assemblage of low grade material that would be a waste rock component under any reasonable mining scenario. When breaking down the selected press release excerpt below, it is clear that there was an effort made to define the scope of the grade and width of the 8 meter surrounding as constituting a significant component of the overall 9 meter average when in fact it was waste rock category.
The initial hole (TOG-13-27) intersected four zones of gold mineralization which was highlighted by a middle zone which assayed 434.77 grams per tonne (g/t) gold over 1.0 meter within a broader zone of mineralization consisting of 49.96 g/t (uncut) over 9.0 meters.
This reporting style, while not at all uncommon in the industry, has been construed by many analysts and news letter writers as representing a stealth practice aimed at less technically savvy investors. As such, the this type of reporting is primarily directed to and will only be recognized as a significant exploration development by the less knowledgeable investor but on the flip side, represents an obvious null component to the market professionals which are the principal generators of significant stock price swings. In the present case and in the present market, the stock did not make significant strides. Maybe in a different market it would have been different but those days are over. In the present scenario, it could be reasonably construed that the lack of a sustained price swing when ensued after the press release supports the premise that the markets did not succumb to the reporting style.
The project is still one of the better ones in Timmins West and with more drilling, may return more surprises.