Lundin says buy Staccato for Cortez trend Staccato Gold Resources Ltd (C-CAT) - In the News
Lundin says buy Staccato for Cortez trend projects
2005-11-30 19:23 ET - In the News
Shares issued 30,138,261
CAT Close 2005-11-30 C$ 0.17
In the October, 2005, edition of the Gold Newsletter (mailed Nov. 4), Brien Lundin says buy Staccato Gold Resources Ltd., a 19-cent Nevada play, never before recommended. Staccato has good land coverage on the Cortez, Carlin and Independence trends in Nevada. Two of its five active projects have attracted joint venture interest from a major. Placer Dome Inc. is now financing a drill program on the company's Long Peak project at Cortez. Placer just wrapped up an initial four-hole campaign there, with assays due out in a few weeks. The major can earn a 60-per-cent interest in the property by paying $1.17-million (U.S.) and spending $2.6-million (U.S.) on exploration over four years. Staccato also has a joint venture with Barrick Gold Corp. at its ICBM project one mile to the southwest. Finally, the company has a 445,000-ounce gold resource at the South Eureka project, also on the Cortez trend. These three projects should give the company a good enough shot at the next Cortez discovery, says Mr. Lundin. If it hits, the company's $6-million market cap should balloon signficantly.