RE: NEWS!I think this is a good start. There is nothing earth-shattering in that NR, but its good to see that they have hit mineralization in the very first drill core, and that the sampling numbers confirm potentially economic grades in the old workings. The logical questions that must be asked from an exploration perspective are:
1) Is there a reasonable chance that the addtional resources remain to be exploited from the vein system around the historic mine?
2) Are there entirely new mineralized zones of economic grades that can be uncovered through modern exploration?
If the results from this first program confirm either of the above, then we can look forward to moving Horcon up in the roster of projects.
I would expect that once all the work has been completed and the assay results are known, the company will decide on its options. They can either elect to spend some time analizing the data and plan a follow up program, with more information in hand and therefore an improved outlook for success. Or they can listen for offers from JV partners to vend off the project and allow another company to fund the work and take on the risk (as they have done successfully in their business model so far).
The main points to consider from this project come down the fact that they paid almost nothing to acquire it, and that it is in a very attractive mineral district with plenty of indication that there could be a large deposit awaiting discovery within the property area.
cheers!
COACH247