GREY:MCOUF - Post by User
Comment by
analysethis9on Aug 16, 2007 8:29pm
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Post# 13259930
RE: What are they looking for?
RE: What are they looking for?over 1 billion years ago a meteorite impacted the earth similar to the Sudbury Igneous Complex home of the big nickel. The quebec government has been sending scientist to study the impact site for 4 years to identify and determine if ni-cu pgm deposits could be located in this area.the efforts concentrated on the impact site and some low ni-cu pgm were identified.manicouagen has flown airborne surveys and conducted some drilling .
A few years later an outfitter familiar with the area where he lives with is dogs, fishes and hunts knew of some rusty outcrops and staked and prospected . He found what is referred today as Bob's showing and tried to sell the project and found deaf ears.
A small company called manicouagan optioned the property and conducted proper channel samples with spectacular results similar to sudbury 2% ni 2% cu and 10 g/t pgm and 1 g/t Rhodium and 1 g/t some other exotic metal. They conducted some geophysics and located a conductor for some 400 meters .they decided that this should be tested with 2,000 meters of drilling and this program is under way. in the spring of 2007 the company identified new areas for exploration and added to their land position.
at the same time another company wo had been investigating the area Azimut assembled a much larger package and created a joint venture with kennecott (RTZ) .The drills have been working for 3 w eeks and samples flown out by chopper daily with assays expected in near future .
The company is also drilling 12,000 meters on cu-zn deposit in brabant lake to enable a 43-101 resource estimate with the goal of completing a feasibility study for production.
The market cap is $25.0 mil and needs no fine tuning in this market as most companies at this advanced stage usually trade at 100 mil ++
i would assume that the reason the stock is strong and you do not hear about it is the secret is not out yet that tis company is undervalued.
good luck