More Drilling at Monte Cristo This Month ?Understand that GSM have a rig lined up and may be drilling at Monte Cristo before month end.
This further drilling may be at the Mclean Pit where GSM already have a 43-101 resource.
Anticipate that announcement regarding drilling may see the stock taking further runs. And as dferfgu7477 has said, just imagine what will happened if they find more gold and silver. Pinetree are certainly confident and have increased their holding as tooclassy has pointed out.
As explained in earlier press release
https://www.goldsummitcorp.com/news/2007/index.php?&content_id=119
“west of the Mclean Pit...........has an inferred resource estimate of 365,000 tons at a grade pf 0.19 ounce per ton gold and .60 ounce per ton silver at a cut off grade of0.1 ounce per ton gold”
And yes that is 70,000 ozs Gold and 200,000 ozs. silver.
Tony Taylor, CEO, has said that “It is our belief, based on science and geology” explains Taylor, “that we may potentially have found the new ‘Comstock’. These are what the industry calls ‘bonanza’ targets with very significant upside potential. Specifically, we are looking at orebodies which tend to be oval-shaped — which is unusual — and which have one long, common axis. Our early find at Monte Cristo is 70,000 ounces currently, but the excitement is really the geology. Our ‘shoots’ at Monte Cristo — that’s mining terminology — are very similar to the original Comstock shoots from the 1800s. They suggest very rich zones of concentrated mineralization.”
From the Hume Report
https://www.goldsummitcorp.com/_resources/media/Goldsummitsinglreoct.pdf