Encouraging Intitial ResultsI can understand how folks who we looking for 52M @ 20g/Ton may have been disappointed by Friday's PR. However, I was encouraged by the first round of results from the 09 drill season.........
I really like the looks of core from 137. It is exactly the kind of rock we are looking for. The fact that we have discovered gold mineralization in the silver zone may be huge. From the airborne surveys and core 137, it looks like the deposit to the SE may contain significant gold mineralization along with more outstanding silver numbers. Concentrating on that region for the rest of the drilling season, like they are, is exactly where they should be drilling. IMHO I believe that is where we will see this resource expanded.
Hole 128 provided OK numbers (3.4g/Ton over 27M). I don't look for the deposit to be extended significantly to the NW but with the 14 holes drilled over there, we should get a clear picture of what that looks like.
The prospect of a new zone of mineralization, similar to the main and silver zones provides a promising new region in which to expand the Homestake complex. I am eager to hear what the initial drilling in the Gold Reef Zone discovers.
There will be ups and downs in the stock price but the fact is, this is a very promising story unfolding and a great opportunity to buy at these levels.