Drill Holes, Drill Holes & More Drill HolesOne drill hole!
Explorer Canaco Resources (V.CAN) announced on Sept. 28, 2009 : This zone of alteration and mineralization intersected the target at approximately 70 metres below surface and has returned an overall gold grade of 4.32 grams gold per tonne over 53 metres.
https://www.canaco.ca/s/NewsReleases.asp?ReportID=365582&_Type=News-Releases&_Title=Canaco-Announces-Preliminary-Results-from-Magambazi-Drilling
Then on Oct. 6, 2009 they announced completion of the same hole :This zone of alteration and mineralization intersected the target at approximately 70m below surface and has returned an overall gold grade of 4.28 grams gold per tonne over 59 metres.
https://www.canaco.ca/s/NewsReleases.asp?ReportID=366629&_Type=News-Releases&_Title=Canaco-Announces-Complete-and-Restated-Results-from-Magambazi-DDH-001
The stock price soared to over .40 from .10 on the first results and then to .64 on the final results. Not bad for 9 days!
4.28 grams over 59 meters, pretty good for an African property and it’s the first hole drilled. But it’s still only one hole!
Oromin News Release, October 07, 2009
See schedule A at the bottom of the above OLE release. Note that some of the drill holes are erroneously repeated in the list.
I have much more confidence in Epsilon turning into a mineable high-grade deposit with, if I counted correctly, about 20 holes of 8 or more grams reported with more coming. Many intercepts are narrow but included are 12 meters of 10.2 grams & 12 meters of 23.53 grams. Also some of the intercepts are of spectacular grade like 4 meters of 196.27 grams, 4 meters of 81.1 grams and 3 meters of 98.37 grams.
The junior gold explorers market has recently been very much drill hole centric. Canaco is just one recent example. Maybe our next drilling results release will focus some of the drill hole crazed eyeballs on us.
Is there a hole 109 waiting for us in one of the Oromin deposits?