from hard rockEvolving Gold (EVG-V; off
.20 on 1.7
million at $1.06) put out new results from
Rattlesnake towards Thursday’s close, which
indicate that the higher grade material at
depth on the North Stock continues and is
open to expansion in both trend directions. It
also indicated a resource calculation and
metallurgical test work will be coming, and
laid out some basic parameters for new
targeting in 2010. The market was
underwhelmed in part because new drill
results are drying up.
The note that North Stock includes a number
of +5 g/t results was not strong enough to
suggest a solid underground zone is
developing there, nor were there new results
from North Carlin even though other
programs’ results were reported. Neither of
these helped perceptions. There are in fact
another 23 drill holes to come from the 2009
Rattlesnake program it will be a matter of
sorting out averages as they come in put a
value on the project. We expect the share
price to settle in during that process.