TSX:LSG.DB - Post by User
Post by
digger144on May 04, 2010 8:22pm
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Post# 17062922
Gold Hounds at it Again...
Gold Hounds at it Again...
They keep coming up with more and more gold!
Their ability to sniff it out is simply amazing and they will be rewarded along with the faithful shareholders who have the fortitude and resolve to see this through!
This latest news release just adds to the excitement!
We have known for sometime now about the open pit potential of the Gold River Trend.
However, today we were told about something that is pretty exciting. The possibility of this part of the West Timmins Complex having the potential for bulk underground mining. These people are truly amazing.
In holes TH-10-04 & TH-10-09 which are located in the North Porphyry Section of the Gold River Trend hit gold in five different zones. This is very significant! The fact that they hit these zones at depth further confirm their theory that this part of the West Timmins Complex is a Branch off of the Porcupine Destor Fault very similar to the Dome Fault which is in close proximity and which has to-date produced 15 million ounces of gold and counting!
What appears that might just happen in this part of the Complex is that they will operate an Open Pit and erect a headframe and sink a shaft over the North Porphyry Zone. The shaft will facilitate an underground operation which will be used to access the gold at depth throughout the entire Gold River Trend which covers a strike area of 2.5 km. This type of underground mining over a strike length of this nature is very common in the Timmins Camp.
This area will "contribute to building a large-scale gold Complex".
We have heard this before, but what is different now is that we will soon have the answer into whether or whether not they will build a state of the art processing mill on the West Timmins Complex or fast-track and buy the Timmins Operation of Goldcorp. If they decide to build the new processing mill they are going to have to raise money....make a deal with Hochschild using a new share issue....go to the market and raise capital...or a combination of both. One way or another they are going to have to raise money and the major players will participate. The market will help get this done and I see significant share price appreciation in order to do so. I believe this is the overhang that is keeping the stock at this level for the time being...they will work out the details soon and once they do....they will let it loose...you can bet on it!
Digger144
P.S. Remember the West Timmins Complex is 130 square kilometers....it will take them decades
to find all the gold within it's grasp!