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Spanish Mountain Gold Ltd V.SPA

Alternate Symbol(s):  SPAZF

Spanish Mountain Gold Ltd. is a Canada-based exploration-stage resource company. engaged The Company is engaged in the acquisition, exploration and development of mineral properties. The Company is focused on advancing its 100%-owned Spanish Mountain Gold Project in southern central British Columbia. The Spanish Mountain gold project is located about six kilometers from the village of Likely, in the Cariboo region of central British Columbia, approximately 70 kilometers north-east of the city of Williams Lake. The Company does not generate any revenue. The Company's wholly owned subsidiary is Wildrose Resources Ltd. (Wildrose).


TSXV:SPA - Post by User

Bullboard Posts
Comment by rockport1on Jun 23, 2010 2:35pm
431 Views
Post# 17215215

RE: its annoying that

RE: its annoying that@giovanni,   I am not familiar with GNH, so I can't comment. However, I believe it is a little harsh to call GBB garbage.  They have gone about their work program a little differently than what is typical, but it looks like it may ultimately prove to be a wise decision.
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They have defined a "block" deposit with earlier widely spaced drilling, and therefore did not define an NI 43-101 compliant resource. Instead of tighter spaced holes to comply with resource definitions, they completed a bulk sample of the deposit to establish grade.  A little unconventional, but it is how they calculated the 2.5 million oz potential of the block model. As long as the current  and future drilling confirms their block model estimate, they appear be on the way to several million oz resource within the block itself.  The real potential is in expanding the mineralization, which appears to be several kilometers long as it trends toward old mine workings and the like.
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Relative to PKL, the geology is pretty straightforward so their program does make sense. PKL has a much more complex set of structures, so the process will take time; therefore it is encouraging to see four drills turning. I expect there will also be some disappointments with PKL along the way, as they work to define the structures. Drilling deep as PKL is now doing is also fret with challenges. However, there does appear to be lots of untapped or unrevealed mineralization on the property. With the high grade, the potential is certainly there for a world class deposit.
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Just my two cents.
Bullboard Posts