Proximity news: Metals Creek released assays todayTORONTO (SHfn) – Metals Creek Resources (TSX: V.MEK, Stock Forum)shares jumped 19% to 32 cents on Tuesday after the micro cap explorerreported additional assay results from its recently completed 4102meter diamond drill program on the Ogden Gold Project in Timmins,Ontario, which included 4.37 grams per tonne (g/t) gold over 23.4meters. The Ogden Gold Project is under option from Goldcorp CanadaLtd. and Goldcorp Inc. Metals Creek can earn a 50% interest in theproject by incurring $3.1 million in expenditures and issuing acombination of cash and shares totaling $460,000 over four years.
And for those that have done there DD..looked at the geo maps etc. All close proximity plays to both Goldcorp S/W and Kennilworth Nabob mines just north with there Beehive property and with the last NR of the second tranche completed for gross proceeds of 1.46 million.. Assays pending stock sitting off its 52 week lows of a dime at .135..Well if this isn't a recipe for a stock poised to rally. Just waiting for the volume to pick up.. Filed this holding away after there first few misses but maybe methinks they got a better understanding of the surface trenching and all the mineral alterations. Could a sizable vein run right into NBU's Odgen . I'm thinking they could be on to a nice yet to be discovered fault that ran to the south west..Here's hoping not much downsize risk GLTA
TORONTO, ONTARIO, Nov 10, 2010 (MARKETWIRE via COMTEX News Network) --
NebuResources Inc. (TSX VENTURE: NBU) "Nebu" is pleased to announce thecommencement of diamond drilling on its Beehive Property in the prolificTimmins Gold Camp. Drilling begins today, November 10, 2010.
NPLHDrilling Ontario Corporation has been awarded the surfacediamond-drilling contract for approximately 3000 meters of NQ diamonddrilling over 6 holes.
The primary focus of the initial drillingprogram is the evaluation of the gold potential of the southwesternportion of the property to host the extension of the gold mineralizedzone extending from the southeast at the Naybob Mine currently beingexplored by Metals Creek and Goldcorp.
The secondary target is toexplore the potential along strike from the historic Desantis andMcEnaney gold mines located to the west of the west boundary of theBeehive property.
The Beehive Property consists of 11 patentedmining units in the Timmins Mining Camp for a total of approximately 440acres and lies immediately to the north of the Nabob (Kennilworth) minewhich operated between 1932 and 1964 producing just over 50,000 ouncesof gold and is reported to still host a resource of 135,500 tons grading0.25 ounces gold per ton (8.6 g/t Au) in the North Zone and 600,000tons grading 0.20 ounces gold per ton (6.9 g/t Au) in the South Zone.