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GoldON Resources Ltd V.GLD

Alternate Symbol(s):  NCMBF

GoldON Resources Ltd. is a Canada-based mineral exploration company, which is focused on discovery-stage properties. The Company is in the business of exploring its mineral exploration assets. Its projects include West Madsen, Slate Falls, Pipestone Bay, Pakwash North, McInnes Lake, McDonough and Hagarty Creek. The Pipestone Bay Property is located within the Red Lake Greenstone Belt (RLGB) approximately 32 kilometers (km) west of the town of Red Lake, the 1,015-hectare Pipestone Bay Property lies in an area of numerous significant gold occurrences, including two past producers and four developed prospects. The Hagarty Creek property comprises 17 mining claims covering 7,731 hectares. The property is approximately 46 kilometers (km) southeast of the town of Longlac in the municipality of Greenstone, Ontario. The McInnes Lake Property is located over 115 kilometers (km) north of the town of Red Lake. The West Madsen Property is located in the heart of the Red Lake Gold Camp.


TSXV:GLD - Post by User

Bullboard Posts
Comment by xdmmdx3on Jan 14, 2011 11:00pm
261 Views
Post# 17976676

RE: RE: So whats the real answer

RE: RE: So whats the real answerDenton7:
"As for the theory about deep drilling being needed on these properties in order to reveal their true worth; Deep drilling justification requires early stage exploration returns to be had as shallower depths prior to warranting deeper holes and in this particular case, they just were not there to warrant going further in their opinion."
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This is simply not true at all.  The neighbors in surrounding areas all found the good grades of gold deep, and the indicators from the raw data also suggest this, that depth is required to be successful.  SGX just didn't want to spend the big bucks to potentially find a big strike.  They are more interested in the easy lay ups, the shallow easy to find gold.  Can't blame them for that strategy either, but it won't work here.  Deeper holes cost more and are associated with higher risk and better finds.  Just like in oil drilling and gas drilling.

I hope that ends this topic for now; we can resume it once NCM hits on Carscallen. lol

Good luck to all,

x
Bullboard Posts