Trelawney Mining and Exploration Inc TWNNF

Comments on drill results

[beachman]

The results from section 90 are better than expected.  Mineralization appears to maintain thickess from 100's of meters depth to at least 80 m below surface, and the average grade on this section has improved remarkably relative to the hole that was reported on earlier.  On all other sections reported on the grades and thickness are being maintained down and up dip.   No bottom has been found.

What is and will continue to add fuel to this fire IMHO is precedent that I think was set by the recent Newmont takeover of Fronteer Mining.  Although Fronteer's projects in Nevada don't really compare with Cote Lake, it is the price per ounce of gold that Newmont paid should excite the market in the months to come.  Fronteer had 4.2 million oz on their books and Newmont paid $2.3 billion.   Do the math on that and you get a price greater than $500 per oz.   So what per oz value does one put TRR's resouce at ?  I believe even after cutting Cote Lake to 0.5 g/t we are still looking at 5 million oz and perhaps more. 

The bad news is for GLD wannabees as Cote Lake mineralization has now been proven to be dipping too steeply to ever makie in onto their property.

Yes, I bought back into TRR like I said I probably would.  I will avoid GLD like the plague.