Gunnison Copper Corp V.GCU

Primary Symbol: T.GCU Alternate Symbol(s): GCUMF

Metals & Mining Industrial Metals & Minerals

Gunnison Copper Corp., formerly Excelsior Mining Corp., is a copper development company. The Company operates in Cochise County, Arizona, and is focused on delivering pure copper cathode into the United States domestic supply chain. The Company’s projects include Gunnison Copper Project, the Johnson Camp Mine, and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits, in Cochise County, Arizona. The Strong and Harris copper-zinc-silver deposit is located just 1.3 miles (2.4 kilometers) north of Gunnison Copper’s Johnson Camp SX-EW facility. The Gunnison Project which incorporates a large open pit of predominantly copper oxide mineralization approximately two kilometers south of Johnson Camp Mine (JCM). The Project is a copper cathode and is designed to produce around 167 million pounds of copper cathode annually.

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Gunnison Copper Corp

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Post by booyaacaon Mar 01, 2011 12:24pm

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Post# 18212528

Fraser Mack increases target Price!!!

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GOLD CANYON RESOURCES March 1, 2011
GCU-TSXV $2.30 Rating: STRONG BUY (Speculative) Target Price: ?$4.70 (from $4.25) Market Capitalization (Basic): $211.1 million	METALS & MINING Michael Starogiannis –Analyst 416.682.4222 mstarogiannis@frasermackenzie.com Neal Belovay– Associate 416.682.4228 nbelovay@frasermackenzie.com
Increasing Target Price on Step-out Hole Improving Strike Potential Event Gold Canyon announced drill results from its winter drill program at the Springpole Gold Project located northeast of the Red Lake Mining District, Ontario. Highlights from the drill program include: o Hole SP11-036: 1.13 g/tonne gold over 138.5 metres, including 2.09 g/tonne gold over 27 metres. The hole was terminated in mineralization. o Hole SP11-037: 0.92 g/tonne gold over 262.5 metres, including 3.22 g/tonne gold over 18 metres. o Hole SP11-035: 1.22 g/tonne gold over 95.5 metres. o Hole SP11-038: 1.21 g/tonne gold over 81 metres. A fourth rig has been sent to the property, which will test the down-dip continuation of the Portage Zone. One barge is in the process of being mobilized while another is currently under construction. Discussion Infill hole SP11-037 was positive in that it shows a broad interval of mineralization of 262.5 metres at 0.92 g/tonne gold with a higher grade core of 3.22 g/tonne gold over 18 metres. This hole also shows mineralization comes to surface. Mobilization of the fourth rig supports Gold Canyon completing 9,000-10,000 metres over the course of the winter and summer drill programs and we expect a new resource estimate out by September. The drill results are encouraging as it confirms the continuity of the Portage Zone with 50 metre step-out hole SP11-036. Based on this step-out hole and the coincident geophysical anomaly we are confident in increasing our probability-weighted estimate of potential ounces from 5.0 million ounces to 5.5 million ounces. This results in a new target price of $4.70 per fully diluted share. Continued successful step-out drilling to the southeast of Portage will merit yet another re-rating based on increasing the probability weights for additional ounces in that direction. If we were to bring these probability weights to 100% (based on successful step-outs), this would add an additional 300,000 ounces and would raise our estimate of the potential from 5.5 million ounces gold to 5.8 million ounces gold and imply a potential target of $4.95 per fully diluted share using the same $100/potential ounce in the ground value. We maintain our Strong Buy recommendation and have increased our 12 month price target to $4.70 (from $4.25) per fully diluted share. Wake up people!!!!!! We have explored less than 15% of the property and we have close to 6 mill oz!!!