OTCPK:EXSFF - Post by User
Post by
johnathamiltonon Mar 10, 2011 10:23pm
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Post# 18269200
Re: Had to Test the Breakout
Re: Had to Test the BreakoutGutsy buying today! I hope you make a bundle!
I just wanted to note to readers how difficult it is to locate gold in this part of the world. One has only to look back to Goldcorp's Red Lake mine. These paragraphs taken from the Goldcorp website do not do justice to the frustration that the company was experiencing in trying to determine where to drop the shaft. Goldcorp initiated a competition by opening up its data to the public for a total of $500,000 in prize money. The story of the competition is found by following the link.
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1994
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Red Lake Mine was a marginal operation that been in continuous operation since 1948. It had been starved of capital and its performance had always been overshadowed by Campbell. Conventional wisdom said the Red Lake was finished, but Goldcorp challenged this belief at the beginning of 1995 when a $7 million exploration program was initiated that lead to the discovery of a high grade zone of gold mineralization.
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1995
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Significant discovery announced at Red Lake – nine holes averaging 311.31 grams of gold per tonne across 2.3 metres. The mineralization was discovered at a depth and location previously thought to have no potential.
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https://www.camese.org/uploads/ACF13F.PDF
It would be interesting to see what a similar competition would achieve here.