Portfolio of PropertiesHere is some info I've dug for CDO shareholders on what is probably one of their most promising properties. V.GWQ is currently firming up a resource estimate for its exploration program for the Spout Lake skarns, directly to the south of CDO’s Murphy Lake property.
Here is a link to a presentation from GWQ: https://www.gwrresources.com/i/pdf/GWR-KEG-Apr-5-2011-april-13.pdf
Look at the section on the Spout Lake skarns. Historical, non-NI43-101-compliant resource estimates conducted in 1993 included only a portion of the North Skarn Zone, indicating 595,000 tonnes grading 1.78% Cu, 0.12gpt Au and 51% Magnetite over a strike of 300m, locally to depths of 250m. In the latest summary from GWQ (see their April 14, 2011 news release at: https://www.gwrresources.com/s/Home.asp)
the company states that their in-house calculations suggest the figure may be 40 times greater than the historical figure, and drilling remains open. That is 40 times 600,000 tonnes! Even a fraction of that multiple is a staggering amount! GWQ is currently commissioning an initial NI43-101 compliant copper-magnetite-gold-silver resource estimate for the Spout Lake Skarns, by SRK Consulting.
That brings us to Murphy Lake - here is an 2005 report commissioned by CDO on Murphy Lake:
https://aris.empr.gov.bc.ca/ArisReports/27712A.PDF
It recommends further exploration and is quite technical, but what struck me was the data from a 1988 airborne magnetic and low frequency electromagnetic surveys over the Murphy Lake property. At page 39 you will see a map of the survey. At p.40, the following is reported:
"Areas of Interest:
Area I: This region, centered on the Heather 3 claim (area currently covered by the Copper 4 and 19 claims) (Figures 5 and 13). Is located to the immediate northwest ofthe WC deposit by Spout Lake. The WC deposit consists of approximately 500,000 tons (454,545 tonnes) of copper ore which contains up to 40% magnetite. The deposit's magnetic signature is that of a long thin magnetic high. ... this high can be seen extending to the northwest onto the Heather 3 claim, which leads to theconclusion that the magnetite and its associated breccia extend onto the Heather 3 (Copper 4 and 19) claim. This is a prime exploration target."
So, the conclusion: there is a good possibility the skarn discovery, which GWQ estimates could be 40 times greater than the earlier estimate of almost 600,000 tones grading grading 1.78% Cu, 0.12gpt Au and 51% Magnetite, extends onto CDO’s Murphy Lake property. This is the property I heard the new investors are strongly interested in. I also heard rumbling of GWQ’s interest in the property.
Folks, things are falling into place, CDO is cleaning things up internally, the new investors are quietly accumulating and taking over the company, and new management is coming in. This is setting up to be one good investment, especially if you get in at these prices.
All just my opinion, but with new management, new investors, and GWQ’s firming up a significant discovery and a mine that extends onto CDO’s 100% owned Murphy Lake property, you do the math.