Morning CoffeeFrom Canaccord's May 26 Morning Coffee report:
https://rebeck.ca/files/MC_05262011.pdf
Kaminak Gold* (KAM : TSX-V : $3.80), Net Change: 0.49, % Change: 14.80%, Volume: 250,461
Caffeine-injected drill results coming soon? Shares of Kaminak spiked Thursday on no apparent news. The highly anticipated Spring drilling season in the Yukon is upon us and Kaminak Gold, one of the leaders in what some are calling the second coming of the Yukon Gold Rush, is currently drilling at the company's 100%-owned Coffee Gold Project, located in the White Gold District, Yukon Territory. In April, Kaminak's management highlighted that this year's program marks the start of just the second year of drilling, which aims to significantly build upon the highly successful 2010 program where eight gold discoveries were drilled over a 15x5 km area of the Coffee Gold Project. Reverse circulation (RC) drilling is taking place at the Supremo Zone testing the "T3 Trend", where gold mineralization was established over a 1.7 km strike length from widely spaced diamond drilling undertaken during 2010. Last year's drill highlights from the T3 Trend include 17.1 g/t Au over 16 m, 12.4 g/t Au over 14 m, 3.3 g/t Au over 17 m, and 1.2 g/t Au over 51 m. Kaminak highlights that all mineralization at Coffee commences from surface and is open along strike and at depth. In addition to the RC drill, two diamond core drills are operating at the Latte and Double Double Zones. A third diamond drill was expected to be mobilized to Coffee by mid-May. The Coffee Gold Project Phase One exploration program is budgeted at $15 million and includes 40,000 m of drilling from four drills (three diamond drills and one RC drill), geophysics and the collection of 10,000 new soil samples in previous unexplored regions of the property.