OTCPK:ICNOF - Post by User
Comment by
SevenFigureson Aug 22, 2011 1:26pm
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Post# 18967228
RE: RE: Website updated with Drill Maps
RE: RE: Website updated with Drill MapsKewl
Thanks for the message.
I'm no geologist, but on the new drill maps, check out the bottom of hole 013 and remember it's only a 40 meter hole.
In general, it's amazing how a great many of the holes skirted the white/turquoise areas. If you tried, you couldn't skirt them better it seems. RC hole 29 is an interesting one, it appears it is in or near almost the only spot on that southeast peninsula portion of their property that isn't white.
It's not hard to imagine where the Phase II cores will be. The sheer magnitude of the white areas vs. the current area where 001 - 004 are is mind-boggling. Bodes very well for Phase II.
Bigger picture, it appears that these drill results were known at least by 8-6-11 since the cross section map is dated 8-6-11. The bottom fell out of the market on Monday 8-8-11, so maybe that's why they did not release the results then. Or they were waiting until the road show to show investors the complete drill map information. Who knows.
In any event, the price action makes zero sense, unless one believes that ICN controls only a paltry 100,000 ounces and assumes gold-in-the-ground worth $200 oz. This drifting can not continue for much longer. Look at the RPG data in the presentation and realize that some of those samples are in PPM, not PPB. Amazing.
I also don't think it's a coincidence that gold has shot up over $100/oz in the last 4 trading sessions, coinciding perfectly with Chavez' call to repatriate all of Venezuela's gold holdings abroad. It's very apparent that there is nowhere near enough physical to match the paper market.
Shallow high-grade gold in the ground 2 1/2 hours north of Las Vegas as gold approaches $1900/oz... vs all other investments, sounds like a great investment to me.