NR - August 25th - Great resultshttps://www.marketwire.com/press-release/sulliden-initiates-diamond-drilling-north-corridor-following-positive-exploration-results-tsx-sue-1553550.htm
Was in europe partying the last 2 weeks so I didn't get a chance to comment on this. Supprised no one did considering the results where huge!!! Not exagerting either.
These are the first results we have seen from this corridor and the grades came in much much higher tehn I had anticipated. 4 times that of the central corridor with very high widths. There is alot of gold in the ground in the north corridor!!
Also the possibility of a north south trend tying the two open pit mines together would be of great benefit economically speaking!! Not to mention the additional ounces that would be in the ground.
Also very strong wording for the feasability study progress. Too bad its delayed but with these high grade results I expect cash costs to drop significantyl...I wouldnt be suprised to see 300$/oz..
"Mining rates and equipment sizes are being reviewed with a likely shift to larger tonnage capabilities. The result is a project that appears to be growing beyond the original design parameters. As such, Sulliden now plans to complete the Feasibility Study in early 2012. "
This project is quickly turning into something that has a real probability of having over 8 million low cost ounces in the grond!!
Technically speaking we have finished consolidating and like rest of the juniors are ready for the next move up. Hold on to your stocks, we will move quickly.
GLTA