Alphastox on CSQ Update Alphastox put out on CSQ a few days ago
Canamex Resources: CSQ just announced (on January 30th, 2013) their results from their recent drill program on Bruner in Nevada. Canamex completed eleven reverse circulation (“RC”) holes and one core hole at the Penelas East new discovery area during the fourth quarter of 2012. Eleven of the twelve holes intersected significant thicknesses of gold grading +0.34 gpt (+0.01 opt) Au over potentially minable widths along a length of 180 meters of strike, and across widths of up to +100 meters . All totaled in 2012, twenty holes were drilled into the new Penelas East discovery area, wherein nineteen of the holes hit mineralization with an average overall thickness of 48.2 meters (158 feet) averaging 1.4 gpt (0.041 opt) Au. The gold-bearing zone remains open both to the north of section 540mN and to the south of section 380mN, and these extensions will be the focus of continued drilling in the spring of 2013 when the snow comes off the ground. It is interesting to hear that one of the reasons Bob Kramer and Greg Hahn first got involved with Canamex, was the potential of their Guyana project, being on trend and directly north of Guyana Goldfields’ 0.5 MM oz Aranka Project (hence the name “Aranka North”) and their 7 MM oz Aurora Project. But when they drilled 118 metres of 4.08 gpt gold in Nevada, their focus soon shifted. CSQ did however provide shareholders with an update on Aranka North on January 8th 2013 saying that “Soil sampling by hand auger holes one metre deep on 100-metre spacing across eight square kilometres of the Ridge anomaly has identified two prominent gold-in-soil anomalies…A total of 35 power auger holes out of a 120-hole program were completed before the holiday break, and a total of 90 soil samples have been delivered to the prep lab in Georgetown, Guyana, for ultimate assaying at Acme Analytical Laboratories in Vancouver, Canada. The field program will recommence in mid-January.” Having Hecla Mining take a 14% position ($2.5 mm @ $0.18) definitely brings credibility to the deal and puts many institutional funds and retail investors at ease with the potential that Bruner offers. I am looking forward to see what their next round of drill results show. The results the company issued on January 30th were positive and when you take a look at their 7 target areas, which include their historical resource of 383,000 ounces Au, plus the high grade discovery hole and their recent drill results, CSQ has a lot of potential.