Seder news out May 8
May 8 Sedar filling highlights. I do an outline for my exploration stocks after each filing so might as well share:
Not sure why the Weaver Lake Gold drill holes are still pending after 7 months? But seems like if they didn’t intersect anything but got the results, it would have been mentioned in this filing.
Haskins-Reed Property, British Columbia
During 2014, the Company completed a 6-hole, 427 metre diamond drilling and a 6-hole, 409 metre diamond drilling at Haskins-Reed on a high-grade zinc target called the Brett Zone with expenditures totaling $87,521. The results include an intercept of 7.27% zinc across a core length of 9.70 metres. Five of the six drill holes intersected zinc and magnetite mineralization………………….
In September 2018, the Company conducted a diamond drill program, using a low-impact, highly portable rig to test targets near the Meteor Zone, where 2011 drill hole 11MZ-07 encountered 17.5 metres grading 88.35 g/t silver, 1.11% lead and 3.39% zinc.
7 holes with 448.2 metres of drilling were completed for the 2018 season. Details of the drilling results can be found in the Company’s news release on January 25, 2019.
Management is confident that the Haskins-Reed Property remains a property of significant merit with excellent exploration potential and is seeking to fund further exploration through equity financing or through partnerships with other mining companies.
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The Weaver Lake Gold property hosts a quartz stock-work style hydrothermal gold prospect with a history of exploration, including an underground workings and a number of drilling campaigns. A 1996 seven-hole diamond drilling program on the Weaver Lake Gold property reportedly intersected significant gold mineralization, including 8.61 gpt Au and 46.2 gpt Ag over a drilling interval of 3.05 metres and 4.68 gpt Au and 383.7 gpt Ag over a drilling interval of 6.10 metres. Although no work was carried out in 2017, the Company is optimistic that funding for a program in 2018 can be completed.
In October 2018, the Company completed two diamond drill holes at its Weaver Lake Gold property. The drill holes targeted a previously identified high grade gold bearing quartz vein. Mineralized intercepts were encountered and assay results are pending
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Marketing in China of the jade mined by the partners in 2015 is ongoing and management is hopeful that further cash flow from product sales will be realized in the future, although no assurance can be given that such marketing efforts will be successful.
As at December 31, 2018, the Company had a cash balance of $61,201 c…..The Company anticipates completing an equity financing to meet its anticipated operating and capital requirements for the next 12 months.
OUTLOOK: The Company’s management has instituted a strict cost control program to ensure its ability to continue as a going concern. The Company will undertake additional exploration work on its mineral properties and also continue to evaluate new prospects and opportunities.