Potential World Class Silver Deposits (over 20 ozs/ton) ?The news this past week that Xtierra is going to be drilling those high grade silver veins just outside the main deposit at Bilbao should help the stock price move beyond the recent 18-22 cents range pretty soon.
I am guessing that they will probably commence the drill program in a few weeks and we should see the results sometime in November or early December. There are apparently 8 target areas but they will be focusing on 2 in this program. If they hit anything like Drill Hole X26 which returned 6 metres of 24 ounces per ton (847 g/t) silver or longer intersections of 10 ounces per ton silver, then we could see a monster move up in the stock. If the drilling shows that the extent of the high grade silver mineralization is a lot larger than currently known, we could potentially be looking at a world class discovery. The super high grade of the silver associated with these veins is what excites me particularly. There aren't many silver deposits in the world that have drill intersections of over 20 ounces per ton silver. If a large tonnage of super high grade silver can be proven, a future mine would be incredibly profitable at the current silver price of US$23 per ounce. Just imagine how much more profitable it would be at US$50 or US$100 per ounce - numbers that all the experts in the industry are predicting will occur within the next several years, maybe as soon as the end of this year.
Management, insiders, large shareholders together own over 80% of the stock.
The float on the stock is quite small so even a few million shares of buying by investors will probably move the price well over 50 cents. Love that stock chart. Base building now and getting ready for a huge breakout !