This Mine is Just Getting StartedAs I expected...our baby is growing...very much in the infancy stage...they have only scratched the surface...watch out below!
It is very nice to have comfirmation from the people in the know that your theory is correct. However, it will take at least an additional 20,000 to 30,000 metres of delination exploration drilling to begin to really prove out their findings moving forward...this process is not a of high priority at the present time and will take an additional two years to prove out...very nice though!
Martin Kostuik, President of Arizona Gold, stated: “We are very pleased to announce initial results of the underground core drilling program. The results thus far demonstrate continuity and extension in mineralized domains with the greatest potential for extension appearing to be down-dip. This has a high probability of success because of the nature of these detachment fault type of deposits in that the mineralized fluids came from depth.”
Michael R. Smith, Technical Advisor to Arizona Gold, stated: “We are very pleased with the results of the ongoing underground core drilling, especially with the new indication of a down-dip extension of the Copperstone zone. Historic hole H5-160 was always one of those holes every property has which creates interest and excitement for the down-dip potential of a deposit. The recent drilling results which were proximal to this historic marker have confirmed that the down-dip potential of the Copperstone is indeed very strong indicating a potential plus 30 meter (“m”) extension down-dip. The Copperstone shear zone is broadly mineralized, as discovered with the drill-indicated potential of two newly identified gold domains below the currently defined domain".
Further drilling is warranted to confirm the presence and extent of the potential new domain....this statement followed the release of all holes...this is what we want to hear.
As a shareholder we would of liked a better reaction in terms of price appreciation...but...as I have stated on numerous occassions...this story at the present is all about execution...execution...execution. They must deploy all resources and financial capabilities to get this project producing gold. There may be some follow through in the next couple of trading days.
It is very important to understand that the release today was more then likely only reflecting about 1,000 metres of underground core drilling...they have drilled 2,400 metres todate...such an insignificant amount of drilling when you factor in the potential size of this deposit. The target is for about 5,000 metres in total...may be expanded depending on findings.
All looks good...the stock price will react accordingly as they reach their milestones...love it!