Post by
SuneeDaze on Dec 21, 2019 10:40am
CBG DD
I just revamped the post from below as it contained dated comments. Great to see someone else actually on the board. That makes two of us now!
While investors are chasing area plays in the Red Lake area in the hope of finding a VMS deposit, CBG is planning exploration on its many deposits...yep, actual existing deposits with outlined resources.
**. CBG holds 17 properties in the Chibougamau area, including 8 past producing mines, most of which remain open at depth
** Bateman deposit hosts a resource to 183 m of 678,750 tons grading 1.76% copper, 4.13 g/t gold, 16.71 g/t silver
** Berrigan North hosts a resource of 1.4 MT grading 1.77 g/t gold and 3.17% zinc
** Holes released from their previous drill program include:
BJ-19-21 which assayed 10.6 m of 3.06% copper, 2.96 g/t gold, 13.04 g/t silver and within that there was 4.38 m grading 4.01% copper, 4.90 g/t gold and 16.17 g/t silver
BJ-19-22 which assayed 15.6 m of 3.02% copper, 0.48 g/t gold and 20.2 g/t silver and within that there was 5.9 m of 5.64% copper, 0.82 g/t gold and 61.12 g/t silver
Those are impressive intersections. And when you include the closest hole to 22 which was BJ-19-18 graded 9.2 m of 7.7% copper, 3.58 g/t gold and 33.25 g silver/t, you can see why the company remains optimistic when the deposit remains open in several directions and at depth where the grades trend higher Other noteworthy points include…
** share count of approximately 47 million; market cap under $7 million
** considerable insider ownership of about 20% meaning that management, as well as us, benefits from their success; as well there have been lots of recent insider buys on the open market
** as previous poster mentioned, the company has received considerable interest from other parties to sell/option some of their properties. Always a positive sign when others want you or your ground!
** infrastructure is all in place meaning exploration costs are greatly reduced
At the current sp, and with a market cap of under $7 million, I feel downside risk is minimal while there is a great level of potential upside moving forward in advance of the next round of exploration. Have a great weekend!