Gold Canyon Resources Inc V.GCU

Frasermackenzie - Strong buy 5.45CAD

[dino74]

https://www.frasermackenzie.com/newresearch/GOLD_CANYON/QUICK_NOTE_GCU_Starogiannis_020512.pdf

.chers.

[abe4]

thank you for the link

[dino74]

Hole SP12-122 was an infill hole that showed good grade widths at vertical depths of 370 metres. It was drilled near the bottom of the pit shell containing the recently released resource. The robust grade thicknesses are typical of the portage zone between sections 0-050 and 0+150. This 200 metre strike length of the portage zone could contain several million ounces on its own.

[Geospot]

I've been trying to parse this section that you highlighted in yellow from the report. Looking at the maps and trying to figure out if the analyst is saying that this could add several million ounces to the 7.1 million current estimate. Anyone have a thought on the meaning?  Is he talking about pulling the pit down? This 200 metre strike length of the portage zone could contain several

[Geospot]

Hmmm, looks like there were no coureurs de bois to translate that analyst-speak. Seems like a lot of jittery buyers were sitting on the sidelines yesterday waiting to see which way this jobs number went, plus Europe was closed. Good to see things moving back in the right direction today. GLTA.

[scoutaz2003]

Geo,  I read that passage and took it to mean that the extension could add several million ounces.  The size of the various areas keeps growing and in theory, we are getting closer to a slam dunk on a 10 million ounce deposit.     Lets hope we get all of the summer drill results before we get the first takeout offer.  I'm betting on the first of two or three. Companies

[Geospot]

Thanks, Scout. If wasn't that you live in Arizona I would say you are a true coureur des bois. If your analysis is what he means then it sounds like 10 mil. in the currently defined area without counting and extension of the strike past the last southeast hole, or the potential new zones from testing that they discussed in the con call. Seems like "de-risk" is the operative analyst

[diabase1]

Scoutaz: look at the GCU grid (line numbers) map. The NI 43-101 reserve estimates went as far as 0-150m SE. Hole SP12-122 was put down on 0+50 NW, which means that this hole is within the area of the NI 43-101. As I see it, the 48m of 4.15 g/t Au is within the NI 43-101, but a great part of the rest of the hole is deeper than the NI 43-101 cutoff, and is therefore