Americas Petrogas BOE.V early warning report

Another shareholder of Americas Petrogas converts debt into a larger share position. These are little nuggets of information that indicate that the share price is bullish. 

  Kisan International Trading FZE has acquired 4,422,200 common shares of Americas Petrogas Inc., pursuant to the conversion of the balance of principal debt outstanding under a previously issued unsecured convertible promissory note.
After giving effect to the acquisition of the shares, Kisan has beneficial ownership, direction or control over a total of 28,160,500 common shares of Americas Petrogas, representing approximately 15.3 per cent of the current issued and outstanding shares of the company. Following the conversion, the principal amount of the loan from Americas Petrogas to Kisan has been fully satisfied.

Sold Caza Gold CZY.V at $0.62/share

I took some money off the table with Caza Gold today at $0.62/share. It is looking like Caza is going to be range bound here for awhile. I have put myself back on the bid at $0.52/share with an open order.

I still like Caza Gold but I think there will be some short term trades to be made on it.

Some exit strategies

My real job as a mortgage broker has kept me pretty busy over the last month. I have only had time to put up some short posts. On top of that the markets have been pretty flat since the new year. At this point I have loaded up my positions and I will be a seller over the coming drill season.

Any wins with the $0.15/share deals I have bought over the last few months will be rolled into Saint Augustine Gold SAU.TO and Cap-Ex CEV.V as I like the prospects of both these deals going forward. Any purchase of Saint Augustine under $1.00/share and Cap-Ex under $1.25 seems like good value considering their respective projects.

That being said I threw an open sell order for Viper Gold VPR.V today at $0.45/share. The Company has announced that they are drilling their Corongo gold property in Peru. The Corongo property is still an early stage exploration play that warrants a firm exit price at this point.

Viper Gold Ltd. has commenced a 2,000-metre diamond drill program at the Corongo property in Ancash, Peru.
A Category 1 drill permit was granted by the Peruvian Ministry of Energy and Mines in January, 2011, for the Corongo project, which allows for up to 20 drill platforms on the property. The permit is valid for a 12-month period calculated from the initiation date of the work program.
Energold Drilling Peru SAC has been contracted for the Corongo drill program. One drill rig will be mobilized to the Corongo project by the end of March. Energold Drilling has extensive experience drilling in rugged terrain in Peru. Their drill rigs are modular and man-portable with a small environmental footprint, and are suitable for work in the Andes.
The drill program has been designed to test high-priority targets on the Santa Rosa East and Descubridora areas for sediment-hosted, structurally controlled gold and silver mineralization. Priority drill targets were selected based on the geophysical surveys completed in the fall of 2010 and surface mapping, trenching and sampling results. Significant gold and silver mineralization was identified by the 2010 sampling program and has been summarized in the company's press release dated Jan. 12, 2011, available in Stockwatch and on the company's website.
Corongo property
The Corongo property is located in the department of Ancash in the Republic of Peru, approximately 400 kilometres north of Lima. The property covers an area of 3,100 hectares and comprises 11 contiguous claims. The Corongo property is located in a portion of the Western Cordillera of Peru that hosts numerous precious and base metal deposits, including Barrick Gold Corp.'s Pierina and Lagunas Norte gold mines, and Compania Minera Antamina SA's Antamina copper-zinc mine. Viper Gold entered into an option agreement with Duran Ventures Inc., whereby Viper Gold can earn a 50-per-cent beneficial interest in the Corongo property. Viper Gold has provided financing of $250,000 (U.S.) for the phase II exploration program, fulfilling the first exploration expenditure requirement of the option agreement.

I am also looking to exit Slam Exploration SXL.V at $0.185/share and Gunpoint Exploration GUN.V at $1.75.

Oakham Capital set to go public

I got this email from my broker this morning, his latest Capital Pooled Company is ready for an IPO soon.

I am please to announce that we have received final approval for the Initial Public Offering of Oakham Capital Corp. (a Capital Pool Company).    We plan on raising $300,000 by issuing 3,000,000 Common Shares at $0.10 per Share.

 The group behind this CPC also brought Americas Petrogas BOE.V and Morumbi Oil and Gas MOC.V to their respective Qualifying Transactions.

As I have stressed before these $0.10/share deals are always worth pursuing.

How silver is mined part 2

Here is the second part to How Silver is Mined. Courtesy of Endeavour Silver and Storybubble Media.

Enjoy

Americas Petrogas BOE.V raises $50 million

Impressively Americas Petrogas BOE.V has raised $50 million to further their oil and gas projects in Argentina and the potash in Peru.

Although I am no longer a buyer of BOE but a seller, I believe that this will eventually be a $5.00-$10.00 stock.


Americas Petrogas Inc. has closed its previously announced equity financing by way of a private placement on a bought-deal basis by completing the sale of 20,162,000 common shares of the corporation (including 4,032,000 common shares issued pursuant to the exercise, in full, of the overallotment option granted to the underwriters) at a price of $2.48 per common share, for gross proceeds of $50,001,760.
The offering was completed through a syndicate of underwriters led by Mackie Research Capital Corporation and included Wellington West Capital Markets Inc.
Net proceeds received from the offering will be used by the corporation for the continuing exploration and development of its Argentinean oil and gas properties, including exploration and development of its unconventional shale oil, shale gas, and tight sands oil and gas properties, for the advancement of the Bayovar potash project by the corporation's subsidiary, GrowMax Agri Corp., as well as for general corporate purposes.
Barclay Hambrook, president and chief executive officer, stated: "We are very pleased to close this financing as these additional funds will allow us to drill and potentially add value to our prospective unconventional and conventional resources on our nine blocks in the Western 'shale corridor' of the Neuquen basin, and to continue to advance our Bayovar potash project."

Cap Ex CEV.V has attracted an Iron Man

It looks like Cap-Ex management has opted to put an experienced Iron Man in the drivers seat for their deal.

Today's news is as follows:

Cap-Ex Ventures Ltd. has appointed Brett Matich as president and chief executive officer of the company. Mr. Matich joined the board of directors on Jan. 19, 2011.
Mr. Matich has over 20 years experience in the mining industry, most recently the managing director of Australian Stock Exchange (ASX)-listed and London Stock Exchange (AIM)-listed Aztec Resources Ltd. As managing director of Aztec, he identified and took control of a dormant iron ore mine on a remote island in Western Australia. The Aztec mine currently exports approximately three million tonnes of iron ore per year and is owned by ASX-listed Mount Gibson Iron Ltd. as a result of Aztec's takeover in 2007. As inaugural managing director of ASX-listed Fox Resources Ltd. in 2002, Mr. Matich identified a closed Australian nickel mine and successfully returned it to production by 2004.
The company also reports that it has, subject to regulatory approval, retained the services of Brisco Capital LLP to provide investor relations services. Brisco will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the company and its activities. Brisco takes a full-service approach to investor relations and provides creative, effective results-driven investor relations programs for Canadian public companies.
Andrew Bowering, chairman, stated, "We are looking forward to working with Brisco to actively engage the investment community, in order that our company and its inherent value might be best communicated and fully appreciated."
The agreement with Brisco is effective immediately, and covers an initial term of 12 months but may be terminated by either party at any time. Brisco will be paid a monthly fee of $6,000, and granted an option to purchase 200,000 common shares of the company at a price of $1.17 per common share, exercisable for a period of five years.
Effective immediately, Mr. Bowering, former president and chief executive officer, has been appointed as chairman of the company.

How Silver is Mined

I was forwarded this YouTube video on how mineral deposits are formed and how the assay system works to determine the ounce per ton reference that you read about. This is courtesy of Endeavour Silver Corp EDR.TO it is very informative.

You can link to it here 

This is part 1 of 2, part 2 will be released on March 23rd.

Enjoy.

Saint Augustine SAU.T order filled at $0.95/share

I had an order in on Saint Augustine since last weeks trade down to $0.85/share. As with all stocks right now Saint Augustine is in drift mode as the market awaits any news update with the King King gold project.

My purchase at $0.95/share is 12% off the 52 week low of $0.85/share. Can Saint Augustine trade lower? Yes it can, I will save some powder just in case it does trade lower and I can buy more.

Tough week in the markets

My portfolio has taken a bit of a hit this week but I am not alone. The juniors have had a pretty good run from the summer until now. To me the market has been looking a little tired and all that was needed was a bit of bad news to shake people out. Unfortunately when the big board sells off everything sells off. Americas Petrogas BOE.V and Saint Augustine Minerals SAU.T have been hit the hardest as the higher the stock price the further the fall.


Sell offs are healthy for the market and if you remove your emotions from the paper loss that is occurring you might be brave enough to bottom fish a few stocks.

Outside of BOE and SAU the majority of my portfolio is made up of stocks that are trading under $0.30/share and are under the radar. There has been some minor softness in these positions and I will throw some bids in to see what I can get. (STS.V STK.V VPR.V TLR.V)

As I have talked about stock cycles in my trading rule #9  we are in a news vacuum/ winter cycle. What is meant by this is most juniors that have properties in Canada are in idle as far as exploration goes. To run a winter camp burns through a treasury pretty quick. I would expect that most juniors will be on their properties come May or June depending on their location. So with the vacuum/winter cycle stocks tend to drift lower, and as long as they have money in the treasury it is a good time to buy. You want to be on the sell side when there is plentiful of summer exploration news being released.

Hopefully no one bought stock with the strategy that they would rise with the exposure of the Prospectors & Developers Association of Canada (PDAC) Conference in Toronto this week. Like the Cambridge House conferences these seem to attract established shareholders that are more likely to be holders or sellers.

Emgold EMR.V also provided a long winded update

For those followers of this blog that own Emgold, the Company provided an update today. The broad strokes is they have plenty of environmental hoops to get through but they seem to be forging ahead. As I had posted earlier the reason Emgold has traded to $0.14/share has more to do with a private placement that was completed back in October 2010, this stock is now free trading.

Emgold Mining Corp. has released an update on its Idaho-Maryland project, located in Grass Valley, Calif. The Idaho-Maryland mine was once the second-largest underground gold mine in California and is reported to have produced 2.4 million ounces of gold at an average recovered grade of 0.43 ounce per ton. The mine contains an NI 43-101-compliant measured and indicated resource of 472,000 ounces of gold at a grade of 0.28 ounce per ton and an inferred resource of 1,002,000 ounces of gold at a grade of 0.39 ounce per ton, estimated as of March 1, 2007 (see Emgold's NI 43-101-compliant technical report titled, "Idaho-Maryland Mine Project," dated Dec. 8, 2009, at the company's website or filed under the company's profile at SEDAR). A detailed summary of the Idaho-Maryland project is available at the company's website.
Permitting status
Emgold is in the advanced stage of permitting the reopening of the mine and is completing an environmental impact report (EIR) for the project through its 100-per-cent-owned subsidiary, Idaho-Maryland Mining Corp. (IMMC). The preparation of the EIR commenced in July, 2007, in accordance with the California Environmental Quality Act (CEQA). A draft EIR was completed in October, 2008, by the City of Grass Valley, the CEQA lead agency and its consultant, Environmental Science Associates (ESA), and the public comment period for the draft EIR was completed in January, 2009. The draft EIR indicated that of the 15 areas evaluated, the company was successfully able to avoid or mitigate potential environmental impacts of the project in all areas, but one. This is a major accomplishment for any mining and/or industrial project, regardless of the jurisdiction.
After reviewing the draft EIR, meeting with various government agencies to review their comments, reviewing public comments from the draft EIR obtained during the public comment period (letters and public meetings) and obtaining input from the local community through IMMC's community outreach program, IMMC elected in mid-2009 to clarify and amplify the project design contained in project applications to further mitigate and/or eliminate potential environmental impacts of the project identified in the draft EIR. As the air-quality analysis in that document identified certain impacts to be potentially significant, the primary focus of this work was to lessen potential air-quality impacts from oxides of nitrogen, random organic gases, respirable dust (PM10) and greenhouse-gas emissions. The project description revisions in the project applications reflect the goal of Emgold and IMMC to ensure the Idaho-Maryland mine project is a socially and environmentally responsible project that will benefit the city, Nevada county, the local communities and the company's shareholders.
IMMC has completed significant work on air-quality modelling for the project and alternatives to address the air-quality impacts outlined in the draft EIR. Modelling done by IMMC's air-quality experts has significantly reduced oxides of nitrogen, reactive organic gases and respirable particulate matter from previous estimates contained in the draft EIR. IMMC's proposed measures taken to accomplish these reductions include, but are not limited to, use of a traffic management plan (for example, vanpooling and carpooling) to reduce employee traffic trips and associated air emissions, use of low nitrous-oxide burners for combustion of natural gas, use of emulsion explosives, use of higher-tier engines for off-road, underground and surface equipment, and use of shaft hoisting instead of trucking for material handling of ore and development rock.
IMMC expects to submit revised project application documents to the city in April, 2011. Based on CEQA guidelines, after review of the project design modifications reflected in the application documents, the city may determine that a revised draft EIR is required for the project and circulate it for public comment. Alternatively, the city may elect to proceed with preparation of the final EIR. IMMC anticipates a revised draft EIR will be required and has been proceeding on this basis since mid-2009.
The final EIR will be prepared by the city and its consultant. The Grass Valley Planning Commission will review the final EIR and entitlements for the project, make a determination if the documents are complete and adequate, and forward the package to the Grass Valley City Council. The city council will be responsible for certification of the final EIR, approving the entitlements, and approving a conditional-use permit for the project. It is anticipated that the final EIR can be completed in 2011.
David Watkinson, president and chief executive officer of Emgold, stated: "Emgold is busy on a number of fronts with the Idaho-Maryland project and our other exploration properties located in Nevada and British Columbia. Our main focus is the Idaho-Maryland project, and we have made a number of improvements and ensured that input from the public is incorporated into the project changes. We are excited to start moving forward again in the public domain with the Idaho-Maryland project in anticipation of completing the California Environmental Quality Act (CEQA) process to allow us to advance the development of the Idaho-Maryland mine."

Emgold would need some sort of impact news release to lift us off the $0.14/share range, if not I would expect Emgold to linger here at this price for awhile.

Stoneshield Capital STS.V update

I was going to call the Stoneshield Capital and ask them for an update but it looks like they beat me to it.

All being said I would assume the Geldenhoof  property and Risby property are probably under 5-10 feet of snow right now, we probably will not see any action on these properties until May.

Read it below:

Colombia Gold Opportunities

As announced in StoneShield’s news release of November 23rd, 2009, the Company has been seeking gold, silver and copper exploration projects in Colombia, South America. Certain opportunities are now available which have prompted StoneShield to commence the incorporation of offshore subsidiaries to assist with possible exploration property acquisitions in Colombia.

StoneShield now owns a 100% interest in StoneShield Panama Inc. which, in turn, owns a 100% interest in Minera Centinela Inc., both duly incorporated Panamanian corporations. The Company is now in negotiations to acquire certain mineral exploration properties with Colombian nationals.

Geldenhoof Gold Property, BC

StoneShield has been in discussions with consulting geologists familiar with the Company’s Geldenhoof property in the Blackwater gold discovery area. Positive news continues to be released from Richfield Ventures Corp. (RVC-TSX.V) from exploration drilling at the Blackwater property. StoneShield is developing a Spring/Summer exploration program, the details for which will be announced in the near future.

Risby Copper Property, NWT

StoneShield has been working since mid-December 2010 on TSX Venture Exchange (the “Exchange”) requirements for the optioned Risby copper property in the Northwest Territories while also collecting valuable data from the property vendor and its associates. The Company has been requested by the Exchange to prepare an updated 43-101 report with a third party geological consulting firm. The 43-101 report is expected shortly.

Applications for work permits and a required extra-territorial incorporation are underway. A full first-phase exploration plan for the Risby copper property is being planned.

Tabisco Property, Mexico

The Company’s chief geologist spent three weeks in the Fall of 2010 performing reconnaissance exploration at the Tabisco gold property, Mexico, assisted by local workers. Numerous soil samples were collected and mapped across the known epithermal mineralized zone with the intent of establishing drill targets. Assay results received were not encouraging and a recommendation to cease exploration expenditures at Tabisco was recommended to the Company’s board of directors. The Company will not be pursuing further exploration activities at Tabisco.

Additional Corporate Activities

StoneShield is also pleased to announce that on February 4th, 2011 the Company listed on the Frankfurt Stock Exchange trading under the ticker symbol “5XS”. The Company hopes to increase its exposure to the European markets and increase overall liquidity.

Since the Fall of 2010, StoneShield’s directors and chief geologists have been on the hunt for projects of merit to increase shareholder value. Numerous opportunities were assessed and prioritized with a principle focus being on gold, silver and copper projects. The board believes the demand for these three commodities, in particular, will continue to increase in the months and years to come. It remains StoneShield’s focus to explore for, discover, develop and sell valuable deposits of all three commodities.

Fat finger trade on Saint Augustine Gold SAU.T

Looks like I missed the fat finger trade this morning, Saint Augustine traded down to $0.85/share on little volume. It looks like some placed a market order and SAU traded to $0.85/share.

I threw in an order to purchase more shares at $0.95/share but only after the fact. Someone got a nice trade this morning on the buy side and the other person got a lousy fill on the sell side.

Open order on Slam Explortaion SXL.V at $0.18/share

I picked up some Slam Exploration last week at $0.135/share on March 1st when Slam traded 21 million shares. News is still pending on the assay of 320m of 20% sulphide makeup, this is why my sell order is in.

Given that the Company did a 20 million private placement in October last year at $0.11/share with a full warrant at $0.15/share and the lack of follow through volume since March 1st news release it appears to me that
it will be a tough struggle to get the share price higher.

Cap-Ex CEV.V developments point to a higher share price.

A string of news and TSX filings has provided good indication that Cap-Ex is headed towards higher ground.

First off the Venture Exchange has approved both the acquisition of the Schefferville property and a recent private placement.

Cap-Ex Ventures Ltd. has received regulatory approval to close its purchase and sale and royalty agreement between the company and Mandu Resources Ltd., Bedford Resources Partners Inc. and 743584 Ontario Inc., to acquire a 100-per-cent interest in the Schefferville properties, comprising block 103, block 44 and Lac Connelly covering a combined area of 9,050 hectares in the Labrador trough.
The company also announces the closing of its non-brokered private placement of $2.4-million on March 3, 2011. The private placement and the acquisition of the Schefferville properties were first announced in Stockwatch on Jan. 18, 2011.

Secondly there seemed to be a large interest in the private placement by Pro groups. Pro groups are generally  individuals in the brokerage business. Granted it is a no brainer to buy a private placement at $0.30/share when the stock is trading at $1.10/share. Regardless of the price, my theory is these brokers see plenty of deals all the time and probably cherry pick the better deals.

The Pro groups are listed below:

Ivano Veschini 25,000 NF/T; Gary Bogdanovich 25,000 F/T, 25,000 NF/T; Connor Cruise 10,000 NF/T; Cory Coviello 20,000 NF/T; Kerry Pearce 5,000 NF/T; Tracy Seiter 50,000 NF/T; Gord Bain 100,000 NF/T; Anthony P. Fierro 85,000 NF/T; Marc De Cotiis 25,000 NF/T; Carrie Clark 15,000 NF/T; Steve Wright 50,000 NF/T; Todd A. Eymann 15,000 NF/T; Bryan Henry 50,000 NF/T; Leona Nielsen 20,000 NF/T; Greg Nelson 50,000 NF/T; Marion Nelson 50,000 NF/T; Gary Winters 50,000 NF/T; Kristen Simmons 25,000 NF/T; James Oleynick 20,000 NF/T; Dana McGarvey 25,000 NF/T; Kosta Tsoutsis 40,000 NF/T; Zubin Driver 10,000 NF/T; Sean McLean 50,000 F/T; Michael Marosits 40,000 F/T, 140,000 NF/T; Rick Langer 100,000 F/T

Cap-Ex also engaged an Investor Relations firm in Europe and has listed on the Frankfurt Exchange.

Cap-Ex Ventures Ltd. has, subject to regulatory approval, retained Axino AG to provide investor relations services.
Axino will present Cap-Ex in Germany and other European countries, disseminating investor relations information and creating awareness of Cap-Ex in the European financial community. Axino will be responsible for maintaining timely contact with Cap-Ex shareholders, potential investors and investment community professionals.
Axino will receive a total compensation of 60,000 euros for an initial term of 12 months, payable in advance on a quarterly basis of 15,000 euros per quarter starting March 4, 2011. Axino will also receive an option to buy 200,000 shares of the company at an exercise price of $1.17 per share, exercisable for term of five years.
Listing on the Frankfurt Stock Exchange
The company reports that it has listed the common shares of the company for trading on the Frankfurt Stock Exchange under the trading symbol X0V.

Lastly Cap-Ex has added to their land position in the Schefferville area.

Cap-Ex Ventures Ltd. has acquired through staking, a 100-per-cent interest in six strategic iron-ore properties in the Labrador trough near Schefferville, Que.
The Additional Properties, total 405 claims and cover an area of 10,125 hectares. The Company's land package in the Schefferville region now covers a total area of 21,975 hectares, strategically located close to iron ore plants. Please refer to the company's website at www.cap-ex.cahttp://www.cap-ex.ca/ for a detailed map of the properties.

As part of the promotional strategy that is employed by most junior resource companies, Cap-Ex is referencing itself and their proximity of their properties to New Millennium Mining NML.T @ $4.40 and Labrador Iron Ore LIM.T @ $14.00/share.

If Cap-Ex has got the goods in the ground the Company should follow it's peers.

Hilltown Resources HLT:CDNX samples iron ore

Since Hilltown flies under the radar and has no shareholder communications agenda, I thought I would post their last news release for the benefit of the readers of this blog. From what I understand the management of Hilltown is working on securing more iron rich properties to add to their portfolio.

HILLTOWN RESOURCES REPORTS INITIAL SAMPLING RESULTS FROM TEC-FAVARATO IRON ORE PROSPECT IN BRAZIL
Hilltown Resources Inc. has released preliminary due diligence sampling results from the core TEC-Favarato iron-ore claims in the state of Bahia, Brazil.
During the course of a site visit to the TEC-Favarato iron-manganese claims by two Hilltown employees five check rock-chip samples were collected from several widely- spaced limited outcrops distributed along an approximately 2.5-km long, N10W trending layer of Banded Iron Formation (BIF). Two grab rock-chip samples of iron formation material were collected from the northwest and southeast ends of the 2.5-km long BIF layer, and the third composite rock-chip sample from approximately 700m northwest of the southeast end sample. The two end samples contained 52.7% Fe (NW end sample) and 41.1% Fe (SE end sample), and the sample collected 700m northwest of the southeast end contained 56.9% Fe. A fourth rock-chip grab sample was collected from a submarine exhalative manganese-oxide occurrence that contained 35.2% Mn and 19.9% Fe and the fifth rock-chip grab sample from what is interpreted as a strongly leached and oxidized mafic-ultramafic rock that contained 12.7% Fe.
The two samples from the ends of the BIF trend were rock-chip grabs collected from single outcrops, but the sample containing 56.9% Fe was a large composite rock-chip sample collected from multiple small outcrops distributed over an approximately 10-m X 7-m area. The oxidized mafic-ultramafic rock and the exhalative manganese-oxide samples appear to be located stratigraphically close to the BIF layer but are not considered relevant to evaluation of the BIF economic potential.
The Company considers these results to be significant and is planning a follow-up detailed sampling program along and beyond the presently defined 2.5 km long BIF trend, which is interpreted to potentially continue to the southeast. Trench-pit excavation is planned along the trend to increase exposure of BIF and test the iron tenor to shallow depths beneath the surficial leached-oxidized zone. A geologic survey, including geologic mapping and prospecting of BIF layer continuity is planned as well.
The TEC-Favarato iron-ore claims are located on Archean-Proterozoic-age marine meta- volcanic ("greenstones") and meta-sedimentary stratigraphic sequences that include significant segments of BIF. Exploration targets on the Claims include small- to medium-sized (10 to 50 million tonnes) high-grade (50% Fe) BIF iron deposits and, small- to medium-sized (approximately 100,000 to 2,000,000 tonnes), high-grade (approximately 40%-50% Mn) submarine exhalative manganese deposits associated with submarine sediments and volcanics. Potential strike lengths of prospective BIF covered by the claim blocks range up to 12-15 km. Access and potential ore-transport logistics are considered good throughout most of the areas of interest. These iron formation deposits are not well known or explored and represent a potentially new iron-ore district, several mining companies, including Vale, currently have active iron-ore exploration programs in the area.

Speculating on Slam Exploration SXL.V

I took a small position on Slam Exploration SXL.V today for a trade purpose only at $0.135 share. There is a ton of shares outstanding (189MM) on Slam and lots of cheap warrants (40MM+) that I am sure are being sold into today's rally.


The only reason I have done this is due to this news release.

DEEP MINERALIZATION INTERSECTED AT NASH CREEK
Slam Exploration Ltd.'s hole NC11-220 intersected 320 metres of mineralized core containing up to 20 per cent sulphide mineralization. The 583-metre drill hole was angle drilled to the west at a dip of 62 degrees. The primary purpose was to recover mineralized core from the Nash Creek deposit to supply rock for dense media separation (DMS) metallurgical testing. The hole was extended 260 m beyond the original proposed depth of 320 m because sulphide mineralization was intersected in sufficient amounts to warrant extension of the hole.
Assays are pending on 261 samples submitted for copper-lead-zinc-silver assay. The Nash Creek NI 43-101-compliant deposit is represented by a 93-metre interval containing 10 per cent to 20 per cent sulphide mineralization from 145 m to 238 m and a 35.7-metre interval with 10 per cent to 15 per cent sulphide mineralization from 241.3 m to 277 m.
Additional mineralized zones occur below the base of the deposit including a 10-metre interval from 282 m to 292 m and a 115-metre interval from 323 m to 438 m each containing up to 10 per cent sulphides. A deeper interval from 438 m to 538 m is variably mineralized with up to 5 per cent sulphides suggesting significant potential for extensions of the Nash Creek deposit at depth.

It will be interesting to find out what the end result of the 320 meters of mineralization assays at, whatever it is I will be selling at that point.

My position is for trade only and I do not plan on being an owner for very long.