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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@tommyThere could be up to nine million ounces of gold left to discover at #Hemlo, Barrick’s mining camp in Northern Ontario, according to Gord McKinnon, CEO of gold explorer Canadian Orebodies $CORE, citing a recent Barrick presentation that points to mineralized potential.
Hemlo’s discovery sparked a staking rush and wave of prospecting in the 1980s that made promoter Murray Pezim and prospector Don McKinnon, Gord’s dad, household names in Canada. Mr. McKinnon Sr. passed away in 2012 but his son is keeping the exploration dream alive in Ontario.
CORE is actively exploring in the Hemlo camp and is sporting a roughly $13 mil valuation on the TSXV marketplace and has about $5.5 mil in cash. The company is backed by A List Bay Street mining investors including Osisko Mining, Rob Cudney’s Northfield Capital, Pat DiCapo’s PowerOne Capital, and Sprott’s Rick Rule.
Hemlo camp map: http://cdn.ceo.ca/1cd5e0v-Hemlo-Map-compressor.png+
CORE will drill roughly 2500 meters at the North Limb property in the next few months, 12-20kms from the Hemlo mine. The first-pass program is expected to cost $500,000, with targets generated from a month of field prospecting last year. CORE was able to find new gold showings at North Limb (two grab samples assayed 1.6 gpt Au and 1.7 gpt Au), encouraging because of the stigma that the area has already been picked over by explorationists.
There may be additional drilling at North Limb later this year, following soils and additional IP surveys on the 68km2 property.
CORE is also finalizing plans for a 2017 exploration program, that will include drilling, at the Wire Lake property, also near Hemlo. Wire Lake is a historical gold discovery (past hits include 5.6gpt Au/3.1m with an approx 2.3km strike length). Wire Lake was tied up in litigation for more than two decades and CORE is the first junior on the property since 1993.
McKinnon says the vast majority of the 20 plus million ounces discovered at Hemlo were found at depth. North Limb and Wire Lake have never been drilled below 150 meters.
Sounds like the right stuff for an exploration play, albeit early stage.
Read the corporate presentation and SEDAR for more information and important risk disclosures: https://www.canadianorebodies.com/site/assets/files/2016/core-mar2017.pdf
Adding CORE to my CEO.CA watchlist. No financial interests to disclose.
@ocotilloreduxThanks for linking @tommy . The spreadsheet says data as of April 2017 but I wrapped it up early since the weather is fining up and you know what that means... the clubs come out of the closet. Cheers.
@tommyKind of expecting $KG to have a continued run. It's a summer story and $2m flow through to spend this year. Not an expensive stock compared to some Yukon explorers. I'm long and they are a previous CEO.CA sponsor, so I'm biased.
@tommyI don't want LIX to have a bigger pipeline. The pilot ponds, feasibility study and permitting are how to derisk Sal de Los Angeles. I'm expecting more tension in the lithium market and this team to take full advantage. I'm biased.
@tommyHow to Find the Best Stocks in the Resource Sector - CEO.CA and how I use it: https://youtu.be/NWBKeUz_E8k+ really cool video from Fabi @thenextbigrush. Helps us communicate the watchlist and market depth brilliantly! Please share with friends!
@Benedict@tommy 'two men looked through prison bars, One saw mud, the other stars.' given Schulich's preference for oil stocks, the first one was no doubt a wildcatter, the second a promoter... just a bit of humourist licence :)