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Thread: Mini boom?

  1. #1

    Default Mini boom?

    Any suggestions of which companies are in the best position to benefit from the below article out of the Age today?

    The article suggests that a STAND by for a mini-boom involving copper/gold explorers in South Australia's Gawler Craton as mining punters scramble for exposure to ground positions near the Carrapateena copper/gold discovery of Canada's Teck Cominco and prospector Rudy Gomez.

    Mr Gomez discovered Carrapateena in 2005 in a drilling program the SA Government partly funded. But it struggled to match the excitement that surrounded its original discovery hole (67 metres at an average grade of 3.03 per cent copper and 0.4 grams of gold a tonne) in follow-up work Teck Cominco funded.

    But the Canadian persistence has paid off. In its March quarter report to the Canadian market, Teck Cominco has reported that hole 50 returned a 905-metre intersection grading 2.1 per cent copper and one gram of gold a tonne, including 95 metres grading 3.3 per cent copper and 0.6 g/tonne gold.

    Teck Cominco did not provide any more information on the hole, although there is industry gossip that the group believes it finally understands what controls the mineralisation at the property.

    The intersection is believed to have been returned from depths below 550 metres. It is also believed to have been from a vertical rather than an inclined hole, raising the prospect it was drilled down a pipe-like structure, overstating its importance.

    But Teck Cominco said several holes 100 metres to the north, east and south-east had returned "visual" copper mineralisation. Assay results have not yet been received.

    Carrapateena sits hard up against Lake Torrens and to the south-east of BHP Billiton's Olympic Dam operation and Oxiana's Prominent Hill copper/gold development. More than a dozen explorers have continued to crawl over the region.

    The 1975 discovery hole at Olympic Dam was 170 metres grading 2.12 per cent copper. But it also came with revenue-boosting uranium at 0.58 kilograms a tonne.


  2. #2

    Default Re: Mini boom?

    MOX - Is one. SP went up from .78 to $1.17 on the 23/24th. Looks like the people in the know knew...

  3. #3

    Default Re: Mini boom?

    Quote Originally Posted by TheAbyss View Post
    hole 50 returned a 905-metre intersection grading 2.1 per cent copper and one gram of gold a tonne
    Note: I am not a Financial Adviser, nor are any of my posts intended to be financial advice, they merely express my own opinions

  4. #4

    Join Date
    Aug 2005
    Blog Entries

    Default Re: Mini boom?

    AXT has doubled since listing at 20 cents and is right next door to MOX. But people have been ignoring me on AXT.


  5. #5

    Default Re: Mini boom?

    VMS and ITT are adjacent to the area and have shown a little activity today. Nothing major though

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