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Extract from last night's edition. GLTA
GOLD $1676.90 +14.20
PILOT GOLD (T-PLG) $2.09 -0.05
SILVERCREST MINES (V-SVL) $2.57 -0.01
BELO SUN MINING (T-BSX) $1.54 -0.02
So what next for precious metals? After a huge run the
past decade, silver and gold have lost some of their luster.
Most investors currently desperately search out that blue
chip stock that will give them potential for growth and, so
importantly for the grey haired crowd, some kind of yield.
Any kind of interest with the banks and bond markets is
giving so little.
It's the story of the day as the list of blue chips hitting
new highs grows significantly and the list of resource
stocks hitting new lows also grows. But the Fed in the USA
can't keep printing money forever (and if they do, ultimately
that is good for gold) and the other point of interest is that
after 30 years of interest rates going down, you can't go
lower than near zero. When they do start going up, won't
that affect the attraction of those dividends?
Of interest, the American ten year bond flirted with 2%
the other day...maybe we are starting to see that reversal
sometime soon. We suspect sooner or later there will be a
rebound in the interest for gold and three of the more interesting
stories out there had news.
Pilot Gold is working in Turkey (is it a potential takeover?),
SilverCrest Mines updates resources in Mexico (are
they a potential take-over candidate as well?) and Belo Sun
Mining, also frequently mentioned as a potential take-over
The lads at the Canaccord desk update us as Arno Richter
writes on SilverCrest, “SilverCrest Mines announced a
new resource estimate for their La Hoya silver asset in Mexico.
Using a 30 g/t cut-off grade, the La Hoya resource now
stands at 159.8 million ounces of silver equivalent. SVL
also announced a tungsten resource at La Hoya of 75.1 million
pounds using a 0.05% W03.
The company believes that the 60 g/t Ag Eq portion of
the deposit with an estimated tonnage of 27.9 million tonnes
grading 112 grams per tonne Ag Eq constitutes a priority
area to be examined as a potential "Starter Pit" for initial
conceptual operations that will be examined in the Preliminary
Economic Assessment (PEA) to be commenced
The La Joya property has excellent potential for additional resources with the deposits being open in most directions.
Further infill and expansion drilling is recommended to increase and convert resources from Inferred to Indicated.”
Scott Carlson adds these comments on Pilot Gold, “More golden steps. Pilot Gold released another set of encouraging
assay results from seven diamond core holes at its TV Tower KCD target in northwestern Turkey. Drilling has
extended gold mineralization 40 m to the southeast and revealed additional high-grade infill intercepts in north-central
portion of the gold zone. Some of the highlight intersections from the southeast step-out drilling included: i) 2.33 g/t
Au over 93.5 m in KCD-75, including 17.4 g/t Au over 3.5 m; and, ii) 1.79 g/t Au over 78.6 m in KCD-89, including 7.01 g/
t Au over 6.0 m. The results further extend the strike extent of the gold zone at KCD to over 350 m. An additional hole
was drilled down-dip to the northeast of KCD-75, with results pending. While, highlights from the infill drilling included:
i) 2.11 g/t Au over 58.0 m in KCD-90, including 11.6 g/t Au over 7.9 m; and, ii) 3.47 g/t Au, 63.1 g/t Ag and 1.01%
Cu over 23.9 m in KCD-86; including 5.23 g/t Au, 103.8 g/t Ag, 1.74% Cu over 11.6 m. Approximately 13,304 m in 66
holes at KCD have been completed since June 2012, with assays pending for 17 holes. TV Tower is a JV between Pilot
and Teck Resources (TCK.B), with Pilot as project operator. Near-term drilling will continue to focus on infill and stepout
drilling in the KCD target area. Pilot plans to undertake 25,000 to 30,000 m drilling (total) at the KCD, Kayali and
Sarp/Columbaz targets in 2013.”
Lastly, Arno Richter comments on Belo Sun, “Shares of Belo Sun jumped after the company announced further
drill holes from its Volta Grande Project in Brazil. Assays from a total of 86 holes totalling 24,015 m were released.
Highlights from the drill results include hole VVGD-529 which returned 12.07 m grading 11.08 g/t Au (from 59.40 meters)
including 4.85 meters grading 26.78 g/t Au (from 63.40 meters). This intercept represents a new high grade mineralized
zone which is located parallel to the main "Central" zone. Helio Diniz, BSX's Vice President of Exploration,
stated, "The recent drilling results at Volta Grande with the shallow high grade intercepts continue to demonstrate the
potential for further expansion of the mineral resources and combined with the ongoing regional program to the South
East of Volta Grande and at Belo Sun's Patrocinio property in the Tapajos indicate Belo Sun has the potential to expand
on the success its exploration team has enjoyed in the past three years." The market will now be focused on the
company’s coming Pre-Feasibility Study that is expected late Q1/13 or early Q2/13.