EXSFF...With some 2,700,000 shares trading hands last week on the Toronto Venture Exchange, and a new recent high of .155, I’m excited about what the coming week has in store? So why all the excitement? Many of us are abundantly aware that Explor EXS/EXSFF spent $24 million drilling their Timmins Porcupine West property, establishing the presence of a viable deposit along a 2,000 meter strike length. That unto itself is huge. Subsequent 3D modelling, based on the 260 drill cores done since 1928, using the Hollinger/McIntyre as a model, suggests a potential minimum of 20-30 million ounces of gold, or more, in this deposit.
Directly across the northern boundary of this zone, Lake Shore Gold (LSG) has been drilling extensively in what they call the ‘Gap 144’, on exactly the same structure that Explor drilled to establish a +/- 1,000,000 ounce gold resource. Timmins is a mining based city with a very small town attitude. People meet…people talk. Drilling results from ‘Gap 144’ will be released shortly, and the chatter suggests we could be looking collectively, with the EXS/EXSFF southern extension at TPW, at one of the most lucrative gold deposits ever found…anywhere…ever!!
A further ‘rumble’ is a potential LSG takeover or merger with Tahoe Resources (THO). Tahoe is 25% owned by Goldcorp!! So, effectively, Goldcorp has a controlling interest in Tahoe!
The combination of pending exciting drilling results at ‘Gap 144’, and the ‘takeover’ chatter throughout the mining investment community drove LSG to $1.45+ on massive volume last week.
Directly east of Explor’s TPW, Metals Creek Resources (MEK) reported, and I quote “Toronto, 25 January 2016. Metals Creek Resources Corp. (TSX-V:MEK) (the “Company”) is pleased to report assay results from the first drill hole received from the three diamond drill holes that were completed before the Christmas break on the Thomas Ogden Zone located on the Ogden Property in the Timmins Gold Camp, Ontario..The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp’s Dome Mine and Lake Shore Gold’s West Timmins Mine. Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp"
owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project.” Unquote.
The preliminary results reported were impressive, indicating further extension of the gold bearing zone found originally by Explor at TPW. The interesting thing here is that I’m hearing Goldcorp has the option to own 100% of this MEK property block, by paying MEK twice what has been spent on exploration!!
So, Goldcorp to the north? Goldcorp to the east? Whatever is going on behind the scenes is creating a lot of speculation, in turn, obviously, a lot of buying in the EXS/EXSFF market, given its central core location to the overall play. Who knows, maybe the major delay in Teck reporting results of their drilling at TPW last fall has some greater purpose?? Are they having discussions with Goldcorp about their 70% earn-in option at TPW???
If any combination of factors suggested above come to fruition, EXS/EXSFF may very easily run up into the $1.00-$2.00 neighbourhood in a heartbeat…who knows….maybe even better than that!!
Directly across the northern boundary of this zone, Lake Shore Gold (LSG) has been drilling extensively in what they call the ‘Gap 144’, on exactly the same structure that Explor drilled to establish a +/- 1,000,000 ounce gold resource. Timmins is a mining based city with a very small town attitude. People meet…people talk. Drilling results from ‘Gap 144’ will be released shortly, and the chatter suggests we could be looking collectively, with the EXS/EXSFF southern extension at TPW, at one of the most lucrative gold deposits ever found…anywhere…ever!!
A further ‘rumble’ is a potential LSG takeover or merger with Tahoe Resources (THO). Tahoe is 25% owned by Goldcorp!! So, effectively, Goldcorp has a controlling interest in Tahoe!
The combination of pending exciting drilling results at ‘Gap 144’, and the ‘takeover’ chatter throughout the mining investment community drove LSG to $1.45+ on massive volume last week.
Directly east of Explor’s TPW, Metals Creek Resources (MEK) reported, and I quote “Toronto, 25 January 2016. Metals Creek Resources Corp. (TSX-V:MEK) (the “Company”) is pleased to report assay results from the first drill hole received from the three diamond drill holes that were completed before the Christmas break on the Thomas Ogden Zone located on the Ogden Property in the Timmins Gold Camp, Ontario..The Ogden claims cover eight kilometers of strike length of the Porcupine-Destor Break between Goldcorp’s Dome Mine and Lake Shore Gold’s West Timmins Mine. Property is held under a joint venture in which Metals Creek owns 50%, and Goldcorp Canada Ltd. ("Goldcorp"
owns 50% (as manager and on behalf of the Porcupine Joint Venture, a joint venture between Goldcorp Inc. and Goldcorp Canada Ltd.) with MEK being the operator of the project.” Unquote. The preliminary results reported were impressive, indicating further extension of the gold bearing zone found originally by Explor at TPW. The interesting thing here is that I’m hearing Goldcorp has the option to own 100% of this MEK property block, by paying MEK twice what has been spent on exploration!!
So, Goldcorp to the north? Goldcorp to the east? Whatever is going on behind the scenes is creating a lot of speculation, in turn, obviously, a lot of buying in the EXS/EXSFF market, given its central core location to the overall play. Who knows, maybe the major delay in Teck reporting results of their drilling at TPW last fall has some greater purpose?? Are they having discussions with Goldcorp about their 70% earn-in option at TPW???
If any combination of factors suggested above come to fruition, EXS/EXSFF may very easily run up into the $1.00-$2.00 neighbourhood in a heartbeat…who knows….maybe even better than that!!
