With the way CXT is trading, waiting for assays, the mining community seems to be very excited about this discovery. It has gone from .31 cents in the portfolio to an intraday high of .86 today in 3 weeks!!! Which is almost a triple on the original investment.
CXT is my top stock and cannot stress more... that the results are going to be off the hook! They are in the right area right next to a mine exploring with the same successful theories that made LSG, WTM, and SAS drilling deeper next to an old mine. Having announced wide intercepts with 4 separate sections of VISIBLE GOLD within a 3 -5% disseminated pyrite mineralization you can expect 3 - 5 grams a ton of gold plus the high grade gold sections.
With announcing one of the monster holes of the year, CXT is a highly anticipated story unfolding in Timmins and is attracting a lot of attention after gaining 3 times its value in 3 weeks. I doubt there is a leak, but from last news release it is easy to see that they have discovered a very large, and high grade zone of gold... no one buys up a stock to triple its value in less than a month without material information. The results will not disappoint.
They are drilling the Minto project which is estimated to contain 205,000 tons @ 0.2 oz/t up to 200 meter depth. Last year drilled 2 holes totaling 560 meters with the 2nd hole returning 65.7 meters grading 18.2 g/t gold and 79.6 meters grading 4.6 g/t gold. 2010's 5,000m drill program started with the deepening of the first 2 holes and recently announced wide zones of mineralization including 4 separate sections of VISIBLE GOLD. What is most exciting about this discovery is that the mineralization appears below the known resource level, meaning that it is an entirely new gold zone.
Read previous commentary on CXT...
CXT Exlpodes to All-Time Highs
CXT jumps 31% in last half hour
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