It seems that a lot of exploration companies I follow are scoring big with some big time execs. Earlier this week Mr. Harvey teamed up with Harte Gold Corp for a very good reason as they are going to aggressively explore the Sugar Zone property this year to see if it is indeed the birth of a new Hemlo style gold camp. Yesterday MER scored just as big appointing 21 year Teck exec Ken Thorsen to a Special Advisory Board. This man was responsible for building Teck! Well, not single handedly, but he ran exploration for Teck in Eastern Canada for 14 years and then 7 years out on the west coast as a senior exec in exploration with a 2 year spell as President. It all starts with exploration and if you don't have a good exploration team, then you will never build a mining company. Exploration is responsible for identifying early stage grass roots projects that eventually become company makers. It is how almost every mining good company is built.
Score a huge win for Meritus being able to appoint Ken Thorsen as Senior Technical Advisor to their newly established Advisory Board. Obviously the market approved in a sort of delayed reaction like Harte Gold Corp SP reaction and sent the stock to break out to a year high today and close a penny off that high at .34.
The volume could be a group that follows Ken Thorsen or it could be related to a leak of good news and more results going forward. Either way, Meritus' Gutain Davaa property in Mongolia just got a huge vote of confidence attracting such a big name as Ken Thorsen.
The first 3 holes drilled on the project all returned substantial intervals of gold mineralization
- Hole 1 returned 7.3 meters grading 4.39 g/t au
- Hole 2 returned 28.6 meters grading 8.78 g/t au
- and 9.80 meters grading 4.06 au
- Hole 3 returned 10.70 meters grading 8.05 g/t au
This is an excellent start to the drill campaign. In addition to these excellent drill results they announced they would adding a second rig to the property to complete the initial drill program by mid October.
Currently Meritus is awaiting assays from the lab from 6 more holes with 20 more holes planned to be drilled on the project by mid October.
They have also discovered a vein called the Ninja vein that is only partly exposed that they have traced for 25m with samples returning 113.4 g/t au, 122 g/t au, and 167 g/t au. All samples had widths between 0.5 and 1.39 meters.
See my original write up on September 20th...
http://westernrookie.blogspot.com/2010/09/mongolian-explorer-hits-bonanza-grades.html
See my original write up on September 20th...
http://westernrookie.blogspot.
Read the news of September 20th...
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