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Cerro Del Gallo - today and tommorrow

DISCUSSION STARTED BY: hunter49 - July 8th, 2008 - 9:29 AM

+115

A quick question in the most recent press release they state that:

The updated mineral resource estimate now contains 1.1 billion pounds of copper, 3.9 million ounces of gold, and 163 million ounces of silver in the Measured and Indicated Mineral Resources.

But in the company summary at the bottom of the news release they state that:

This work quickly identified several targets and has led to the delineation of a NI 43-101 Mineral Resource of 1.4 billion pounds of copper, 4.5 million ounces of gold, and 200 million ounces of silver.

Which is it??? This resource is quite amazing, I understand they are attempting to expand it and begin metalurgical work - with a $10 million dollar program,

how much $$$ does this company have in the bank - will they need another financing??

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4 points

BY: Snowbird - December 17th, 2008 - 4:49 PM

+275

Re: Cerro Del Gallo - today and tommorrow

I wonder why oil isn't rising with the price of gold?

It seems SNN has taken the trend of gold on now. If gold goes up so do they. Completely taken on a mind if sits own.

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0 points

BY: hazzu - December 17th, 2008 - 2:01 PM

+18

Re: Cerro Del Gallo - today and tommorrow

Does anyone think the markets being closed will hurt the recent run ???

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0 points

BY: samson - December 17th, 2008 - 9:09 AM

+108

Re: Cerro Del Gallo - today and tommorrow

BAHTBUILDER

I hope you are right, but who will have money to invest in this period??

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0 points

BY: Bahtbuilder - December 16th, 2008 - 10:32 PM

+219

Cerro Del Gallo - today and tommorrow

http://www.321gold.com/editorials/schoon/schoon120808.html

In the last Great Depression, the shares of Homestake Mining, the world's largest gold mine, went from $4.19 in 1929 to $495 in 1935, paying a $56 dividend that year. In the coming depression, gold and gold mining shares should do just as well - and, after the onset of the depression, just imagine what they will do during hyperinflation.

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2 points

BY: Snowbird - December 16th, 2008 - 5:51 PM

+275

Re: Cerro Del Gallo - today and tommorrow

Where did you find that article bahtbuilder?

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0 points

BY: samson - December 16th, 2008 - 5:44 PM

+108

Re: Cerro Del Gallo - today and tommorrow

Bahtbuilder you have been right time and again!!! This story is only getting better, I hope the confirmation of funding will come soon - so we have a production timeline

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0 points

BY: Bahtbuilder - December 16th, 2008 - 1:54 PM

+219

Cerro Del Gallo - today and tommorrow

Resource company reports results from Mexico site.

Shares of San Anton Resource Corporation (TSX: T.SNN, Stock Forum) climbed 35.7% to 38 cents Tuesday after the company announced results from exploration drilling around the Cerro del Gallo copper-gold-silver deposit in Guanajuato state, Mexico.

Highlights included 119.3m grading 0.17% Cu, 0.04g/t Au, 30g/t Ag from 570.0m in hole SA-359 including 9m grading 0.14% Cu, 0.01g/t Au, 45g/t Ag from 588.0m and 7m grading 0.16% Cu, 0.02g/t Au, 39g/t Ag from 604.0m.

"We are pleased with the results of the exploration drilling work completed this year as it has allowed us to identify a number of additional targets around Cerro del Gallo which merit further evaluation," said John Cook, the company’s president and CEO.

San Anton says that since early February, exploration has focused on generating new drill targets within a 2 to 3km radius of the Cerro del Gallo deposit. This work identified 8 targets which were tested by 13 drill holes, however further drilling has been temporarily suspended since mid May 2008.

“The intersection of copper-silver mineralisation in diamond core hole SA-359 indicates the Cerro del Gallo copper-gold-silver deposit extends northwards for at least a further 150m. Copper-silver mineralisation is open at depth and along strike. The incorporation of these copper-silver values into any future resource estimate should result in an increase in the size of the Cerro del Gallo copper-gold-silver deposit,” says the company.

On the Bullboard, gchandler weighed in, saying:

The news is good. Now they are finding zinc and lead. The market likes the news, and investors are starting to pay attention to this story. If the Fed cuts interest rates today that will be very bullish for precious metals IMO. US treasury note returns are at record low yields, with some notes yielding negative rates. The Fed is running out of options and investors will turn to gold, the only true safe haven for cash. SNN has proven deposits that are worth billions. It's only a matter of time, until this world class deposit will be a commercial enterprise[sic].