Exclusive BMR video coverage from KSP Property
As BMR readers know, we had the good fortune late last week to carry out valuable additional due diligence of the prolific Heart of Gold Camp through a KSP site visit organized by Colorado Resources (CXO, TSX-V).
One can study maps and technical reports all day and conduct countless interviews over the phone, but there’s nothing like “boots-on-the-ground” to provide critical perspective and confirm or reject certain research of a particular property and/or an entire district.
On Sunday night, following the visit, we issued an eAlert to reassure subscribers that Colorado was very much on track at KSP after uninformed investors, or those simply anxious to lock in some early profits, knocked 25% off the stock price last week in a typical knee-jerk “sell on news” event following the release of very encouraging initial assay results.
Colorado’s Chief Geoscientist, Dr. Jim Oliver, Ph.D., P.Geo.
While there was no “glory hole” right off the bat, each of the first 8 holes did cut high-grade intercepts – some of them in semi-massive and massive sulphides – at shallow depths of less than 150 m. It was a very good start, and our take is that Colorado has just scratched the surface with the best yet to come.
Given an exceptionally high level of technical expertise that’s being applied to KSP, a 300 sq. km project in a rich geological environment west of Eskay Creek, Seabridge’s KSM and Pretium’s incredible Valley of the Kings, it’s reasonable to assume that drill results are going to get even better as this program progresses. Knowledge of the Inel target, and the broader package at KSP, has been increasing significantly by the day ever since drilling commenced last month.
CXO reported the drilling of 37 holes (5,000 m) through July 18 which means they’re on pace to earn a majority interest in this project from Seabridge earlier than expected (this year).
To drill 160 m per day with 1 rig at Inel (the Heart of Gold Camp is challenging country) is a powerful testament to CXO’s level of technical prowess and the highly organized nature of this program – add in very good initial results, an abundance of high quality targets, and you’ve got great potential for tremendous success on the ground and in the market during this 2nd half of 2016.
As you’ll see in tonight’s video piece (footage is from the Inel zone at an elevation of about 1700 m), the first 3 dozen holes have significantly expanded the size of the Inel mineralized system. In addition, drilling on well-defined cross sectional planes is beginning to suggest that mineralized zones have much stronger continuity than historically appreciated. Furthermore, there do appear to be important linkages between the Inel Zone and the Khyber zone to the south.
It all adds up to a very exciting summer at KSP – and the broader Heart of Gold Camp.
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Jon
great interview, this could be huge, Travis seems to be very excited and love it when he says show me anywhere else in the world that there is an anomaly like this one?
Comment by GREGH — July 27, 2016 @ 9:46 pm
Gregh, Adam is presenting at 3 pm this afternoon at the Sprott Symposium – we’ll be there, should be interesting. The drill core from the first 8 holes clearly shows they’re hitting semi-massive to massive sulphides – just wait ’til they hit the sweet spot. Inel/Khyber is one large mother of a hydrothermal system.
Comment by Jon - BMR — July 28, 2016 @ 5:04 am
Simple prescription to make money in 2016…..buy CXO and DVR…and HOLD.
Comment by John - BMR — July 28, 2016 @ 8:36 am
KSP property has lots interesting things being cooked up by mother nature stay tuned could be a real nice surprise coming that will set cxo on fire
Comment by TheSkipper — July 28, 2016 @ 6:03 pm