The Chinese are closely watching any junior who pulls a nice tungsten hole. In addition, with gold closing in on $1,200, the Penedono deposit is drawing quite a bit of investor interest.
Colt Resources starts diamond drilling at Tabuaco
2009-11-26 10:46 ET - News Release
Mr. Nikolas Perrault reports
COLT RESOURCES INC. REPORTS ON DIAMOND DRILLING PROGRESS ON TWO CONCESSIONS
Diamond drilling has started on Colt Resources Inc.'s Tabuaco tungsten property located in the Armamar Meda concession in northern Portugal. This initial program will consist of four holes totalling approximately 325 metres.
Diamond drilling is also continuing on its Santo Antonio gold property in the Penedono concession, located adjacent to the Armamar Meda concession. This is a continuing program at Santo Antonio with an initial target of approximately 750 metres in 10 to 15 holes.
Thursday, November 26, 2009
Wednesday, November 25, 2009
Frederick Shale takes center stage
I had been hoping that the Utica would prove out before the Frederick but CDH just nailed it. These results represent the first significant flow of natural gas from the Frederick Brook formation, and are encouraging for future horizontal drilling and multistage fracturing of this large unconventional resource play.
For those interested, I did a small write-up on the maritime shale play last year. CEX and PTW are the most leveraged to this news besides Corridor.
http://www.statesidereport.com/Four_Horsemen_of_the_Maritime_Shale.pdf
stateside
Corridor well flows at 4.1 mmscfd at Frederick Brook
2009-11-25 08:19 ET - News Release
Mr. Norman Miller reports
CORRIDOR FRACTURES AND TESTS THE FREDERICK BROOK FORMATION AT THE GREEN ROAD G-41 WELL
Corridor Resources Inc. has conducted propane fracs and completed initial cleanup flow of two intervals in the upper part of the Frederick Brook formation at the Green Road G-41 (vertical) well. The well is located approximately 20 kilometres east of the McCully gas plant and four kilometres north of the village of Elgin in southern New Brunswick. The first of the two fracs resulted in the placement of 46 tonnes of proppant in a black shale interval at a depth between 2,000 and 2,050 metres. The second frac resulted in the placement of 68 tonnes of proppant in a silty interval of the formation containing thin interbeds of sandstone at a depth between 1,850 and 1,900 metres. Following completion of the fracturing operations, commingled cleanup flow was conducted for the two intervals. At the end of a 57-hour flow period, the well was flowing at a restricted rate of 4.1 million standard cubic feet per day, consisting of approximately 85 per cent natural gas and 15 per cent propane frac fluid at a flowing wellhead pressure of 2,083 psi. A temperature log confirmed that both intervals were contributing to the flow. A tubing string with packer will be installed in the well to facilitate independent flow testing of each interval. These results represent the first significant flow of natural gas from the Frederick Brook formation, and are encouraging for future horizontal drilling and multistage fracturing of this large unconventional resource play.
For those interested, I did a small write-up on the maritime shale play last year. CEX and PTW are the most leveraged to this news besides Corridor.
http://www.statesidereport.com/Four_Horsemen_of_the_Maritime_Shale.pdf
stateside
Corridor well flows at 4.1 mmscfd at Frederick Brook
2009-11-25 08:19 ET - News Release
Mr. Norman Miller reports
CORRIDOR FRACTURES AND TESTS THE FREDERICK BROOK FORMATION AT THE GREEN ROAD G-41 WELL
Corridor Resources Inc. has conducted propane fracs and completed initial cleanup flow of two intervals in the upper part of the Frederick Brook formation at the Green Road G-41 (vertical) well. The well is located approximately 20 kilometres east of the McCully gas plant and four kilometres north of the village of Elgin in southern New Brunswick. The first of the two fracs resulted in the placement of 46 tonnes of proppant in a black shale interval at a depth between 2,000 and 2,050 metres. The second frac resulted in the placement of 68 tonnes of proppant in a silty interval of the formation containing thin interbeds of sandstone at a depth between 1,850 and 1,900 metres. Following completion of the fracturing operations, commingled cleanup flow was conducted for the two intervals. At the end of a 57-hour flow period, the well was flowing at a restricted rate of 4.1 million standard cubic feet per day, consisting of approximately 85 per cent natural gas and 15 per cent propane frac fluid at a flowing wellhead pressure of 2,083 psi. A temperature log confirmed that both intervals were contributing to the flow. A tubing string with packer will be installed in the well to facilitate independent flow testing of each interval. These results represent the first significant flow of natural gas from the Frederick Brook formation, and are encouraging for future horizontal drilling and multistage fracturing of this large unconventional resource play.
Sunday, November 1, 2009
Lovitt Resources - 5 million shares outstanding, $2 million market cap, 400,000 high grade gold ounces
Hi,
My highlighted company for November, Lovitt Resources (LRC.V), can be accessed at the top left of the site. They are unique in that they have a substantial historical, high-grade resource (non-43 101) of 400,000 ounces of gold in the state of Washington and only 5.1 million shares outstanding with a market cap of under $2 million. A summary of the report in bullet points includes:
• Only 5.1 million shares outstanding with no options or warrants issued
• Non 43-101 compliant resource of approximately 400,000 ounces of gold (historical) at ~ 7 g/t
• No deep drilling on the Lovitt property but plans to deep drill it over the next few months
• Cannon Mine less than a mile away on trend produced 1.25 million ounces high grade gold
• Prior production at Lovitt Mine of 400,000 high grade gold ounces in the 1950's and 1960's
• In 1982, Breakwater went from $.18 to over $40 over the next few years on the Cannon discovery
• Current replacement cost of Lovitt Mine infrastructure and data would exceed $40 million
• Real estate and high tech processing equipment worth Lovitt's current market cap – gold for free
• Near-term production from high grade areas by hauling out material for milling
• Minimal capital cost of $1-$2 million....Kinross Buckhorn plant in Washington has excess capacity
• No prior promotion or marketing means this is a truly undiscovered story
• Current market cap of $1.8 million....private sales of this type have gone for over $10 million
• Safe jurisdiction with water, power, labor and other requirements available locally
• Patented claims 100% owned by Lovitt Resources with no exploration permitting required
• With gold at the $1,000 level and the junior market heating up, investors will be looking for high
grade gold exploration companies with a ultra-tight share structure for the most leverage
• Recent exhibiting at the Toronto Resource Show was the “coming out party” - building awareness
My highlighted company for November, Lovitt Resources (LRC.V), can be accessed at the top left of the site. They are unique in that they have a substantial historical, high-grade resource (non-43 101) of 400,000 ounces of gold in the state of Washington and only 5.1 million shares outstanding with a market cap of under $2 million. A summary of the report in bullet points includes:
• Only 5.1 million shares outstanding with no options or warrants issued
• Non 43-101 compliant resource of approximately 400,000 ounces of gold (historical) at ~ 7 g/t
• No deep drilling on the Lovitt property but plans to deep drill it over the next few months
• Cannon Mine less than a mile away on trend produced 1.25 million ounces high grade gold
• Prior production at Lovitt Mine of 400,000 high grade gold ounces in the 1950's and 1960's
• In 1982, Breakwater went from $.18 to over $40 over the next few years on the Cannon discovery
• Current replacement cost of Lovitt Mine infrastructure and data would exceed $40 million
• Real estate and high tech processing equipment worth Lovitt's current market cap – gold for free
• Near-term production from high grade areas by hauling out material for milling
• Minimal capital cost of $1-$2 million....Kinross Buckhorn plant in Washington has excess capacity
• No prior promotion or marketing means this is a truly undiscovered story
• Current market cap of $1.8 million....private sales of this type have gone for over $10 million
• Safe jurisdiction with water, power, labor and other requirements available locally
• Patented claims 100% owned by Lovitt Resources with no exploration permitting required
• With gold at the $1,000 level and the junior market heating up, investors will be looking for high
grade gold exploration companies with a ultra-tight share structure for the most leverage
• Recent exhibiting at the Toronto Resource Show was the “coming out party” - building awareness
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