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Jbay76 (< 20)

Gammon Gold Reports HUGE FIND/ Sinch Rocks

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April 07, 2011 – Comments (5) | RELATED TICKERS: AUQ , GOLD , AU

Fools,

We have to be some of the luckiest people out ther to have access to a guy like Chris, aka Sinch, aka Silverminer, aka Da'man.  After reading his info on GRS, I took a big  position in Feb and it seems like they have been on a tear recently with a killer quarterly report, acquiring Capital Gold and then this, their most recent PR concering a recent discovery at ther LaBallezaMine.

 Gammon is pleased to announce that a new discovery of high‐grade gold‐silver mineralization
in the La Balleza Vein in the north‐central portion of the Venus property.
Venus Project Drilling Highlights
Highlights from the 12 holes for which assays have been received include:
-VEN‐009, 0.7 metres grading 62.20 grams per tonne gold and 2,700 grams per tonne
silver, or 111.29 grams per tonne gold equivalent(1).
-VEN‐004, 0.6 metres grading 8.58 grams per tonne gold and 1,050 grams per tonne
silver, or 27.67 grams per tonne gold equivalent(1). 

This mine is 3 KM's north of the Ocampo mine.

We are very encouraged by the early drilling results our Venus Project, which lies three
kilometres directly north of the Ocampo Mine Properties. The surface work completed to date
has shown that there are multiple veins outcropping with locally very high grades on surface.
Results from three holes drilled on the La Balleza Vein have reported some very high gold and
silver grades on two of those holes.” stated Peter Drobeck, Senior Vice President of Exploration
and Business Development. He continued, “As well as the high‐grade discoveries at La Balleza,
we are also encouraged by the surface geology and initial drilling results from the Santo Nino
Vein, located a kilometre south of La Balleza. This vein is locally up to 30 metres wide of
banded and brecciated calcite – quartz, has been traced for 2.4 kilometres along strike and has
shown highly anomalous surface sample values up to 49.80 grams per tonne gold.

 

These guys are rocking this year!

Many thanks Chris!

5 Comments – Post Your Own

#1) On April 08, 2011 at 12:34 AM, awallejr (79.90) wrote:

Sinch's analysis has been spot on.  However (and there always is a however heheh) when euphoria strikes a sector that generally indicates a top.  Too much talk over gold/silver is happening now which makes me at least consider corrections at least.

Long term I like PMs.  Short term I do have concerns.  I can see the dollar rallying over the summer (when oil normally declines) and hence putting downward pressure on PMs.  Of course, that is my peer into the crystal ball.

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#2) On April 08, 2011 at 1:25 AM, HarryCarysGhost (99.78) wrote:

http://en.wikipedia.org/wiki/Price_of_petroleum#History

 I always thought oil normally declines in the winter, spikes in summer.

 I can see the dollar rallying over the summer (when oil normally declines)

 

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#3) On April 08, 2011 at 8:35 AM, Jbay76 (< 20) wrote:

That's true awallejr, but the productivity of these miners is friggin amazing and so I do not worry abotu the bubble.  Look at the price over the years for FCX, GG, etc, they just steam roll right through bubbles.  So, with news releases liek what I originally posted here, I have a bit of confidence that the compnay will move onwards and upwards.

 But it is always good to be a tad cautious.

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#4) On April 08, 2011 at 1:22 PM, silverminer (39.66) wrote:

Awesome!

Gammon CEO Rene Marion is visiting their new El Chanante mine operation this week, but after his return I will be interviewing him next week and reporting the conversation in an article.

Thanks for posting the press release text. Thojse are some very sweet grades!

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#5) On April 10, 2011 at 6:06 PM, Jbay76 (< 20) wrote:

Sinch, glad to hear your P.O.V.!  I was pretty happy to read them and stoked you'll be talking to the CEO and makign an article over it!

Here's to what seems like a very promising year!

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