It's a beautiful day in paradise, though I am not in paradise. But, that aside, todays announcements from two of my holdings puts a little tropical sunshine in what will hopefully turn into a wintery wonderland. It turns out that Rubicon has this consitent nagging issue of finding more gold than expected at their Red Lake project in Ontario. In a PR today, they announce :
"New results confirm extension into new target areas south of the 9X target area
Several drill holes have extended gold mineralization south of the 9X target area, confirming that the F2 Gold System is present over at least a 600 metre (1970 feet) vertical extent in this area down to a depth of 1357 metres (4452 feet) below surface where it has been drill-tested to date. Signficant results include 2.07 oz/ton gold over 11.5 feet (70.9 g/t gold over 3.5 metres) in hole F2-108 and 39.43 oz/ton gold over 3.6 feet (1351.8 g/t gold over 1.1 metres) in hole F2-108-W1.
These latest holes are significant because they demonstrate that the F2 Gold System geology extends south of the original 9X target area over a considerable vertical extent and that the F2 Gold System continues to be open in all directions for further drilling. A previously reported intercept, located approximately 250 metres below surface (hole PR-10-18 returned 102.7 g/t gold over 0.6 metres), also south of the 9X target area, suggests that the vertical extent of the F2 Gold System could be significant in this area."
It turns out, they're not the only ones with a nagging issue of finding more than they expected. Apparently, Endeavor Silver is dealign with the same thing. For the past 6 years, Endeavor has increased production. 6 years in a row, that's pretty good given the company's been around for 7 years. Silver production is up 16% and gold production is up 6%.
What a way to start the new year! So, Sinch, thanks for your insights into these two companies last year! Any inputs you or the community have on these issues would be great. I find both news releases very promising yet don't want to get too worked up over somethign that is "smaller" than what I perceived it to be