Has filled the till with some cash and WEL is able to take the next step with confidence.
The team of people in the company is impecable and primed to move things forward.
We have come through the worst economic downturn for Jr resource stock EVER!
Companies that survive this and can raise money quickely rise to the top... and given the full suit of projects in WEL portfolio we have great odds of success.
The SKP deal was a great "deal at that time" and requires a commitment from SKP to undertake exploration on the poundmaker. I have my reservations about that commitment to advance the project in WEL's intrest. If they were to give us an update that could change my opinion.
I have yet to see SKP drill a hole..... WEL has undertaken several drill programs over the past few years and has committed to drilling 2500M on the Jeep this winter. There appears to be multiples of these hinge type occurances along the main fault. These deposites are within structural confines... structure structure structure
RGC is directly to the East, between the Jeep and Red Lake... again a similar strutural setting. They also just started drilling this week. Previous small drilling programs have returned similar drill intersections as SGR's hinge results.
The Jeep also haveing high grade drill intersections on previous drilling. These are " Coarse Grain gold deposits" Statisticly drilling has always underestimated the average grade in such conditions.
Sooner of later the dots will be connected and the masses will gravitate to these plays.
This from the RGC news release:
"The property has a very similar geologic setting to many of the major mines in the Red Lake camp such as Goldcorp's Campbell and Red Lake mines. Similarities include: proximity to a major structure, secondary northwest-southeast-trending structures, proximity to a folded ultramafic body and association with a large Fe-carbonate alteration zone."
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Will be very interesting next year if/when work starts on the Mike power project. This has the fold outlined by Horseshoe Lake which is on the WEL Mike Power claims, so nicely described by SKP/ SGR as the "Golden fairway" I think that descripion may be perfect.... if that is the fairway then Mike Power could be the Green.... and everyone knows that " you drive for show and put for dough"!
