Golden Peaks Resources HUB - AGORACOM

Drilling about to restart at La Fortuna, 1st resource calc being worked on

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Message: New Agoracom member - long time follower of Golden Peaks

New Agoracom member - long time follower of Golden Peaks

posted on Oct 16, 2007 10:41AM

I don't know how big the Agoracom following is, nor how long it might take to spool up a Golden Peaks following here, but if it takes too long the company may not be here to follow.

While that may sound like a strange statement, the company has been developing it's #1 property (La Fortuna) for the past couple of years and have made it known that they are "in play". La Fortuna is a large involved project with about 150 holes drilled to date and a large amount of the data from those holes still to be released. The past couple of releases have provided follow-up indication of a large resource in the T11 area.

Earlier independent analysis (Ocean Equities) suggested that the T11 sub-area contained around 1/4 million ozs and these latest news releases indicate an extension of the known gold hosting zone in both width and depth (growth factor of 5-6 times) and it remains open in all directions. That pegs the current speculative resource for T11 alone as being in excess of 1 million oz. Multiple other gold bearing zones have been identified and the geophysics indicate deeper connectivity between the T11 and G Zone. The combined area would be about 2kms X  2kms and still does not incorporate multiple other highly prospective zones.

Additionally, the company is currently working a smaller drill program (12 holes) at their Lonco property to ensure they comply with the required work alotment to maintain the property in good standing.

The company is very well funded, with about $7.5 million in the bank and $17 million in executeable warrants at $2.50 which should be doable should that be needed. The company has run it's financing/market outside of North America for the most part, but Dundee has just come out with coverage indicating it is a story well worth boning up on before the North American market catches on.

There is a great deal more detail to be had, but hopefully this is helpful to those of you not otherwise familiar.

Salut - Leigh McBain

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