Sacre-Coeur explores gold in Guyana. It’s flagship million mountain property has yielded some very thick and real gold numbers in an approximately 600m x 300m grid:
225.9 meters of 1.05g/t Au
178.4 meters of 2.48 g/t Au
261.8 meters of 1.64g/t Au
Full Drill Results can be found at http://www.scminerals.com/properties_million.htm.
http://www.scminerals.com/pdf/mmplanview091107.pdf
Detailed drilled map (orange is 1-5g/t intercept, and red is 5g+/t)
SCM is in the midst of a calculating a 43-101 resource on Million Mountain which should be released within 2 months.
And just recently SCM discovered a new zone called the Northwest project. The trench data confirmed high grade soil anomalies on the Northwest project with 12 meters of 7g/t Au. CEO Irwin Olian told me gold was visible everywhere along the sampled 1 km stretch and grades were higher than Million Mountain’s when they first started the Million Mountain program. A rig is being moved on site with drilling to commence shortly.
The stock trades erratic as the story is not widely followed. One house has been selling the shares at $1.65 in the last two months and it appears the seller is finished as the stock traded up 20% to $2 on record volume 750,000 shares. Fundamentally, Million Mountain has every bit of potential to reach 1 million oz+ with the published drill results, and Northwest project adds a brand new dimension to the company. It is very reasonable valued at $40 million market cap and $5 million in the bank.
Technically, the stock broke through the downtrend and pierced through both 50 DMA (blue) and 200 DMA (red). A brief rest above 50 DMA the stock could break out and rest old high of $3.5.
|
All Banners
