Wednesday, August 25, 2010
Junior Miner Discovers Second High-Grade Gold Zone, Stock Near 52-Week High
For coffee drinkers, that first jolt of caffeine in the morning is often as good as gold.
Perhaps that's what Vancouver-based Kaminak Gold Corporation (TSX-Venture:KAM) had in mind when it christened one of its prime properties the Coffee Gold Project, located in the Yukon, well known for its rich supply of the shiny, precious substance.
Late in August, KAM greeted prospective investors fresh out of bed with news of a lucrative find on one fraction of the Coffee project, appropriately named the Double Double Zone. Assay results came out on one of the holes, neighbouring another hole which featured 6.3 grams per tonne (g/t) gold over 35 metres.
Double Double is one of three gold discoveries announced by KAM during its ongoing summer drill program on the Coffee property located in the Yukon's White District. Additional assay results from the aptly named Supremo and Latte Zones are expected soon and initial drilling of the Kona trend is underway. Coffee consists of 1,803 claims measuring about 43 kilometres long by up to 13 kilometres wide.
The White Gold region is unique in that it has never been glaciated, which means the soil profile at surface is the weathered equivalent of underlying bedrock. As a result, sampling the soil and analyzing for gold content is an effective and accurate exploration tool for locating gold enriched bedrock structures.
New results from the drill hole in questioned are highlighted by an intercept of 15.91 g/t Gold over five metres starting from 213 m core depth. Several greater-than-1 g/t gold intervals also occur further down hole, including an intercept of 1.37 g/t Gold over 3.4 metres at the bottom of the hole.
KAM is an opportunity focused, prospect generator whose technical strength and entrepreneurial drive is complemented by a proven, successful business model designed to create shareholder value. The company has an extensive portfolio of discovery-stage projects that offer world-class exploration potential and present exposure to strategic commodities with an emphasis on gold.
KAM boasts a business model geared to create shareholder value by discovering target discovery-stage opportunities, which yield greater return on investment, lower-cost entry level, and quickly-realized potential. Other projects on KAM's radar screen include the TBN Platinum-Palladium project near Thunder Bay, Ontario, totaling 6,640 hectares. Mineralization ranges up to 40.45 metres @ 7.12 g/t Platinum and Palladium (Pt+Pd), and up 1.21% Copper and 0.5% Nickel.
This company's stock is in the upper portion of a 52-week price range, peaking on August 23 at $2.58. The news about Double Double "perked" investor interest the next day, when more than 560,000 KAM shares changed hands, driving the price to $2.47, towering above its trough for the last year of 34 cents, plumbed last September. For investors who like their gold exposure with lots of upside, this could be worth a closer look.
