''Gold, we leapt from our benches,'' wrote Robert Service of the Yukon Gold Rush of the late 19th century, ''Gold, we sprang from our stools''. The English-born poet was speaking of the novelty of discovery in that part of what is now Canada, and while other parts of the globe have demonstrated that they, too, are rich in the shiny yellow metal – even as its price reaches the stratosphere -- the novelty of gold in the Yukon has far from worn off.
As the calendar leaned toward autumn, Vancouver-based Argus Metals Corp. (TSX-Venture:AML) told investors and potential investors its colours were not changing, announcing assay results from its Hyland Gold Project confirm significant gold bearing zones underlie the historic ''Main Zone'' deposit and have also identified a new gold bearing ''Feeder Zone'' sulphide system.
Hyland, located in the Watson Lake Mining District, in the Yukon’s southeastern corner, is accessible by helicopter, float plane and four-by-four roads. AML’s findings there have screamed potential, with significant intervals of gold and silver mineralization including 9.13 metres of 2.08 grams per ton gold (g/t Au) and 13.51 g/t silver in one hole and 34.74 metres of 1.1 g/t Au and 3.79 g/t Ag in another.
What’s more, several new targets along on structural intersections are linked to the so-called ''Feeder Zone'', associated with historic soil anomaly data and geophysical data that are now considered priority drill targets. AML has the option to earn a 100% interest in the Hyland Gold Project.
Company literature attributes AML’s success so far to a clearly defined business plan and ''a strong set of corporate values that put the interests of the investor first.'' That is done by ''minimizing risk to enhance the upside potential for everyone involved.''
Other AML projects include the Kaituma East Uranium/Gold Project, in northwest Guyana, a low grade/large tonnage uranium target modeled on deposits found in Namibia. These deposits represent lowest quartile production and demonstrate robust operating parameters. Three Gold targets have been identified on the western portion of the project, with those on the eastern portion of Kaituma not yet tested for gold.
Still another is a base metals operation known as Lady Ermalina Chemainus on Vancouver Island, a strong exploration target for copper, lead, zinc deposits.
AML stock hit a 52-week high the week before at 28 cents a share, as more positive vibes rolled in from Hyland, before the price slid to about 17 cents to begin the current week. Its gulch was reached at eight cents last July. With more promising results rolling in from a traditionally gold-rich part of the country and the world, this stock could prove a “Service-able” addition to one’s portfolio.
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