Penny stock precious metal explorer plays
Was looking for a forum for penny stock explorers to discuss great drilling results and value of resources in ground etc. Focus on drilling results that will excite the market. Any good ideas or results are more than welcome to be posted on this forum. All are welcome to discuss and debate the values of these penny explorers here.
One that caught my eye lately was the Leprechaun project in Newfoundland , a JV between MOZ , Marathon Gold and Mountain Lake MOA.
They have had good results from this play over the past year or two , but last week had the best result to date, as HOLE 11-352 hit 26.1 metres of 13.95 gpt AU at 136 metres depth. That is 728$ per tonne rock value at easily openpittable depth, The deposit appears to be getting richer as they go deeper in this latest direction. Sprott liked it enuf to buy 2 million shares worth of MOA in the latest pp at .65.
half-warrants at .80
MOZ has only 23 million shares OS and was up .07 friday to 1.40 , market cap just over 32 million
MOA with more shares out, 46 million or so , but at only .53 a market cap of only 25 million or so
On January 25, Marathon Gold Corp. (TSX: MOZ) (“Marathon”) completed its earn-in obligation under the sub-option and joint venture agreement announced December 23, 2009, and Mountain Lake and Marathon now own 100% of the Valentine Lake Property on a 50/50 joint venture basis. Marathon is the operator of the project, and the partners have agreed to jointly fund a $7.1 million budget in 2011.
As reported October 6, 135 drill holes totaling 23,372m of core drilling have been completed to date of the 25,000m drilling campaign planned for the Valentine Lake Project in 2011. The 2011 step-out and infill drilling results continue to meet the two key objectives of (1) expanding the gold resource and (2) increasing the confidence in the gold resource of the Leprechaun Deposit with intersections of both high-grade and wide intervals of gold mineralization confirming the continuity of the Main Zone and demonstrating the resource potential along strike and down dip.
