LEX CORP NEWS LETTER
"Discovering Value In Commodity Stocks"
August 24th 2009 "The Crow Takes Flight-CML"
As I mention in my home page, I took a position in this new junior nickel producer.
http://www.crowflight.com/s/home.asp
Crowflight Minerals Inc. (TSX: CML, Frankfurt: CMI) is a Canadian junior mining company that is currently producing nickel at the Bucko Lake Nickel Mine near Wabowden, Manitoba. Full commercial production was declared at Bucko in June 2009.
In addition to the operation at the Bucko Lake Nickel Mine, Crowflight owns or has under option an additional 800 square kilometres of advanced-stage base metal exploration properties in the Thompson Nickel Belt in Manitoba and the Sudbury Basin in Ontario.
Company highlights include:
- Nickel concentrate production and shipments have commenced at Bucko
- First shipment of concentrate occurred in February 2009
- Base case production scenario of 1,000 tonnes per day to produce on average 11.1 million pounds of payable nickel per year
- Potential for expanded through-put scenario illustrates potential to increase production to 1,500 tonnes per day with feed from Bucko and satellite deposits located within 20 km of Bucko. Further exploration activity and study are required
- Additional mine development opportunities within portfolio of advanced-stage exploration properties
Crowflight Minerals was mentioned as a top pick on BNN-market call last week.
Here is the link: http://watch.bnn.ca/#clip205622
August 23rd 2009 "Conquest Resources-CQR"
Website: http://www.conquestresources.net/
The reason I bought Conquest Resources-CQR is because of their land position. Everyone who knows mining knows that if you want to find a big gold deposit you drill right next door to one. Look at Greystar Resources for example who is sitting on more than 10mil.oz of gold. Ventana Gold who is right next door is getting excellent drill results and might be sitting on a bigger deposit.
Conquest Resources is Alexander Project in the Red Lake Gold Mining District of northwestern Ontario, lies immediately east of Goldcorp's high grade Red Lake mine and is almost completely surrounded by Goldcorp's claim holdings. The Campbell Red Lake mine (Placer Dome) and the Dickenson Red Lake mine (Goldcorp) operations at Balmertown collectively contain over 25 million ounces of gold (reserves plus historic production). The Red Lake Mining Division ranks fifth in Canada in terms of gold reserves and production after the Porcupine (Timmins), Kirkland Lake, Hemlo and Val D’Or camps.
The Alexander Property boundary lies less than 1,000 metres east of Goldcorp's production shaft and adjacent to Goldcorp's Far East Zone exploration target.
Conquest's property covers over 4,000 metres of favourable geology in the heart of the Red Lake camp where Conquest's target is a repetition or extension of the gold mineralization present at the two Red Lake gold mines.
Conquest's Alexander Project at Red Lake, Ontario lies within the "Mine Trend" along strike from 25+ million ounces of gold reserves at Goldcorp's Campbell and Red Lake gold mines.
Important News Release- Drilling To Start
Toronto, Ontario – August 18, 2009 - Conquest Resources Limited (TSX-V: “CQR”) is pleased to announce that it has selected a contractor for the first phase of a two-phase drilling programme to be carried out at its Alexander Gold Project in Red Lake, Ontario.
Boart Longyear Canada will carry out approximately 4,000 meters of NQ drilling in six planned holes with work scheduled to commence in early September.
In late 2008, Goldcorp Inc. drilled four deep holes from its adjacent Red Lake mine property onto Conquest’s 100%-owned Alexander property resulting in the deepest gold mineralization intersection on Conquest’s property at vertical depth of 300 metres returning 14.26 grams per tonne gold over 0.61 metres (previously announced May 25, 2009).
Conquest’s upcoming drill programme is designed to test specific targets, to vertical depths of approximately 500 metres, along a strike length of about 1,800 metres extending from the boundary with Goldcorp’s property towards the central portion of the Alexander property.
Any positive drill results should give this stock a nice jump.
You also have to look at their other land holding/project- Aurora and Sunday Lake Project. I expect they will eventually start drilling this project in the near future.
Conquest's Aurora and Sunday Lake projects at Detour Lake, Ontario are adjacent to the 13.2 million ounce gold open pit planned by Detour Gold Corp. The Sunday Lake claims cover the eastern continuation of the Detour Lake structure while three parallel shear zones occupy the south-central part of the Aurora claims.
This is a very early stage exploration stock which I believe will have big upside if the drills come up with great results. I highly recommend talking to management and doing you due diligence before taking a position. I had this stock on my radar at .04cents and did mention it on my guest book.
