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Junior Miner Intersects High Silver and Gold Grades
By: AllPennyStocks.com News
March 16, 2010
Vancouver and gold -- the words are becoming so closely linked as to be almost interchangeable. The fact remains, more and more gold is being found around the world by companies based in the bustling Olympic city in B.C., fixing the attention of would-be investors on both Vancouver and gold.
Only weeks after the big Olympic party ended, in mid-March, came news of another exciting gold strike in Mexico by Vancouver-headquartered Cream Minerals Ltd. (TSX-Venture:CMA). More assay results came in from Roca Mines Inc. (TSX-Venture:ROK) concerning two additional drill holes of a five-hole program on the Nuevo Milenio epithermal silver-gold project. The program continues to demonstrate high silver and gold grades with significant intervals over sizeable distances.
One drill hole intersected 4.55 metres (2.92 metres, estimated true width, or "ETW") averaging 1,299 grams per ton silver (g/t Ag) and 4.27 g/t gold (Au), including 3.11 m (2.00 m ETW) grading 1,886 g/t Ag and 6.18 g/t Au, and including 1.05 m (0.67 m ETW) grading 4,712 g/t Ag and 15.54 g/t Au.
The company also says numerous other areas of interest on the Nuevo Milenio property are yet to be explored, including a large circular area on strike to the Northeast that is covered by a silica cap.
CMA has holdings in Canada as well as in Sierra Leone, besides its lucrative strike in Mexico. The firm is working to enhance shareholder value through the acquisition of gold, silver and base metal properties which have the potential to be developed into economic ore bodies.
In the spring of 2006, CMA took over the Wine and Wine 1 mineral claims near Flin Flon, Manitoba, rich in nickel, copper, platinum and palladium. Gold has also been discovered on the property. Its 100% owned 4,000-hectare Kaslo Silver Property is located in southern British Columbia, and encompasses nine former high-grade silver-lead-zinc mines. Near Kaslo is the appropriately-dubbed Goldsmith Gold property, home to high-grade gold mineralization in the historic workings is found in quartz veins that range from a few centimetres to five metres in width.
In Sierra Leone, the company’s focus is on diamonds, for it is there that CMA’s joint-venture partner, Casierra Development Fund Inc., has been since 1993 and obtained its first prospecting license on the Sewa River, which drains the Kono diamond area, where the partners’ have invested in the millions in diamond exploration programs.
What is amazing is that, with all its prospects, CMA stock is so modestly priced. It remains in the upper portion of a 52-week range, which topped out at 13.5 cents a share last August, having recovered from a trough of 5.5 cents only two months before. The day of the Nuevo Milenio find, the price registered around 11 cents – perfectly placed for investors anxious to get in on the ground floor with an aggressive little junior miner anxious to build up a head of steam.
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