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CANADIAN MINING NEWS Updated 05/07/2008 08:56 AM | |
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Silver is in a powerful supercycle uptrend, says Malcolm
Bucholtz, an analyst at
www.themarkettraders.com. Silver ran from $11 - $21 an ounce
over the last year, and he believes it is now going through a
regular and healthy correction back to its 50-day moving
average. He urges investors to target silver stocks in
particular during this correction. He points to Mega Silver (MSR-TSXv)
with $16 million cash, almost half its market cap. Mega is
drilling on at least four properties this year, and he says,
will still have lots money left over for an acquisition. Mega
Silver is well positioned for success, says Bucholtz, and
investors should be as well. Thank you Malcolm for permission to
reprint your recent report.
The Commodity Supercycle Report
www.themarkettraders.com Malcolm Bucholtz B.Sc, MBA Analyst Trading Note April 25, 2008
Mega Silver (TSXv:MSR) An Aggressive New Silver Exploration Player …
Mega – Well Positioned in B.C., Yukon and Mexico In my recent travels I have been introduced to a new company that I think has excellent potential to deliver the kind of results that these very demanding resource markets want to see. The company I speak of is Mega Silver which trades on the Canadian markets under the ticker symbol TSXv:MSR. The strategic visionary behind Mega Silver is President and CEO Ken Carter. Ken is a well seasoned mining professional having spent his career with Cominco Ltd. and Echo Bay Mines. Mega started trading on the markets less than 3 months ago and Ken Carter has wasted precious little time in getting Mega Silver well positioned in 3 key areas of North America, namely British Columbia, Yukon and Mexico. And with $16 million cash still in the piggybank, I suspect Mr. Carter has a few more property acquisitions in the hopper that he is working on. In British Columbia, Mega has an option to acquire a 75% interest on the 3041 hectare Virginia Silver property located in the northwest part of the Province near the town of Smithers. The last time this property was thoroughly explored was back in the 1960’s when 2 adits (totaling 152 meters) were advanced into the mineralized formation along with 22 shallow drill holes.. But more importantly, a non-43-101 compliant resource estimate showed 30,000 tons of mineralization grading an average of 25 ounces per ton silver based on historical data (investors should note that while Mega Silver considers this resource estimate to be relevant, it has not been independently verified and should not be relied upon). In 2006, three holes were drilled farther south along the vein, and had results up to 3.5 ounces per ton over 0.2 metres; hole VAG-1: 82.2m-82.4m) identified the vein structure more than 100 metres to the south and southwest. Mega now intends to more thoroughly explore this property and build on the old historic resource estimate. In the Yukon, the targets are in the Selwyn Mountains. Although early stage projects, the Jake, Uno and Rogue properties are geologically similar to the Yukon’s famous Keno Hill Mining Camp, Canada’s second largest primary silver producer and host to some of the richest silver-lead mineralization in the world. In Mexico, Mega has an option to acquire up to a 70% interest in each of 2 properties northwest of the city of Durango by expending $5 million in exploration expenses on each over the next 5 years. These properties are called Promontorio and Montoros. The Durango area of northwestern Mexico hosts 3 major belts of mineralization, themselves all trending in a northwest direction. The western most belt is comprised of mostly gold-silver-copper mineralization. The middle belt is mainly gold-silver-lead and the eastern most belt is silver-lead-zinc. The 2188 hectare Promontorio property is situated in this middle belt and the 2147 hectare Montoros property is situated in the western most belt. So, to say the Durango area of Mexico lies within a prolific belt of mineralization is an understatement. In fact, mining has been a mainstay of the Durango area since Spanish colonial times and continues to this day. Of all the Mega property packages, these two Mexican plays have got me the most intrigued.
Contact Inf oCanadian Mining News,
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