Share Name Share Symbol Market Type Share ISIN Share Description
Gartmore Smaller Cos Tst LSE:GSM London Ordinary Share GB0005323091 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 262.00p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments - - - - 36.35

Gartmore Smaller Cos Share Discussion Threads

Showing 151 to 175 of 175 messages
Chat Pages: 7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
17/12/2009
12:57
Arpy2 Nice to see you and A.Fewbob The GSM plan is to do some more marketing and get the price at 20 cents. Then tney can raise the money they need to do more drilling at MC. So patience is required here. Still have my shares. :-)
smilewithme
17/12/2009
10:36
Well done for keeping us updated guys. I'm still in here patiently waiting. It's good to see that things are still simmering under the surface. Roge.
arpy2
16/12/2009
02:01
Yep all good stuff! One day the market will waken up here :-)
smilewithme
16/12/2009
00:56
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=27734352&l=0&r=0&s=GSM&t=LIST GOLD SUMMIT REPORTS NEW RESOURCE ESTIMATE OF 280,000 OUNCES GOLD AT MONTE CRISTO December 14, 2009 Gold Summit Corporation ("GSM" or the "Company") announces that it has received preliminary results from the new SURPAC block model of the McLean Lode at Monte Cristo, forming part of a National Instrument 43-101 ("NI 43-101") compliant technical report to be posted on SEDAR within 45 days of this announcement. At a 1.0 g/t gold cut off, the inferred global resource amounts to 278,923 ounces of gold contained in 1,923,391 tonnes at a grade of 4.51 g/t gold. At a 5.0 g/t gold cut off, the inferred global resource amounts to 173,939 ounces gold contained in 364,767 tonnes at a grade of 14.83 g/t gold. Additional variography and statistical studies are in progress to produce resource estimates at 2.0, 3.0 and 4.0 g/t cut off grades. Commenting on the new resource numbers, Dr. Anthony P. Taylor, Chief Executive Officer of GSM said: "we have long considered that the McLean Lode has production promise and are very encouraged with the new estimate that clearly points in the direction of a mine scoping study. That may include step out drilling to increase the resource, additional core drilling within the resource to provide a more accurate estimate of mineable widths and gold and silver grades and mine and metallurgical engineering and permitting studies". The new resource remains heavily weighted by a predominant number of reverse circulation drill results that exaggerate vein widths and dilute grade for gold. The majority of the holes drilled prior to GSM's work were not assayed for silver. Four GSM core holes, in particular, encountered significant silver grades, ranging between 500 g/t and 1500 g/t leading to the conclusion that a significant, but unquantifiable, silver resource exists. Since the previous NI 43-101 study, completed four years ago, the new study is intended to gauge economic viability given current gold and silver prices. It indicates that, at a cut-off grade between 1.0 and 5.0 g/t gold, there is the potential for a resource to support a ten year, small scale, mine operation. Additional work is warranted to quantify that and a scoping study is planned. GSM controls approximately 7.5 km strike length of a wide mineralized and altered fault zone at Monte Cristo. The Mclean Lode lies towards the northern end and other mineralized target areas remain to be tested and other similar ore shoots are thought likely to occur. The McLean Lode and containing fault zone has many geological similarities, including host rocks, structural styles, alteration, gangue and ore mineralogy to the famous Comstock Lode 200 km to the northwest, located in the same Miocene age volcanic suite. Individual ore bodies of the Comstock system are of similar dimensions to the Mclean Lode and with distinct plunge (elongation) directions within the host fault zone. The Comstock ore bodies produced a total of approximately 8 million ounces of gold and 200 million ounces of silver. GSM currently explores primarily in Nevada for high grade gold and gold/silver deposits that would support underground, low cash cost operations. Apart from Monte Cristo, GSM's other properties cover part of four more Tertiary epithermal vein districts. All these have drill ready targets defined by surface work with potentially economic gold and or silver grades in outcrops or discovery drill holes. One is the Sugarloaf Peak Prospect in Esmeralda County, Nevada, the subject of a NI 43-101 compliant report, filed November 10, 2009. The Tip Top Mine has indicated and inferred resources of 646,234 tonnes grading 2.9 g/t gold at a 1 g/t gold cut off and column leach tests to evaluate an open pit-heap leach option are in progress. The 43-101 report on Monte Cristo is authored by Nicole Preuss, M.Sc.,LG, M.Aus IMM, a Qualified Person, as defined in NI 43-101, licensed in the State of Washington. Larry Kornze, a GSM director and a registered Professional Geologist, designated as the Qualified Person under National Instrument 43-101 has reviewed and approved the contents of this news release. First Canadian Capital Corp. provides strategic marketing and corporate communications advice to Gold Summit. Contact Jason Monaco: jmonaco@firstcanadiancapital.com 416-742-5600 or1-866-580-8891 For further information, contact Andrea Rascati at Gold Summit's operating office in Reno at (775) 284-7200 or visit GSM's web site at www.goldsummitcorp.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements. These statements are based on information currently available to GSM and GSM provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe GSM's future plans, objectives or goals, including words to the effect that GSM or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of GSM's mineral properties, and GSM's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of GSM's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on GSM's forward-looking statements. GSM does not undertake to update any forward-looking statement that may be made from time to time by GSM or on its behalf, except in accordance with applicable securities laws. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources and reserves, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
a.fewbob
13/6/2009
16:18
hi chris good to see that you are still around am quietly confident that GSM will get back to the amount we paid in placement some time ago indeed took more in the recent placement at ten cents :-)
smilewithme
13/6/2009
15:20
Gold Summit Corporation ("GSM" or the "Company") announces that a total of 625,000 options to purchase common shares of the Company were granted to directors, officers and consultants on June12, 2009 at an exercise price of $0.20 per share, expiring on June 12, 2014. The grant is subject to regulatory approval GSM explores primarily in Nevada for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM's primary properties, totaling 42 km2, cover four Tertiary epithermal vein districts. All these have drill ready targets defined by surface work, most with bonanza grades in outcrops or discovery drill holes. The company's flagship property, Monte Cristo, contains a National Instrument 43-101 compliant inferred resource estimate of 331,000 tonnes averaging 6.5 g/t gold. High grade shoots that form the heart of the resource are open down plunge and the company plans work to extend these.
chris1983
16/4/2009
21:44
My eyes nearly popped out earlier. ADVFN have GSM trading at $1 in the charts. Can I sue them for emotional trauma? :)
chris1983
05/4/2009
12:31
I do hope so , what a choice 'Golden Mamouth'. Perhaps 'Golden Disaster' would be a better name with the shares at 1 cent. A great example in how Not to run an exploration company. Still maybe my shares will double to 2cents one day.
kickstart
25/3/2009
09:38
"In addition, shareholders will also be asked to approve a name change to "Golden Mammoth Corporation" or any name to be decided by the GSM Board of Directors. The share consolidation and name change are subject to TSX Venture Exchange approval" Some much better names are under consideration...
smilewithme
25/3/2009
00:57
The name change to 'Golden Mammoth Corp' seems appropriate given the shareprice (lol).
kickstart
24/1/2009
15:18
Good timing too, with the price of gold gaining momentum.
chris1983
21/1/2009
20:11
This is very good news - GSM are now free to find a partner who has some money to get this thing moving again! Gold Summit's Monte Cristo Prospect News Reno, Nevada US, Jan 21, 2009 (Filing Services Canada via COMTEX News Network) -- Gold Summit Corporation (GSM - TSX Venture), reports that International Bethlehem Mining Corp. (IBC), citing poor market conditions, advised yesterday that it will not continue its participation in the Mining Option agreement on the Monte Cristo Property. The agreement required IBC to spend a further $600,000 on exploring the Monte Cristo Property in the 12 month period following the February 28, 2009 anniversary date. The Mining Option agreement required IBC to spend $1.5 million on exploration to earn a minimum 25% interest in the Monte Cristo Property and an aggregate of $3 million to earn a 50% interest. The Mining Option agreement also required 600,000 IBC common shares to be issued to GSM. To date IBC spent a total of $600,000 on exploration of the Monte Cristo Property and issued 200,000 shares to GSM. Commenting on the withdrawal, Dr. A. P. Taylor, GSM's President and CEO said: "the timely notification by IBC of their intentions, leaves our flagship Nevada property unencumbered with the opportunity early this year to seek another partner or other financial option to continue exploring there. High grade underground gold and silver targets in Nevada remain geologically compelling and that does not change with market conditions". The Monte Cristo Property consists of 372 unpatented lode mining claims, an area of approximately 2,677 hectares (7,500 acres) covering an 11 km north-northeast trending fault zone in Tertiary volcanic rocks. Along the trend, GSM has identified numerous geological and geochemical drill targets. The Monte Cristo Property includes the McLean Lode, a high grade gold-silver vein system where GSM drilling between 2004 and 2008 discovered a classic epithermal vein system under an old open pit oxide gold deposit. A NI 43-101 inferred resource estimate of 331,000 tonnes averaging 6.5 g/t gold was filed in 2006. The estimate is largely based on reverse circulation drilling and does not include a complete silver assay database. GSM core drilling has intersected vein material with gold grades ranging between 0.1 and 253 g/t gold and 0.2 and 1309 g/t silver. GSM believes that the McLean Lode may lie within a much larger gold/silver bearing zone with many geological similarities to the Comstock Lode system that produced approximately 8 million ounces of gold and 200 million ounces of silver. GSM explores primarily in Nevada for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM's primary properties, totaling 42 km2, cover four Tertiary epithermal vein districts. All these have drill ready targets defined by surface work, most with bonanza grades in outcrops or discovery drill holes. GSM is also conducting a lithium exploration program in Esmeralda County on behalf of Black Pearl Minerals Consolidated Inc. Larry Kornze, a GSM director and a registered Professional Geologist, is designated as the Qualified Person under National Instrument 43-101 and has reviewed and approved the contents of this news release. In other news, GSM reports that James Pirie has resigned as CFO of Gold Summit Corporation to focus on other activities. GSM would like to thank Dr. Pirie for his notable service and wish him well in his future endeavors.
smilewithme
04/10/2008
23:14
A.Fewbob Take a look at CFO - Clifton Star Resources http://www.advfn.com/cmn/fbb/thread.php3?id=17879022 By the way Tony Taylor currently in Toronto - loads of meetings lined up... :-)
smilewithme
04/10/2008
18:47
Thanks smile. Being an investor in PM stocks right now feels like being a length of tarmac on the M25...... not good!
a.fewbob
01/10/2008
11:13
from tooclassy: I think the main thing with this company Gold Summit is the geological expertise of the man running it. Gold Summit president Anthony Taylor is credited with the exploration and development of the deposit which became the Ridgeway Mine in South Carolina (now closed). http://www.riotinto.com/SustainableReview/common/pdfs/Ridgeway.pdf In addition to his duties running Gold Summit, Taylor is a director of Hecla Mining Company. In talking with people in the resource sector I have concluded that as a geologist Taylor ranks in the creme de la creme of his industry. (Your mileage may vary). I need to study further on Gold Summit's new projects. I am most familiar with its Monte Cristo project in Nevada. I have studied it at length and concluded that it was and is one of the most speculative gold exploration properties out there and deserved its reputation as a Comstock Lode lookalike exploration situation. Not at all known as a promoter-type, I didn't need to heavily discount every word from Taylor but received from him the straight scoop about Monte Cristo (what Taylor knows, what he thinks he knows, what he is trying to know, and what he doesn't know). Funding Monte Cristo exploration is entirely another matter. The good news is that Gold Summit is using OPM (other people's money) and has a JV partner putting up all the money for exploration to gain a percentage. The bad news is that the JV partner is not going to spend more money until next spring or summer so there is little chance of instant gratification here. Furthermore, there is no getting around it that exploration companies are not the flavor of the month right now with the credit market convulsions out there limiting the funding of such companies. Nevertheless, Taylor has continued forth, assembling new projects and funding for them. The lithium property is a situation providing revenue so that the company doesn't have to dilute itself to keep operating. They say you make money buying stock when nobody wants 'em....I look forward to the exploration companies like Gold Summit coming back in vogue. At that point, stocks like this will reveal the tremendous leverage that they have, especially from these insanely oversold levels.
smilewithme
30/9/2008
14:58
http://www.goldsummitcorp.com/_resources/pressreleases/2008_09_29.pdf GSM still trying their best to create shareholder value: *"Gold Summit Corporation (TSX-V GSM) has staked a block of 136 lode mineral claims covering an exposed precious metal bearing, quartz breccia in Esmeralda County, Nevada. Surface samples of stockwork quartz veining assayed between and 0.02 and 12 g/t silver" *"GSM is also conducting a lithium exploration programme in Esmeralda County on behalf of Black pearl Minerals" (Although Black Pearl gets to keep any Lithium found by GSM, GSM do get paid for looking and finding. And GSM gets to keep share in everything else. There may be Potash in them hills) *"In western Ontario, Gold Summit is also exploring a nickel-copper prospect in mafic rocks near Dryden where diamond drilling is planned in mid October" (Understand that the geology is similar to the Noront Discovery which became the Ring of Fire in the James Bay Lowlands. Of course on that back of that NOT was the best performer on the TSX-V, last year – rising from around 50 cents to over $6 in a few months.) G O L D S U M M I T C O R P O R A T I O N PRESS RELEASE FOR IMMEDIATE RELEASE TSX-V Symbol "GSM" September 29, 2008 Reno, Nevada GOLD SUMMIT STAKES SILVER BRECCIA-PORPHYRY TARGET IN NEVADA Gold Summit Corporation (TSX-V GSM) has staked a block of 136 lode mineral claims covering an exposed precious metal bearing, quartz breccia in Esmeralda County, Nevada. Surface samples of stockwork quartz veining assayed between and 0.02 and 12 g/t silver. The area is underlain by a regionally prominent, circular, coincident gravity and magneticanomaly, a distinctive pattern that underlies the subsurface signature of many of the large gold and copper metal producing districts in northern Nevada. The circular magnetic feature is interpreted as a buried intrusive with which a number of copper prospects that occur to the north may be related. The breccia corresponds to a strong resistivity anomaly discovered by Great Basin Exploration and Mining Company in 1990 who drilled a number of shallow reverse circulation holes to test for large open-pit gold mineralization. The open spaced nature of the quartz at surface indicates that deeper drilling is warranted for higher grade mineralization that may include gold and copper as well as silver. Gold Summit explores mostly in the United States for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM's primary properties, totalling 42 km2, cover four Tertiary epithermal vein districts in Nevada. All these have drill ready targets defined by surface work, most with bonanza grades inoutcrops or discovery drill holes. GSM is also conducting a lithium exploration programme in Esmeralda County on behalf of Black pearl Minerals. In western Ontario, Gold Summit is also exploring a nickel-copper prospect in mafic rocks near Dryden where diamond drilling is planned in mid October.
smilewithme
25/6/2008
21:45
Hi, I spoke to a couple of "Motley fools" at the Soco AGM about this share and I am hoping that this will be my "Soco" so please forgive me if I am talking out of my hat. Below is a hot snippet just off the press. "Gold Summit Corporation (TSX-V GSM) has agreed to sell a 100% interest in a lithium brine prospect to Black Pearl Minerals Consolidated Inc (TSX-V BLK) for a total consideration of $300,000 in cash and 3 million BLK common shares as well as certain acquisition costs. The prospect, located in Esmeralda County, Nevada, covers an area of about 31 square kilometres and was recently staked by GSM. The agreement is subject to approval by the TSX Venture Exchange." This $300k will come in handy to progress work on the "Monty Christo" project which is beginning to show results recently. (please read back a week or so on this board for other news on the excellent gold prospects for Monty Christo). The interesting thing here is "recently staked out by GSM" because this how Tony Taylor claimed Monty Christo. He is an very experienced geologist who originally worked for BP and must be past retirement age so he knows what he is looking for. A few of us met him in Winchester for a personal presentation and he is 100% genuine, he even treated our small group to dinner and beers that evening. Please DYOR on this share, I am just a thicko with faith (and a lot of shares) in this company so I hope that it works out for any that take the plunge - still cheap @10Cc. (that's Canadian cents) Cheers Roge.
arpy2
18/6/2008
21:33
From over the pond: "The news announced today dramatically should change the way investors perceive GSM. Here's the bottom line: GSM now offers the upside of an explorer, without the commensurate risk. We now have two areas of mineralized, economic ore: 70,000 ozs of gold resource at 6.5g/t gold, around which we had a hole hit an area fifty metres away with 5.7g/t, AND a high-grade, shallow vein with nice intersections of gold grades and intervals, hit in TWO places. Within each of those two intersections, are high segments of 40g/t gold! My goodness, what more do investors need to buy this stock? Both the 70,000 43-101 resource area will likely grow now, as well as the shallower high-grade vein. Even fully diluted (81.2M shs), the market cap of GSM is a silly US$6.8M. Unreal... I say again: the bottom line is that this stock now has more certain upside at these levels, absent the usual risk. I will be buying more again tomorrow if the stock is anywhere near these prices. GLTA GSM longs!"
smilewithme
18/6/2008
20:02
A.Fewbob Yes - this "could" be another FRA. What I like about GSM is that they have not been great promoting themselves but they have the geology. They already have a resource and are proving they have more. Some companies have the promotion skills but nothing to promote! GSM on the other hand actually has something. And Tony Taylor is a top geologist... Some top players got involved in the placement last year (given a wink by me) and are now helping to promote the company. It's only a matter of time in my opinion and a lot of patience!!!! :-)
smilewithme
18/6/2008
19:52
Thanks agian smile for putting me onto these, could they could be another FRA rocket? My little purchase of 72K shares just boosted the stock price by another 7%! These will really rocket when they start getting noticed!
a.fewbob
18/6/2008
19:48
A.Fewbob Good for you! And do you read the stockhouse boards? Another excellent post from dfergu: "Because I think the market doesn't get it, I hope you all will allow me to re-visit and compare the importance of the Discovery Vein that lead to the Midas mine, and the just announced discoveries at Monte Cristo. Again, please bear in mind that what is now the Midas mine may well produce 6M ounces of gold before it's all said and done. First, here's the Midas Discovery intercept: At about 500' depth, 7.8m of 16.8 g/t Au and 388 g/t Ag. At Monte Cristo, we have: First, MCC-65, at 72 metres depth, we hit 3.5m of 12.1 g/t Au; and, Second, GP-72 (drilled in 1989), at similar depth and 50 metres away, hit 7.6m of 16.9g/t Au. In each of these two holes, there is upwards of 40g/t Au within the larger intersection. Isn't it stunning how GSM's second hole's gold intersection is almost identical in length and grade to the Midas Discovery Vein? That said, there are at least three differences between the Midas Discovery Vein and Monte Cristo find. First, Midas has more silver. Second and third, though, are that not only are the Monte Cristo intersections much shallower (i.e., more economic), but there are TWO INTERSECTIONS. We already know MUCH more than Franco-Nevada did with their Midas discovery, because of that. One last thing, somewhat off topic (but not really)... Many folks folks have complained here, about what GSM was doing with all it's time and money over the years. Well, I can tell you this: they committed five years of painstaking digging and effort, to collect and agglomerate as much past data as they could from prior operators' drilling results. And look at how that's paid off. Heck, MCC-65, by itself, is significant. But by including the information garnered by tracking down the information from a hole drilled in 1989, GSM now knows a TON more about a high-grade, shallow, and fairly extensive interesection, than they otherwise would. Way to go, Tony and team. Good work"
smilewithme
18/6/2008
19:43
Just bought some more.
a.fewbob
18/6/2008
19:00
Thanks smile.
a.fewbob
18/6/2008
16:32
Some reaction from over the pond: "These are stunning results, IMO; the market hasn't even begun to appreciate them. I could go into some depth, but don't have time, so I'll cut right to the highlights: We now have two, high-grade intercepts from what may be a new, good-sized vein, at one-third the depth of resource we already have. For comparison purposes, here's what I said in a June 3rd post on this thread, regarding the Midas mine in Nevada: "Midas was discovered in an area that had been drilled by 5 major companies, with the best value of 7.8 g/t Au intersected in all that drilling. Then, hole No 8 of the deeper Franco programme intersected the Discovery Vein at about 500' depth. That intersection was 7.8m of 16.8 g/t Au and 388 g/t Ag and was the first indication of bonanza grades in the district. The principal ore shoot at Midas, the Colorado Grande, was found later. The Midas mine may yield 6 million ozs., when all is said and done." And what we now have with this press release? TWO high-grade holes comparable (IMO) to the intersection that lead to the Midas mine. MCC-65 announced today, is 3.4 metres of 12.1g/t gold; and, GP-72 is 7.6 metres of 16.9g/t gold. GP-72 is virtually of the same grade and interval of Midas Discovery Vein. (Yes, I know that Midas included nice silver intercepts, too, but, conversely, the shallow Monte Cristo hits are half the depth.) MCC-65 and GP-72 include intervals of ~40g/tonne gold. They are 50 metres apart and hit the mineralization at the same elevation. Hmmm... wonder what's between--and beyond--them? {:- ) In addition, MCC-63 hit 5.7g/t of gold at depth--50 metres away from the north of 43-101 resource, which could lead to an increase in the size of the resource, there. So, where might these holes lead? To both a new, high-grade zone at shallow depth, as well as the potential to expand the known, 43-101 resource at depth. Pretty awesome, if you ask me"
smilewithme
18/6/2008
15:35
http://www.cdnx.com//data/lcdb/DOCP/JUN2008/18K%40S01%21.DOC Gold Summit Reports 3.5 Metres of 12.1 G/T Gold in New Shallow Zone at Monte Cristo Reno, NV June 18, 2008 FSC / Press Release Gold Summit Reports 3.5 Metres of 12.1 G/T Gold in New Shallow Zone at Monte Cristo Reno, Nevada US, June 18, 2008 /FSC/ - Gold Summit Corporation (TSX - VX: GSM), ("GSM") announces receipt of complete assay data from the last three of a seven hole core drilling program on the Monte Cristo Property in west central Nevada, located approximately 50 km west north west of Tonopah. International Bethlehem Mining Corp. ("International Bethlehem") (TSX-V: IBC) has an option to acquire up to a 50% interest in GSM's Monte Cristo Property by incurring exploration expenditures of $3 million over four years. Minimum expenditure of $600,000 for 2008 has been met. The following table shows significant intersections assaying greater than one gram per tonne gold in the three drill holes: The core drill holes were planned to fill in large gaps within the existing drill pattern and all three intersected the target McLean Lode. Future plans include more systematic core drilling of the McLean Lode in an effort to increase and upgrade the present 43-101 compliant inferred resource of 331,000 tonnes averaging 6.5 g/t gold to indicated and measured status. Significantly, drill hole MCC-63 intersected the Lode 50 metres to the north of the resource area, thereby demonstrating a potential increase in its size. Drill hole MCC-64 did not intersect significant mineralization and is outside the resource area. The shallow high grade intersection in drill hole MCC-65 is evidence of an upper mineralized horizon in the system with epithermal characteristics similar to the Main Lode. Sampling of GSM's previous core drill holes within this upper zone has not been completed to date. However, assay records from historical reverse circulation holes drilled by Cyprus Copper in 1989 show a similar higher grade interval. Cyprus Hole GP-72, drilled 50 metre east of hole MCC-65, intersected an interval of 7.6 metres assaying 16.9 g/t gold, including a 1.5 metre interval assaying 39.4 g/t gold. GSM is presently examining 22 core previous drill holes in the area to document and sample the upper horizon. It has potential to provide another continuous high grade zone and could significantly increase the size of the McLean Lode. The new assays are from half cut HQ core at the Sparks Laboratories of American Assay using standard Fire/AA or gravimetric methods with checks provided by insertion of blank and standard samples. Quoted assays for Cyprus Hole GP-72 were from standard 1.3 metre RC splits assayed in Chemex Laboratories in Sparks using the Fire/gravimetric method with inserted standards.
smilewithme
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