willem1 schreef:
Middelkoop Discovery Alert Canplats Resources (CPQ.V)
Shares o.s. 49 mln
Market cap C$ 25 mln (C$ 0.50)
" Discovery of significant gold, silver and base metal mineralization "
Hello all,
Today’s press release confirms Canplats Resources has made a significant gold discovery in Mexico.
Summary
The company published results from the first three holes drilled in the Represa Zone at the newly discovered Camino Rojo project in the State of Zacatecas, Mexico. These holes confirm the presence of a wide spread mineral system at the Represa Zone, about which the company published a press release October 25. All three holes intersected significant gold mineralization starting from surface. Holes CR-01 and CR-03 were mineralized over their entire length and contained 146 meters averaging 1.10 grams per tonne gold and 147 meters averaging 1.05 grams per tonne gold, respectively. Both of these holes ended in mineralization and will be deepened later in the program. Further results will be released as they are received. Given the current market cap of only around C$25 million an investment in this small junior exploration company is very interesting right now.
How to play this
The chart below shows clearly shares of Canplats are not overbought right now. I expect a quick jump at market open. Often a few hours into trading shares come down a bit. Another good opportunity will be presented after the first correction in a few days time. I own shares but will add some today.
Willem Middelkoop, November 26th 2007
www.discovery-investing.com