From the news release this one looks like a pure area play at this moment. Bitterroot Resources has accumulated a very sizable land package in the area, it is right next to Rio Tinto claims and some Rio Tinto drill holes are just few hundred meters away from BTT.v property.
We think that the most important in this story is the volume - stock is strongly up with over 66.7% gain and 9.1 million shares traded at the moment of writing. It shows that any sign of life, some backing and Idea about the building up story can ignite the rally in the totally depressed stock.
We guess that after all the Fear nobody likes to miss another Gold Quest in the making - that discovery story is the only one - but so many Juniors were totally forgotten and Slaughtered this summer that any vital signs can drive the crowd and expectations again.
Everybody is chasing the same question now - who could be in Play next? Who can strike the new discovery, attract J/V partner or become a Target for M&A?
Gold: The Best Charts and Fundamentals - Prepare For The Fireworks In Junior Miners
"We would like to share with you today the best Charts and articles, which has caught our attention recently - it is the case when the good picture is better than thousand words - some of them are screaming about the best Entry Opportunity in years we are following these markets."
September 05, 2012
New Ni/Cu/PGM Targets Identified In Michigan
Following recent drilling and land acquisition activities by Rio Tinto on parcels adjoining Bitterroot Resources Ltd's (BTT; TSX-V) mineral rights in Michigan, a Bitterroot-commissioned aeromagnetic survey has been completed. Analysis of data from the aeromagnetic survey has identified a number of new targets located on Bitterroot's 100%-owned mineral rights. Several of Rio Tinto's drill collars are located within 180 metres of Bitterroot's mineral rights, testing the area shown as "Target 2" on the attached map.
The new targets have potential to host conduit dyke systems which are favourable for the accumulation of high-value Ni/Cu/PGM-bearing sulphides similar to Rio Tinto's high-grade Eagle deposit (3.2 million tonnes @ 3.89% Ni and 3.04% Cu). The Eagle deposit is located in a similar geological setting, approximately 75 km northeast of the area covered by Bitterroot's aeromagnetic survey. The Eagle mine is under construction and is expected to be in full production in 2014.
The attached map shows magnetic signatures and land ownership on four of Bitterroot's Ni/Cu/PGM targets, which are similar to the magnetic signature of the Eagle deposit. Other targets manifest themselves as more tabular features which may represent the remnant keels of larger intrusive bodies.
Bitterroot controls a growing portfolio of nickel/copper/PGM exploration targets within its 360 square miles of wholly-owned mineral rights in the Upper Peninsula of Michigan.
Management is currently assessing various financing and industry-related options for the exploration of these targets.
Mr. Charles Greig P.Geo is the Qualified Person responsible for the technical content of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
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