This is an example of why investors take chances on Exploration.
From $0.19 to $1.20 in a few days. Is it repeatable? That is
upto mother nature. The NorthRok Property of Colorado Resources
surprised even them I would say when last month they hit Copper
on their first drill hole core sample. This is risky, from here on as
the entry price is 5x last months price , but it could get even
better so you might want to read on. www.coloradoresources.com
"Drillhole NR13-001 was targeted to test the northern part of the coincident soil geochemical, magnetic and chargeability anomalies and the entire length of hole NR13-001 returned 333.0 m of 0.51% Cu and 0.67 g/t Au."
Translation: We found 333 meters of rock with high % copper content and gold on our first drill hole. We may not have a mine, but if things get better the more holes we drill we will be very encouraged.
Their are 38.7 million shares in this company (50M if you add warrants and options) so a month ago it was an $8 million dollar company, today its $40 million, all because of what they may have found in the ground worth around $4 a pound/ (hey that rhymes)
You can use this Interval Calculator (by Brent Cook) to crunch your own numbers.
Just enter number of meters and the
% or gram/Tonne into the Calculator, read more on their site for how to ballpark value of new discoveries.
The first 242 metres of the hole was hosted in a typical porphyry copper style altered monzonite intrusion and returned 242.0 m of 0.63% Cu and 0.85 g/t Au. The last 91 metres of the hole intersected altered volcanics which weakened away from the intrusive contact but still returned 0.20 % Cu and 0.19 g/t Au.
WHERE IS NORTH ROK LOCATED
BRITISH COLUMBIA CANADA
The results are further summarized in the table below:
"Drillhole NR13-001 was drilled at a -45 degree dip towards the northeast and the intervals above represent length down the hole. The Company has yet to collect sufficient data to determine how the downhole drill intervals might relate to the actual true thickness of mineralization."
[Quote Translation: If more holes and more data confirm how thick the mineral belt is for copper and gold, we could have something valueable here.]
"The samples were analyzed by Acme Analytical Laboratories of Vancouver, British Columbia." *
(*No relation to the Acme Dynamite Co. below of which the Coyote and Roadrunner use as their main supplier of explosives for their business efforts in blowing up rocks on TV)
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.