Currie Rose Resources (CUI, TSX-V) – SPECIAL ALERT
Currie Rose was added to the BMR Portfolio at 16 cents this past week after we completed a considerable amount of due diligence on this company which has been publicly trading under the same name with no consolidation for nearly 40 years…it has also had the same President, Harold Smith, for the past 17 years…so what has transpired with this company that has us so excited?…the explosion in the Gold market and the success other companies are having in Tanzania has made Smith realize that his company’s assets in that country, first acquired in 2005, are undervalued…he’s getting the word out and is going to aggressively tackle 2 major and highly prospective projects – Mabale Hills, where Currie Rose made a discovery at Mwamazengo several years ago when it first started in Tanzania, and Sekenke where the company has assembled a large land package surrounding the former Sekenke Mine, one of the very first Gold mines in Tanzania which was in production in the first half of the 20th century…we have done our research on Sekenke and we have more to report on that project in the days ahead – in short, we believe Sekenke is another Granada-type situation and has tremendous potential to quickly develop into a “company maker” for Currie Rose…right now, Currie Rose is drilling its Sisu River Property at Mabale Hills (a few kilometres northeast of Mwamazengo)…a 3,000 metre RC drill program is in progress at Sisu River where “significant ‘in-situ’ Gold mineralization” exists according to a 2005 Technical Report…Sisu River has never been fully or properly explored and the current drill program is expected to deliver some answers regarding this property, in particular the extent of the Gold mineralization… this is a VERY interesting target which is hosted within felsic volcanic rocks, generally considered to be favorable hosts for Gold in greenstone belts around the world…rock chip sampling by a previous operator returned values as high as 553 g/t Au…random grab samples recently collected by Currie Rose’s geologist, over an area 150 metres by 30 metres, also returned interesting numbers with 6 of 13 results grading better than 5 g/t Au including one as high as 89 g/t Au…Gold is present at Sisu River, it’s close to surface (artisanal miners made their own discovery there about a year ago), and could be disseminated throughout the rock…in otherwords, it doesn’t appear they’re chasing a narrow vein structure…Currie Rose has a well thought out drill plan and the first round will blanket the anomaly with 25 or so holes drilled to depths of approximately 100 to 125 metres…record levels of volume for this stock started in mid-August and that’s a very bullish sign…over 6 million CUI shares traded this past week on the CDNX, including 2.1 million Friday when the stock closed at a new 52-week high of 19.5 cents…a breakout through resistance at 20 cents appears imminent…
