When are WEL managment going to stand up and voice that the Horseshoe lake fold is owned 100% by Wildcat. I think it is fundementally important that WEL make this very clear as the way this is written it diminishes the significance of the fold at Horseshoe lake. yet at the same time it clearly states that the Horseshoe lake fold as being the conduit for the gold enrichment. They also clearly state holding "ALL" the hagingwall Volcanics. Pretty hard to prove that when there has been so little work done on the Mike Power Zone. They could say most but certainly not "ALL"
I figure the significance of the fold has yet to be established and certainly cannot be discounted, unless your motive is to sandbag a potential target.
JMHO
A part of the Bull and Bear report (posted for a while on SGR site). Looking go
posted on Nov 24, 09 05:47PM
“We are finding lots of gold everywhere,” says San Gold CEO Dale Ginn. “If you look at just our most recent four discoveries, we have strong potential for millions of ounces of additional gold near our current mines.”
The company’s geologists believe they know why San Gold has been so successful in finding new gold deposits – each deposit is part of a geologic structure, a 10-km faulted fold axis extending eastward from Horseshoe Lake to the San Gold #1 deposit. The axis itself appears to be the conduit for the gold that, over time, seeped out perpendicular to the axis, creating a network of large gold veins.
San Gold’s Hinge, Cohiba, L13 and the recently discovered Fire Break Zone are all along the southern side of the fold but may be mirrored on the northern side as well. Company geologists are so convinced that their geologic model portends that even more high-grade gold zones remain to be found, San Gold has positioned multiple drill rigs both above and below ground.
“We found the Fire Break zone in early November. It is massive with substantial amount of gold,” said Ginn. The “Fire Break” is located just south of the Hinge and Cohiba Zones.
In addition, San Gold recently secured control of most this “Golden Fairway” source area – and the entire western end of the fold – through an earn-in agreement with StrikePoint Gold. According to the agreement, San Gold can earn a 50% undivided interest in StrikePoint’s 8,883-acre property, which is adjacent and to the north and northwest of San Gold’s Rice Lake Mine, Cartwright deposit and the high-grade gold Hinge Mine and Cohiba Zones.
Significantly, the StrikePoint property’s geology is similar, if not identical, to the hanging wall volcanic rocks hosting San Gold’s Hinge and Cohiba zones.
“As a result of this joint venture, all of the hanging wall volcanics that host the high-grade Hinge deposits, together with their important structural elements, are now accessible to San Gold, at surface as well as within possible important western and northern extensions.”
StrikePoint Gold will be the operator of the joint venture project. “This agreement consolidates the Central Rice Lake Belt structural domain that has hosted over 95% of the Rice Lake Belt’s recent and historic gold production,” says StrikePoint Gold CEO Richard Boulay.
