hammerbuy : Toachi Mining Inc.
Kwantes refreshes Toachi Mining buy
2016-12-01 21:49 ET - In the News
James Kwantes, in the Nov. 2, 2016, edition of Resource Opportunities, refreshes his buy of Toachi Mining Inc., recently 45 cents. Mr. Kwantes previously said buy on June 21, 2016, at 35 cents. A $1,000 investment then is now worth $1,285. Toachi is earning a 60- to 75-per-cent interest in the La Plata project in Ecuador, one of the highest-grade VMS (volcanogenic massive sulphide) deposits in the world. Recent drilling highlights include 10 grams per tonne gold and 29.43 per cent zinc over 3.7 metres, forming part of a wider interval grading 4.04 g/t gold and 9.18 per cent zinc over 12.7 metres. That result came from the southern part of the main VMS deposit. In another area, the northern part of a former open pit, a different hole returned 4.16 g/t gold and 5.81 per cent zinc over 8.4 metres, indicating a new zone of mineralization that is distinct from the existing VMS lenses. Toachi is so encouraged by its drill results that it has added a second rig to its program. It plans to complete a resource estimate in the first half of 2017 and a preliminary economic assessment shortly thereafter. Mr. Kwantes recommends buying the stock for exploration upside and the prospect of a rapid advancement to production.