Livewire Exploration Watch

John Robertson

PortfolioDirect

Ark Mines reported gold intercepts measuring 3 metres at 13.41 g/t, 2 metres at 12.9 g/t and 2 metres at 6.65 g/t from a 22 hole drilling program at its Golden Honcho prospect in the Pine Creek area adjacent to the idled Francis Creek iron ore mine. The results showed laterally continuous, steeply dipping quartz veins. The company is targeting shallow oxide resources to deliver against a regional tolling agreement. Walkabout Resources reported a 20 metre intersection grading 12.65% total graphitic carbon from a depth of 12 metres at its Lindi prospect in Tanzania but this might not be enough to compete with higher grade intersections from graphite-bearing outcrops in other companies’ tenements. Well SNE-2, in which FAR Limited has a 15% contributing interest, has been spudded 100km off the Senegal coast in 1,100 metre deep water. Drilling to a depth of 2,770 metres and flow testing over five weeks will follow up a November discovery of a 95 metre oil column with a gas cap reported by operator ConocoPhillips. Flow testing will be critical to an assessment of commerciality.


John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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