Gold in the Pantry: Bayhorse, Brandywine

The Brandywine Gold Project

The trend is your friend!

Gold just hit $2900. Bayhorse Silver’s (BHS.V) shareholders are waiting for the assay results from its first underground hole in the Bayhorse mine in Oregon. The company has confirmed it has hit a breccia which is encouraging. How encouraging? Who knows. They are drilling blind and towards the VTEM anomaly. Whether the breccia will be mineralized is the question but, if it is mineralized, it simply raises a hundred other questions. Finding bits of copper, silver, zinc, antimony and, yes, gold would be great but this is really a geologist’s hole. It has the virtue of making a serious downhole IP program a possibility and that would give the geos a 3D look at the structures surrounding the mine. Valuable information, to be sure, but unless there is significant mineralization in the core I expect the BHS shares to continue to trade around their current $0.07 for a while, unless…

It will not have escaped my readers’ attention that gold broke through $2900 today. Last week I was writing about how $2800 would cause a revaluation of junior gold explorers. That will happen but it is a slow process. Banyan (BYN.V), 7 millon ounces and rising, is up a couple of cents, Cartier Resources (ECR.V), 3 million ounces with a bullet, is up a penny.

$2900 gold also means that companies like my pal Graeme O’Neill’s Bayhorse are taking a look at projects which have been shelved. Is there gold in the pantry? Bayhorse is fortunate because it has its Brandywine gold project, a few miles away from the Whistler Mountain ski resort, in the cupboard.

(And now, well this is the good stuff…)