The Dog who caught the Car

Early stage junior resource companies are always dreaming of hitting it big, finding the elephant. But there is the old story about the dog who caught the car it was chasing. What now?

Hercules Metals (BIG.V) was looking for silver in an area where there were very favourable indications of the presence of silver. Old mines, geology very similar to the rhyolite which Bayhorse Silver (BHS.V) had encountered at the rich Bayhorse Mine. But then it did some IP and sank a deep hole. All of a sudden, BIG was on the hunt for a copper porphyry at the suture of the Izee/Olds Ferry terranes.

Now the BIG story has the beginnings of a fairy tale ending. Barrick took a look at the results and decided to invest in the company putting in 24 million dollars. The share price went from a quarter to a high of $1.40. Which was great until the season’s drilling turned out to be disappointing. Lots of smoke, but the porphyry, if it is under Cuddy Mountain, is way under. At least where BIG has drilled so far. It is not enough to have a deposit, it has to be an economic deposit and 800 meters below surface is only economic if there is a lot of very high-grade. So far, BIG has not hit the grades needed for Cuddy Mountain to be viable. Maybe this season when BIG will be drilling with a different, shallower array of targets.

Meanwhile, Barrick and a number of other companies have been staking hard. All the way up the Snake River to Bayhorse Silver’s Pegasus Project.

And now the paywall falls. There are a couple of dogs wondering what the heck to do with their captured cars.