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Sector NewswireTM Sector: Mining - Metals and Minerals : Sub Sector: Precious Metals :
News Release - November 5, 2009 2:36 PM ET
Journey Resources Low-Cost Strip Mining of High Grade Charay Gold-Silver Project and New Gold Resource Estimate on Musgrove Imminent and Projected to Double
Journey Resources Corp. (TSX-V: JNY) (Frankfurt: JL4) (US Listing: JNYRF) President provides interview with Mining Journal regarding status of planned low-cost strip mining of high grade vein-hosted Charay Gold-Silver Property, Mexico and new gold resource estimate on Musgrove Creek expected ~Q1 2010.
NEW YORK, NY, November 5, 2009 /Sector Newswire/ - Mining MarketWatch Journal has published review on Journey Resources Corp. (TSX VENTURE: JNY) (Frankfurt: JL4) (US Listing: JNYRF) and interview with President and CEO of Journey. The review and interview offers insight and opportunity afforded investors as the Company is poised to take their 100% owned high grade Charay gold-silver deposit into low-cost strip mining operation. Additionally, a new gold resource estimate on Musgrove Creek is expected ~Q1 2010 and the Mining Journal projects at least a doubling of the current 313,822oz gold resource.
The full review, interview, and valuation commentary may be found at: http://miningmarketwatch.net/jny.htm online.
Excerpts:
"Journey Resources Corp. (TSX-V: JNY) is poised for significant upside share price revaluation as two of their 100% owned gold projects are poised for major developments that will fundamentally change the inherent value of the Company. Journey Resources’ Charay property is a high grade vein-hosted gold-silver project that posses a technical report that places the operation ready for immediate production. With blasting permits received, the company will be shifting key personal to the Charay property to take the first 35,000 tonnes of material that is essentially at surface. With an average grade of 18.75g/t. Mining MarketWatch believes an initial 24,000+ oz of gold will be mined at a cost of ~US$100/tonne. This scenario will cash flow the expansion of the property, which is open at strike and at depth; the deposit has only been drilled to 50m with every hole intersecting substantial mineralization and the highest grades being the deepest holes. Mineralization is mesothermal and later low sulphididation epithermal systems. The ongoing cash flow will enable advancement of all their projects without further dilution to the share structure and most importantly prove up their flagship Musgrove Creek Idaho gold project (currently with resources of 313,822oz gold) towards their 1Moz+ gold target. JNY.V appears undervalued with only ~70M shares outstanding and trading under CDN$0.15, a multiple upward revaluation appears readily in store."
The full review, interview, and valuation commentary may be found at: http://miningmarketwatch.net/jny.htm online.
This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. The term investment advisory refers to the fact the reader is being advised there is a publication on an item that is also an investment, and not advice to buy or sell. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.
SOURCE: Sector Newswire Per: Mining MarketWatch Journal
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