This morning Calibre Mining (CXB.v) gave us a NR on drill assay results from its JV project with Centerra, “Cerro Aeropuerto” and decided to use this headline:
“Calibre and Centerra Gold Drill 53.7 Metres Grading 10.47 g/t Au at Cerro Aeropuerto and Advance New Gold Mineralized Trends, La Luz Gold Project, Siuna, Nicaragua”
“Oh wow, 53m of ten gram gold! Great cut!”, you may think. Errrr…no, it’s bull. Once you start reading the NR you get to see the cruel reality, as sketched out by the handy-dandy drill hole interval calculator:
That cruel reality is two skinny gold veins, then 50 metres of 1.75 g/t rock, all of that over 200 metres downhole. More smearing than the Papanicolaou department in a large city hospital. If you don’t know that’s uneconomic, stop trying to bet on junior mining now and put your cash in T-Bills. Or Bitcoin. Or uranium. Anything, just get yourself out of juniors now.
The good news about this is that we now know what type of crap CXB.v will pull in order to get you buying their shares and that means we can now put a big fat red line of crayon through their name and state “Do Not Touch These Bullshit Merchants With A Barge Pole”, at least until they change their BS-peddling management team.
Do. Not. Feed. The. Animals.
UPDATE post close. A chart:
