Colorado Resources (CXO:TSXV)

Much hyped Colorado Resources (CXO:TSXV) announced assay results from 9 additional holes at their North ROK property, located 15km northwest of Imperial Metals’ (III:TSX) Red Chris mine in British Columbia.  The company has struggled to find results that impress the markets like their discovery hole did with 242m of 0.63% copper and 0.85g/t gold.  Highlights of this latest batch include hole NR13-013 which hit 402.2m of 0.28% copper and 0.27g/t gold from a starting depth of 162m.  This hole was drilled southeast along strike from their discovery hole.  The mineralization appears to remain open along strike in both directions and at depth.

Adam Travis, President and CEO of Colorado Resources, commented: "In a mere four months since our initial discovery hole was announced, we have completed nearly 6,000 metres of drilling, enlarged the North ROK porphyry body to over 500 metres in strike length, maintained average grades of over 0.50 per cent copper equivalent (0.30 per cent copper and 0.37 gram per tonne gold) in a total of over 1,800 metres of mineralized intersections, and returned significant porphyry mineralization from 10 of 12 holes."

The market appears to be unimpressed by these results with CXO trading down $0.21 per share or 30% at the time of writing.

News Release: Colorado Resources Announces 402m of 0.28% Copper and 0.27g/t Gold in Step-out Hole

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Colorado Resources (CXO:TSXV)

Colorado Resources (CXO:TSXV)