More than just Crystal in this Exploration companies projects.
We recently heard the story on Crystal Exploration (TSX-V: CEI), a precious minerals exploration company with both gold and diamond assets up in Nunavut.
We dug a little deeper into this company and we like what we see so far.
Their 100% owned projects are fortuitous in that they have both significant gold and diamond potential. This means possible opportunities to get exposure to 2 different companies if they eventually do a SpinCo. and split the assets into 2 separate companies
Here are 4 key reasons why we like them:
- Gold mine is located within 20 km from Lupin Gold Mine, a past producer of 3.3 million gold oz. at 9 g/t average grade
- Great drill results:
- DDH 87-13, 4.86m at 63.09g/t gold (Cominco Ltd.)
- DDH 93-01, 4.55m at 20.11g/t gold (Echo Bay Mines)
- DDH 94-11, 5.55m at 12.70g/t gold (Echo Bay Mines)
- DDH 95-05, 7.70m at 11.78g/t gold (Echo Bay Mines)
- Diamond mine on 1,200km2 land, with 22.7 carat & 1.6 carat gemstones recovered
- Team has a track record of advancing exploration projects through to production scenarios
They recently commenced its gold drilling program at its 100% owned Contwoyto Gold Project, with pending assay results for the gold drilling program shortly.
Crystal also has plans to release their diamond chemistry results at its 100% owned diamond bearing Muskox, Contwoyto and Hood Projects. These projects are in the same areas as the largest diamond mines in Canada – Diavik, Ekati and the recently opened Gacho Kue (expected to produce 54 million carats of diamonds over its lifetime making it one of the top 10 producers in the world).
There has not been a major diamond discovery in a long time and Crystal Exploration hopes it can be the next big one.
They have increased their chances by containing exploration cost through using data gathered from historical drilling to develop the highest priority drilling targets. There are six high-priority drill targets that remain untested and the Diamond chemistry work is in progress to support the new target opportunity and to generate additional targets to the drill-ready stage.
Keep this one on your radar and bookmark this page as you might be coming back to in in the future to kick yourself.
Share Price : $0.075
Shares Outstanding ~37M