The potential of Kent Exploration’s (KEX, TSX-V) Gnaweeda Gold Property in western Australia has been underscored by a bonanza grade discovery by Australian-listed Doray Minerals just 8 miles from Kent’s Turnberry Prospect which was just recently drilled.
We are going to be reporting more on this important development later today. Also, it appears some investors were confused by Kent’s news release which was issued late in yesterday’s trading session. The grades referred to in the opening paragraph were historical numbers and NOT the assays from the five holes just drilled at Turnberry. Those assays are expected around the middle of May.
The five holes at Turnberry targeted shear and alteration zones and were intersected as planned. The fact that GNAD-4 was extended by almost 40 metres suggests the geologists saw something they liked.
We are very bullish on Kent’s Gnaweeda Project as regular BMR readers know. The nearby success of Doray Minerals – that stock has skyrocketed on the Australian Exchange – is likely going to have an impact on Kent’s share price as market awareness increases.
Kent is trading at just 17 cents as of 8:35 Pacific time this morning and we consider it an immediate buy based on the above.
