PAK 5.88% 1.8¢ pacific american holdings limited

Ann: Staking of Highly Prospective Gold Area in Idaho, page-10

  1. 202 Posts.
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    Nice little right up from Far East Capital.....

    "PAK pegs prospective gold ground in Idaho
    While Pacific American (PAK) has a substantial coking coal
    resource of 303 Mt in British Columbia, it doesn’t seem to
    be what the market wants right now. So, PAK is opening up
    initiatives on the gold front in order generate more
    speculative flavour. The first one was a drill-ready project
    east of Kalgoorlie. However, that doesn’t seem to have
    provided much joy to date with no exciting assays having
    being reported.
    PAK’s next foray into gold is in northern Idaho, USA, where
    claims have been staked following several months of
    assessing opportunities. You may recall the note on Revival
    Gold last week, covering a company with a 3 Moz ounce
    gold project in eastern Idaho. Revival emphasised how
    Idaho was a very good jurisdiction with a State-wide
    resource inventory of 26 Moz of gold.
    The geology of PAK’s claims is known to host high grade
    gold mineralisation at a project called Anderson Creek,
    based on historical records. Very little, if any, modern
    exploration has been undertaken. It is a grass roots
    exploration project that needs work on it, but there is no
    reason to feel anything but optimistic about what may be
    there. We watch with interest to see what other projects
    are added to the portfolio as a critical mass is being
    accumulated.
    PAK continues to be priced at “shell value”, with no credit
    being given to the coal project that could be worth tens of
    millions of dollar at the right stage of the cycle. The
    acquisition of the gold ground adds some timely flavour."

    Al
 
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