NewswireToday - /newswire/ -
New York, NY, United States, 2008/03/24 - Mining MarketWatch Journal has published a review on St. Eugene Mining Corp. (TSX VENTURE:SEM). An exceptional risk-reward scenario exists, SEM is described as a "bottom fishers dream".
Mining MarketWatch Journal has published a review on St. Eugene Mining Corp. (TSX VENTURE:SEM). The review offers insight and opportunity afforded investors as they explore zinc/silver/lead targets at their Moyie Project, located 20 kilometres south of Cranbrook, British Columbia in an historic metal mining basin which stretches from Idaho’s Coeur d’Alene silver/lead camp to B.C.’s 150-million ton Sullivan zinc/silver/lead mine.
The full review may be found online.
An exceptional risk-reward scenario exists in St. Eugene Mining Corp. as this relatively young venture's story is more widely understood. Described as a "bottom fishers dream"; less than a scant $3M market cap (only 22M shares outstanding), experienced and capable management, a highly prospective silver–lead–zinc project that is also the site of a once significant historical (non NI 43-101) mine, numbers from recent drilling results support moving the property forward in a mining friendly region.
1) "St. Eugene appears ideal for investors looking to diversify into a quality speculative, yet highly probable, resource sector investment vehicle. It has only been about two years since SEM begun trading, in that short period they have fulfilled the representations made in their prospectus and move the Company to a point that they can step out of the quiet vacuum they existed in and take it to another level - they have a solid project with numbers to support it."
2) "St. Eugene Mining Corporation is named after the historic St. Eugene mine (located within SEM's mining concessions) which from 1900 -1911 produced 1.4 millions of ore grading 5% zinc, 15% lead and 7 OPT silver from three main ore shoots – Lakeshore, Moyie and St. Eugene. The St. Eugene mine was once described by the Canadian Department of Mines as "...the most important silver-lead mine in Canada. [see full review for source]" New mining technology also makes the Moyie project attractive again. SEM controls an 8 kilometres section of the St. Eugene mining camp (79 crown granted claims); this mine was previously operated by Cominco Teck Cominco Ltd. (NYSE:TCK) and was one of the premier silver/lead producers in Canada.
For the last couple years St. Eugene has been working the Moyie Project and producing affirming results (see full review for explanation). 2007 exploration included 3,385 metres of drilling to test four targets – Society Girl, North Break, John D. and Aurora, which could account for the location of possible ore bodies which appear to be aligned in a north-westerly direction, associated with the St. Eugene fault. Majority of drilling intersected high-grade zinc/silver/lead mineralization, in a geological environment which is similar in structure, grade and tenure to the ore shoots of the former producing St. Eugene Mine, one kilometre to the west.
The Company’s mining camp surrounds the town of Moyie, approximately 20 kilometres south of the city of Cranbrook in south-eastern British Columbia. It is situated on Provincial Highway 3/95 and the Crows Nest rail line of the CPR (Canadian Pacific Railway). The St. Eugene mine ranks third (plus one million tins) in production from this belt of sedimentary rocks. The Company controls 79 crown granted mineral claims and 10 staked mineral claims that encompass the St. Eugene mine and include the metal rich vein extensions. Falconbridge, now Xstrata PLC (LON:XTA), which controlled the majority share position in St, Eugene Mining Corporation (81.6%), sold this position to Management in 2001; this following an exhaustive review by Management of the camp’s ore controls that identified targets for other potential ore bodies on its holdings."