Wednesday, September 05, 2012

Nickel, Copper, PGM - Bitterroot Resources Has Its Fireworks Today BTT.v

  

  From the Bitterroot Resources news release this one looks like a pure area play at this moment. BTT.v has accumulated a very sizable land package in the area, it is right next to Rio Tinto claims and some Rio Tinto drill holes are just few hundred meters away from BTT.v property. 
  We think that the most important in this story is the volume - stock is strongly up with over 66.7% gain and 9.1 million shares traded at the moment of writing. It shows that any sign of life, some backing and Idea about the building up story can ignite the rally in the totally depressed stock.
  We guess that after all the Fear nobody likes to miss another Gold Quest in the making - that discovery story is the only one - but so many Juniors were totally forgotten and Slaughtered this summer that any vital signs can drive the crowd and expectations again.
  Everybody is chasing the same question now - who could be in Play next? Who can strike the new discovery, attract J/V partner or become a Target for M&A?


  Update: BTT.v has closed today at 0.075CAD with 66.7% gain and 12.9 million shares traded. Something is happening behind the curtain - as this NR can not really ignite such an interest from THE large Canadian brokers. We should see some real news soon, there are some rumors around that it could be a J/V partner or another deal made with the company. Rio Tinto could be the reason for the Fireworks like this, but we have to see it announced yet.
  It is always difficult to guess and chase the stocks, which caught the Fire already - this is why it is so important to do your homework and accumulate you collection of favorite Juniors with the real stories behind them early into the new Up Leg in the Cycle.

"Bitterroot owns 363 square miles of mineral rights in Michigan's Upper Peninsula, mainly in Ontonagon, Houghton, Baraga, and Iron Counties. The lands are subdivided into two general packages - the Voyageur Lands (257 square miles) and the Copper Range Lands (106 square miles). Bitterroot also holds mineral leases and prospecting permits covering 3,084 acres. Through its wholly-owned subsidiary, Trans Superior Resources, Inc., Bitterroot is one of the largest holders of mineral rights in the Upper Peninsula.

The Copper Range land package covers a portion of the famous Keweenawan copper district, which produced more than eight million tonnes of copper between 1845 and 1995. Bitterroot's Copper Range Lands have been subjected to limited exploration drilling since the 1960s. There are more than 100 past-producing copper mines, pits, and prospects located within or adjacent to this land package. In 2010, Bitterroot's ground-based and airborne geophysical surveys (AeroTEM) and geological mapping defined several drill targets prospective for copper and nickel. The Company has recently acquired additional leases and prospecting permits covering 2,300 acres (930 hectares) of mineral rights and is in discussions with potential joint venture partners, with the objective of drill-testing these targets later this year.

The Voyageur lands cover a diverse assemblage of Proterozoic sedimentary and volcanic rocks and have the potential to host a variety of minerals, including nickel, copper, platinum group metals and gold. Despite the extensive history of copper and iron mining in the western Upper Peninsula, the Voyageur Lands are at a relatively early stage of exploration. Within the Voyageur lands, Bitterroot has identified significant potential for platinum group metals (PGM) mineralization in the 35 square-kilometre footprint of the Echo Lake layered mafic intrusion. In 1997, Bitterroot drilled 3,270 meters (10,728 feet) in five core holes at Echo Lake. Drill hole EL-97-03 intersected ten flat-lying anomalous PGM-bearing horizons within the intrusion, with the highest-grade interval containing 1.01 grams Pt+Pd+Au/tonne over 5.42 metres (17.8 feet), within a 21.3 metre (69.8 feet) interval grading 0.52 grams Pt+Pd+Au/tonne. The Echo Lake intrusion has potential to host additional reef-type PGE mineralization along strike from the currently known mineralized zones and Ni-Cu-PGE mineralization along its contacts or within satellite intrusions and feeder dykes. "



Update September 9th, 2012 What is the real story behind it? Almost no retail following.

Bitterroot Identifies New Targets in Michigan; Shares Jump 55% Higher, Most Active on TSXV


"Following recent drilling and land acquisition activities by Rio Tinto on parcels adjoining Bitterroot Resources Ltd's (BTT.V) mineral rights in Michigan, a Bitterroot-commissioned aeromagnetic survey has been completed. Analysis of data from the aeromagnetic survey has identified a number of new targets located on Bitterroot's 100%-owned mineral rights. Several of Rio Tinto's drill collars are located within 180 metres of Bitterroot's mineral rights.
The new targets have potential to host conduit dyke systems which are favourable for the accumulation of high-value Ni/Cu/PGM-bearing sulphides similar to Rio Tinto's high-grade Eagle deposit (3.2 million tonnes @ 3.89% Ni and 3.04% Cu). The Eagle deposit is located in a similar geological setting, approximately 75 km northeast of the area covered by Bitterroot's aeromagnetic survey. The Eagle mine is under construction and is expected to be in full production in 2014."



Gold: The Best Charts and Fundamentals - Prepare For The Fireworks In Junior Miners

"We would like to share with you today the best Charts and articles, which has caught our attention recently - it is the case when the good picture is better than thousand words - some of them are screaming about the best Entry Opportunity in years we are following these markets."



Following recent drilling and land acquisition activities by Rio Tinto on parcels adjoining Bitterroot Resources Ltd's (BTT; TSX-V) mineral rights in Michigan, a Bitterroot-commissioned aeromagnetic survey has been completed. Analysis of data from the aeromagnetic survey has identified a number of new targets located on Bitterroot's 100%-owned mineral rights. Several of Rio Tinto's drill collars are located within 180 metres of Bitterroot's mineral rights, testing the area shown as "Target 2" on the attached map.

The new targets have potential to host conduit dyke systems which are favourable for the accumulation of high-value Ni/Cu/PGM-bearing sulphides similar to Rio Tinto's high-grade Eagle deposit (3.2 million tonnes @ 3.89% Ni and 3.04% Cu). The Eagle deposit is located in a similar geological setting, approximately 75 km northeast of the area covered by Bitterroot's aeromagnetic survey. The Eagle mine is under construction and is expected to be in full production in 2014.

The attached map shows magnetic signatures and land ownership on four of Bitterroot's Ni/Cu/PGM targets, which are similar to the magnetic signature of the Eagle deposit. Other targets manifest themselves as more tabular features which may represent the remnant keels of larger intrusive bodies.

Bitterroot controls a growing portfolio of nickel/copper/PGM exploration targets within its 360 square miles of wholly-owned mineral rights in the Upper Peninsula of Michigan.

Management is currently assessing various financing and industry-related options for the exploration of these targets.

Mr. Charles Greig P.Geo is the Qualified Person responsible for the technical content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael S. Carr
Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.





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