Jennings Capital Updates Buy Recommendation for SantaCruz Silver (TSXV:SCZ) (FSE:1SZ) - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, October 18, 2013 -. Investment firm Jennings
Capital has updated coverage on SantaCruz Silver (TSXV:SCZ) (FSE:1SZ). Following
news that the company had intersected a new high-grade silver vein at San
Felipe, analyst Kwong-Mun Achong Low reiterated his buy rating and 12 month
target of $2.75, a premium of 133% to the $1.18 price the day the report was
issued.
InvestmentPitch.com has produced a "video research alert" based on this report.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"SantaCruz" in the search box.
The company, which is focused in Mexico, has the producing Rosario project, two
advanced-stage projects, the San Filipe and Gavilanes, and an early-stage
exploration project, El Gachi.
Drilling on the Transversales vein, at its San Felipe Project in Sonora State,
confirmed the continuity of a new vein both along strike and to depth.
Additionally, 3 parallel veins have been identified at surface in the footwall
over the currently defined strike length of the main Transversales vein, but
have not been drill tested. These veins average 5 metres in width each.
Of the 11 drill holes reported, hole SCVT-02 reported 11.8 metres of 116 grams
per tonne silver equivalent.
The weighted average intercept of the reported assays is 2.6 metres of 199 grams
per tonne silver equivalent, with 69 grams per tonne silver, 2.7% zinc, 0.17%
copper, 0.99% lead, which is slightly lower than the current resource grade at
San Felipe. Drilling has traced the strike at Transversales to 200 metres and a
depth of 240 metres and it remains open along strike and at depth.
Arturo Préstamo Elizondo, President and CEO stated, "The confirmation that the
surface outcroppings of the Transversales vein appear well mineralized along
strike and to depth indicate a highly mineralized system. This, together with
parallel-mineralized systems and an untested structural corridor of at least one
kilometer significantly increases the potential of the San Felipe Project."
Jennings Capital analyst Kwong-Mun Achong Low stated, "We like the broader
exploration potential of San Felipe, in particular the Las Lamas vein that only
accounts for 5% of the approximately 50 million ounces silver equivalent
resource and has averaged silver grades above 140 grams per tonne during this
round of drilling."
According to management, Rosario continues to ramp up tonnage as additional
faces and stopes are opened.
Management expects throughput to achieve 300 tonnes per day by the end of the
year as both main veins contribute to production.
SantaCruz currently trades at $1.16, well below the $2.75 target price, and with
91.2 million shares outstanding, the company is capitalized at $105.8 million.
For more information please visit the company's website www.SantaCruzSilver.com,
call Neil MacRae at 604-569-1609 or email info(at)santacruzsilver.com.
For more information about Jennings Capital or to obtain a copy of their
research report, contact your nearest Jennings Capital office. Their branches
are listed on their website at www.jenningscapital.com.
About InvestmentPitch
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals., The company, with
close to 1,000 videos on its website, specializes in producing three minute
videos based on significant news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 18.10.2013 - 17:22 Uhr
Sprache: Deutsch
News-ID 307216
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