SARASOTA, Fla., Nov. 16, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.: Rincon Resources (OTCBB:RIRI),Kintera Inc. (Nasdaq:KNTA), Intuit Inc. (Nasdaq:INTU) and Global Crossing Ltd. (Nasdaq:GLBC).
Aggressive stock traders and investors will want to take a good look at Gold exploration and development company Rincon Resources (OTCBB:RIRI). Monday, after the bell, the company issued a press release reporting the results of gold analyses of fifty-five rock samples collected from the Main Prospect on the Tudor Property in Tudor Township, Ontario.
In early fall 2004 rock samples were cut from mineralized sections exposed in trenches crossing the prospect using a motorized diamond-bladed saw. Samples of gold-bearing rhyolite cut from the trenches were submitted to SGS Lakefield Ltd., an independent laboratory located in Lakefield, Ontario. SGS Lakefield analyzed each sample for gold using a standard fire assay technique. The first phase of channeling sampling tested four parallel-mineralized zones exposed in trenches in a 200 metre section of the Main Prospect between lines 10+00S and 12+00S. The zones tested include the "Hangingwall Zone," "Footwall Zone," "Kristy Mist Zone" and the "VG Zone".
The highest result, 59.7 g/t Au (1.7 oz/t) came from the "VG Zone" in Trench 12 S cut within a broader section which averages 2.3 g/t Au over 3.0 metres (0.067 oz/t/ 9.8 ft). A second channel cut interval on strike averages 7.18 g/t over 2 metres (0.21 oz/t/ 6.6 ft).
The "VG Zone" was tested again 50 metres north in Trench 11+50S and 100 metres north in Trench 11+00S. In Trench 11+50S, a 0.34 cm section assayed 7.48 g/t Au (0.22 oz/t Au/ 1 ft) and a parallel mineralized zone assayed 10.3 g/t Au over 0.25 m. In Trench 11+00S, the "VG Zone" assayed 1.29 g/t and 5.2 g/t Au (0.03 and 0.152 oz/t) over two parallel sections, each 0.3 metres (1 ft) wide.
The "Footwall Zone" was tested in Trench 10+50S and 11+15S. In Trench 10+00S, a 2.5 metre section averaged 2.5 g/t Au across 2.5 metres (0.07 oz/t/ 8.2 ft) was cut within a broader section averaging 1.3 g/t Au over 8.7 metres (0.039 oz/t/ 28 ft). The "Footwall Zone" strikes over 1,000 metres along the east contact of the rhyolite unit.
The "Kristy Mist Zone" was tested in Trench 10+00S and Trench 10+20S. A series of short consecutive samples cut from a 1.7 metre (5.6 ft) wide section that is exposed in each trench ranged 1.4 to 15.4 g/t Au (0.04 to 0.45 oz/t). The "Kristy Mist Zone" has been traced for a distance of 350 metres. South of Trench 10+20S, the "Kristy Misty Zone" is off-set to the east by cross-cutting faults and forms the north extension of the "VG Zone".
The "Hangingwall Zone" was tested in Trench 10+00S and in a small trench at 9 +80S. Narrow intervals assayed 0.4 to 7.45 g/t Au over widths of 0.2 metres or less. This zone parallels the Kristy Mist Zone for at least 250 metres.
"This program is demonstrating the high-grade potential of the gold-bearing structures cutting the rhyolite unit hosting the Main Prospect," said Graeme Scott, President of Rincon. "We have many more trenches containing similar mineralization which extends this mineralization at least 1,000 metres to the north. Historic drill records have intersected similar grades down to 70 metres vertical and all mineralized zones appear to be open at depth. We certainly feel we are building the foundations of an easily accessible gold resource."
The sampling cutting program will continue to test the mineralization exposed in the trenches as long as weather permits. Currently, an additional 38 rock samples have been submitted to SGS Lakefield for analyses and results are expected within two weeks.
The 1,200 hectare Tudor Gold Project, located in Tudor Township in the historic Madoc-Bancroft mining region of the southeastern Ontario consists of 22 mining claims covering 2 gold-bearing structures. Rincon is earning a 75% interest in the property. The 2004 field season is under the supervision of Robert J. Dillman, P. Geol.
RIRI is currently trading around 13 cents a share.
Other Stocks of Interest;
Kintera Inc. (Nasdaq:KNTA)
Software service provider to nonprofit organizations, Kintera, Inc., announced Monday that it has signed a definitive agreement with Intuit Inc. (Nasdaq:INTU) to acquire American Fundware, Inc. Kintera and American Fundware expert product developers said it plans to build accounting functionality into the Kintera Sphere enterprise-grade software platform, providing a unified system for nonprofits and governments to manage, and grow, their business.
KNTA closed Monday's regular trading session up 8 cents at $8.08. INTU finished the session at $44.03, up 55 cents.
Global Crossing Ltd. (Nasdaq:GLBC)
Monday, Telecommunications service provider reported a loss for the third quarter of $102 million for the, wider than a loss of $80 million for the same period last year. The company reported that its revenues for the quarter declined to $617 million from $696 million a year ago.
GLBC closed Monday's regular trading session at $14.57, down 49 cents.
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