Nice to see PEZ.v moving again!

Bob Moriarty wrote on April 16, 2007:

Quote:

La Juliana has all the potential for being a Mulatos size project. There is oxidized, visible gold at surface, it is on the same NW running trend as a major deposit only 6 km away already in production and surface sampling indicates the potential for bulk tonnage. Grades are similar to Mulatos and they have scheduled the start of the lie detector machine (Drilling) for the next few weeks. This project alone has company making potential.

Now this from today’s PEZ News Release:

Quote:

Results have been received from drill testing of potentially higher-grade portions of the Juliana option in southeastern Sonora state. The results reveal gold mineralization but failed to meet the company's minimum requirements, so the option to acquire the project has been relinquished and the ground returned to the vendor.

Ouch! Moriarty makes mistakes, too!

I have to admit I am a little disapointed.

I am a little surprised at PEZ's strength today, quite impressive. I have a fair sized position in PEZ I may trim this one a little in a month or so, probably just before I go to Mexico. Just curious, how many own this one.

I have a little. I bought it up to 3% of my portfolio after you started talking about it, then I trimmed back to about 1% to buy more MMG and others...

I had more PEZ a few months ago but cut back to buy some other stocks. Wish I had hung on to it longer!

Although there has been recent purchases by CEO Freeman, there has also been too much insider buying and selling of company stock for my taste.

http://www.canadianinsider.com/coReport/allTransactions.php?ticker=Pez

I have sent an intention update to paid subscribers.

Not a bad report, huh?

Pediment Exploration Drills 12.19 m of 19.87 g/t Gold Within 84.12 metres of 3.79 g/t Gold

11:15 EDT Monday, July 30, 2007

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 30, 2007) - Pediment Exploration Ltd. (TSX VENTURE:PEZ)(FRANKFURT:P5E) -

After having finished the first seven drill holes of its planned 10,000-metre reverse-circulation program at the Los Planes zone in the San Antonio project, Baja California Sur; Pediment Exploration Ltd. is pleased to report that initial assay results from the program have significantly increased mineralized volume at the project. Results have been received from four drill holes, three of which: PLRC-01, PLRC-05 and PLRC-07, fully penetrated the known thickness of Los Planes system, which is located north of the Las Colinas historic resource. Hole PLRC-06 was stopped at 62 metres and short of intersecting its target due to difficult ground conditions. Another drill hole in this area is planned with vertical orientation.

Summarizing the combined intercepts of each drill hole received below are as follows:

PLRC-07 84.12 metres of 3.79 grams of gold per tonne.

PLRC-05 100.58 metres of 1.60 grams of gold per tonne (near true width), and

PLRC-01 83.82 metres of 1.47 grams of gold per tonne (near true width).

Brief description of drill results

Drill hole PLRC-07 is located 50 metres west of previously reported core hole LCDD-20 and was drilled vertically. The hole has returned 84.12 metres of 3.79(a,b) grams per tonne gold, which includes 12.19 metres of 19.87 grams per tonne gold. Since the mineralized zone has a calculated dip of 45 degrees to the west, the true thickness of the zone is calculated at approximately 59 metres in this section. Hole PLRC-07 is the most northerly test of the Los Planes shear system to date.

(a) This interval includes one additional sample that assayed greater than 10g/t gold by Atomic Absorption, and is thus here averaged with the rest of the samples as 10g/t gold. The fire assay, gravimetric finish result for this individual sample will be reported when received.

(b) Grades were not cut for calculating average grades in the interval

Drill hole PLRC-05 is located 100 metres south, along trend from hole PLRC-07 and between previously reported core holes LCDD-18 and LCDD-19. Hole PLRC-05 has returned 18.29 metres of 2.28 grams per tonne gold in an Upper Zone and two further intersections of 15.24 metres of 2.0 grams per tonne gold and 62.48 metres of 1.357 grams per tonne gold, which include higher-grade sections of 3.05 m of 7.27 g/t gold, and of 13.72 m of 4.87 g/t, respectively. In contrast with hole PLRC-07, this hole was drilled at a -50 degree angle to the east and the length of its intersections are near true thickness of the zone.

Drill hole PLRC-01 is located 100 metres south, from PLRC-05 and 100 metres east from Echo Bay's reverse-circulation hole SA97-120. Hole PLRC-01 returned 24.38 metres of 1.20 grams per tonne gold in the Upper Zone, and 59.44 metres of 1.58 grams per tonne gold in the Main Zone. The Upper Zone in RC-01 begins 18.3 metres down-hole and is the oxidized portion of a zone that included 16.5 m of 2 g/t in SA97-120; the Main Zone in RC-01 begins 90 metres down hole.


Table of reverse-circulation drill results from the San Antonio project,
Los Planes zone

From To Length Au
Drill hole (m) (m) (m) g/t Comments
07PLRC-07 53.64 59.74 6.10(i) 0.30 Oxide zone
and 218.24 302.36 84.12(i) 3.79(ii) Sulphide zone
including 227.38 239.57 12.19(i) 19.87(ii)
including 251.76 263.96 12.19(i) 2.37
including 268.43 302.36 39.93(i) 0.89

07PLRC-05 2.44 7.01 4.57 0.86 Oxide zone
and 71.02 89.31 18.29 2.28 Sulphide zone
including 77.11 81.69 4.57 7.68
and 103.02 118.26 15.24 2.00 Sulphide zone
including 103.02 106.07 3.05 7.27
and 128.93 191.41 62.48 1.36 Sulphide zone
including 171.60 185.32 13.72 4.87

07PLRC-01 16.76 41.15 24.38 1.20 Oxide zone
and 89.92 149.35 59.44 1.58 Sulphide
including 105.16 109.73 4.57 3.08
including 126.49 131.06 4.57 3.14

(i) Not true width. Hole was drilled vertically and mineralized zone is
calculated to dip 45 degrees to the west.
(ii) One sample that has graded greater than 10g/t Au remains to be
reassayed by gravimetric finish. A value of 10g/t Au has been used
temporarily to calculate the interval.

Bull: Kudo's !!! Nice trade for you on this one. I guess a new top 5 silver stock list is in order soon. Keep up the great work !!

RAM