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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: Famularo who started this subject	12/1/2002 11:49:28 AM
From: m.philli	of 16207

CNB/MAJ "Mistassini Project" Quebec. 3rd quarter report: "Mistassini drilling will immediately follow the geophysical surveys and is scheduled to commence in early November." The summer field program was completed in late June with 294 samples collected, mostly down-ice of geophysical targets. The indicator mineral picking results of the follow-up samples were received during the quarter and a number of positive samples have been identified immediately down-ice of priority geophysical targets. Two of the highest priority magnetic anomolies stand out in particular with kimberlite indicator counts of 507 and 563 in samples of basil till collected down-ice, 600 and 2300 metres from the two investigated targets respectively. A high percentage (up to 90%)of the grains in the samples also bear fragile surface textures indicating proximity to source. The abundance of kimberlite indicator minerals immediately down-ice of the geophysical targets strongly suggest that the geophysical anomolies are caused by kimberlites. Based on the highly positive sampling results a helicopter-borne geophysical system has been contracted to fly high-resolution surveys over at least 25 geophysical targets in order to accurately define the geophysical anomolies in preparation for drilling. Drilling will immediately follow the geophysical surveys and is scheduled to commence in early November.".......... ..(comments)... Financial`s report $218,874 exploration expense up to Sept 30. Looks like a more than fair chance of hitting kimberlite before Christmas. "scheduled for early November", appear to be running a bit behind, but still should be turning drill in 02. Reads to me that READ knows what he`s doing, CNB may finally have things coming together, can`t ask for more (at least as far as this project is concerned. Hadley Bay was a nice piece of work in a short time also.) Drilling announcement must be imminent.(possibly with drill has intersected kimberlite) Fair amount of end of the month trading in SWG (36% cnb plus lots of warrants)on Friday. Any comments?

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