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Gold/Mining/Energy : MIRAMAR MINING (MNG)

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To: hank2010 who wrote (454)1/23/2004 8:49:15 AM
From: aknahow of 457
 
From the July 23 press release we learn of the plan to use hole S03-296 as the pilot hole for the "wedge" program. In the Nov 3 release partially pasted below, we learn of problems with that hole that won't begin to be resolved until winter drilling beginning in Feb. So my understanding was and is that the proposed wedge program has not begun.

True other wedge hole results are mentioned in the Nov 3 release but they were not part of the proposed systematic wedge drilling.

Miramar presented at the Sprott conference, Jan 14, and may have had more to say on Boston. I never was able to hear the presentation on the net and don't know if it was even available.

Now I can be totally wrong about the wedge program but the above is what I understand from what I have read.

BTW I have a feeling that the Calandra Report affair will potentially lead to more honest recommendations of companies doing interesting things that were not interested in paying with either cash or favors for getting included in various gold stock letters. Of course this has not occurred for the past 200 years but the shock that people may do evil things could produce some changes, soon. Well perhaps not soon, but eventually. O.K. at least some might think they should stop.

Summary Results

The deep drilling program at Boston was a success, despite some technical difficulties with the Pilot Hole.  The Pilot Hole, hole S03-296, was originally designed to facilitate the drilling of multiple intercepts in the deeper portions of the Boston mineralization.  The first test targeted the Boston mineralization at approximately 1,400 below surface, and approximately 100m south of the high-grade intercept in hole S03-293 announced on May 27, 2003.  The hole was drilled to 1,177m when problems in the upper part of the hole required that drilling be suspended some 250m short of its target.  There is some question as to the viability of continuing to drill this Pilot Hole and its future utility cannot be determined until the winter program starts in early 2004.  In the worst case, another Pilot Hole could be required and the first new deep drilling intercepts may be delayed for one to two months.

Of the other two holes, hole S03-293W2 was a wedge offset that intercepted the target horizon approximately 25m above the high grade intercept in S03-293 (54.7 g/t gold over 9.0m).  This hole intercepted two mineralized zones: 8.7g/t gold over 1.0m and 2.3g/t over 10.1m, the latter including 6.8g/t over 1.6m.  
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