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Gold/Mining/Energy : OPW - Opawica Explorations Inc.
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To: Condor who wrote (57)8/5/1999 11:36:00 AM
From: Midas  Read Replies (1) of 72
 
Condor:

I contacted the IR at the Opawica office this morning to get some info direct from the company. He told me the following:

(1) The current hole is part of a program to find ore that can be accessed from the existing Kidd Creek mine workings. That is they are looking for mineralization less than 1500 m from the current mine. This is a very short distance considering that the mine is already over 2000 m deep.

(2) The current hole is being drilled to test a geophysical anomaly discovered by doing down hole Pulse Electromagnetic Surveys on the four previous holes. The target depth for the hole is between 1650 and 1850 m and appears to be a down dip extension of the Chance mineralized zone.

(3) The hole has achieved its 1750 m planned depth and is being extended until it hits the rhyolite-basalt contact. (My interpretation of this development is that the type and quantity of sulfides are encouraging and has resulted in the decision to extend the hole).

(4) Sulfide concentrations of up to 60 to 90% have been encountered. This sulfide is primarily pyrite and pyrrhotite. Some massive bands up to a metre thick have been encountered.

(5) The present hole was to be the last hole in the current drilling program but Falconbridge is now looking for other targets to drill.

(6) The drill is advancing at the rate of 30 to 50 m per day.

(7) Opawica expects another progress report from Falconbridge sometime late today or tomorrow.

Midas
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