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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: jennifersilversun who wrote (3117)	12/12/2005 10:39:08 PM
From: ogi	of 78419

I do not believe they hit water. The property owner had a water well drilling company and drilled for water. Later those holes were tested for gold. That is why we call them water holes.I am presuming water would have been a help for the small operation he was working. They already own another big property in Zacateas state, see the website. With gold deposits nearby, gold samples on site ,historic mining and now drill holes that show geologic activity associated with gold deposits the property is far from dead. It still could be a dud but we do not know that and if I were them I would drill again too. Argentina gold drilled 79? holes before hitting the "discovery" hole and selling to Barrick. It is very rare indeed for the first set of holes to tell you what is going on. They give you a look at the puzzle you must then figure out. There could be some bad luck here, could be some bad judgement but CGE mngmnt are not inexperienced so it is hard to say it is incompetence. Much more likely reflective of the difficulty and complexity of the enterprise. Cheers, Ogi

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