Hey Warren, waiting is always the pits. I spoke with Dale yesterday. He says it will probably be the middle or end of next week before they
have core results ready for publication (could be a bit longer according to news item, I suspect they are trying to not put themselves into too tight a box). He said they are fire assaying everything. He also said they are screening some samples. (not sure what that means).
They also have some new drill targets on another property (Asbell Bay) they are moving to as soon as the drill crew have a couple of days off. They really pushed the drilling on that last group of holes as far as I can see. Don't know why they would do that unless they are as anxious as we are to know the results.
I recently increased my position and will probably pick up a bit more but not a great deal more until I hear some concrete results. Then I can always average up a bit if it's warranted.
I'll post todays news along with this. I still feel it has good potential as an investment. No more guarantee than most Juniors, better chance than many. To me when you buy most Junoir resource stocks you are gambling on potential. I know that and that's why I'm here.
When I get uncomfortable I pick up the phone and call the company. At least that way you get a little feel for what is going on with the day to day operation. I really don't expect everything to happen on a detailed time schedule. Real life dosen't work that way all the time. Patience definitely required. Foresight would be nice as well.
Here's the news
Cons Pine Channel Gold Corp
KPG VSE
October 3, 1996
Progress Report
JNR RESOURCES INC. ("JNN-V;JNRRF-L")
CONSOLIDATED PINE CHANNEL GOLD CORP.("KPG-V;CPIGF-L")
- Progress Report
Mr Dale Hoffman, President of JNR Resources Inc., (the "Company") is pleased to report
that drilling is scheduled to begin on JNR Resources - Consolidated Pine Channel Gold
Corp. ("Pine Channel") diamond exploration targets, upon completion of final definition of
drill targets and mobilization of men and equipment. Drilling will commence on targets
situated on property held jointly through staking by the Company and Pine Channel, in the
Molanosa Arch area of the North Mining District ("N.M.D.")
of Saskatchewan.
In addition, the Company has entered into an agreement with Pine Channel, subject to
Vancouver Stock Exchange approval, whereby the Company may earn a 50% interest in
mineral claim S-101388, N.M.D., Saskatchewan, in consideration of the Company funding
exploration costs on the claim, to an amount equal to the aggregate amounts previously
expended on exploration of the claim. Upon the Company earning the 50% interest in
S-101388, further exploration and development of the claim will be done on a 50/50 joint
venture basis.
Claim S-101388 lies partially within the former Consolidated Pine Channel - H20
Entertainment Inc. (formerly Canadian Entech Research Corp.) area of interest, in which
H20's interest has reverted to a 10% N.P.I., as a result of its failure to participate in or to
provide funding for two consecutive exploration programs.
Modelling of geophysical targets has been completed by Monopros Limited, with drill
recommendations made, to date, on two of the targets,and with geophysical modelling
ongoing on additional targets. Drilling is expected to commence during the first part of
October, with results being released as they become available.
Also, the first phase of drilling on the eight areas outlined in the summer exploration
program, in the Pine Channel area, N.M.D., Saskatchewan, is expected to be completed by
first week of October. Core is being split, and sent for assaying. Results are expected within
2 to 3 weeks.
Preliminary sampling and geophysics have also been completed on the JNR Resources - Pine
Channel Asbell Bay Joint Venture. Upon completion of a review of all assays and
geophysical results, a decision will be made with regard to drilling on this property. TEL:
(604) 684-5118/687-2144 Dale W. Hoffman, President, JNR FAX: (604) 682-8566
________
Keep a light on in the Window !
Have a great Day !
Bob Curtis |
