Holmer Gold Mines Message Board

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Gold/Mining/Energy : Holmer Gold Mines

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To: Brian MacDonald who wrote (705)	10/8/1999 10:29:00 AM
From: Midas	Read Replies (1) of 739

Hello Brian: The dollar figures announced are MINIMUMS and do not preclude St. Andrews from spending more. My guess is that the infill drilling will test the zone to confirm it is there and then a ramp will be driven to explore the best part of the mineralized zone. A $500,000 budget will drive a ramp to a vertical depth of 150 feet below surface. Depending on the location of streams etc. they could start mining at that time. The other alternative is that an open pit is started. A $500,000 expenditure on an open pit will be more than enough to get the overburden off the outcrop in preparation for mining. One other factor that has come to my attention is that the St. Andrews mill is not running at full capacity at this time. A hungry mill nearly always helps speed the development of new prospects/properties. I think the future looks rosier than most people realize for the Holmer property in Timmins. Midas

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