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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.36+0.1%3:55 PM EST
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To: d:oug who wrote (3741)7/30/1999 11:36:00 AM
From: Dave R. Webb  Read Replies (1) of 4066
 
I am personally skeptical of desert dirt golds, largely because I can not think of a single economic deposit of this type anywhere in the world. Looking for unique and different kinds of deposits is one of the toughest ways to make a living. I mentioned this to an Australian that I met in Mongolia, and he told me that many people in Australia are hobby prospectors, and they often find large nuggets in desert dirt environments. We got into a discussion on the chemistry of gold, and how these large nuggets could form. We focused on the hyper saline nature of the desert lakes, the oxygen fugacity of these fluids and the reduction capacity of the organic muds below surface. All really neat stuff that bores 99.99999% of the population. The conclusion that we came to was that there might be something to the story, but you have to keep in mind that no one really makes any money on these things.

MGR's VMS work in the NWT (please don't call in upper Canada, way too much baggage with that name) is a very simple, tried and true deposit type that is relatively easy to find, and evaluate. The logistics are very good and the cost is low. It has very real possibilities, and we'll give it a good shot.

Dave
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