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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)
MDMN 0.000001000-99.0%Jun 3 1:07 PM EST
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To: Claude Cormier who wrote (18804)9/10/1999 2:27:00 PM
From: Mike Gold  Read Replies (2) of 25548
 
"Give us a few deep drill holes with the grades similar to those already published and we will start talking."

Claude, I was a geophysics major for awhile in college and put alot of faith in geophysical data that is gathered. Using improved processing speeds/software and better sensor accuracy-this has dramatically improved the value of IP data recently. The first phase of the IP survey-GEODATOS were able to accurately predict the location of the minerlized body within a few meters.(they did get hurt a little by using N/S lines instead of E/W lines on a E/W elongated pipe-also the formation dips sharply adding to the complexity.)The drill holes already drilled prove the potential for the body to be minerlized(ore grade) as opposed to being a lump of iron. Apparantly the new IP data show the minerlized body to continue downward for at least 1000 meters. (Ore grade in breccia pipes often increases with depth-House believes that because of the unusual amount of leaching that has occurred-the secondary enrichment blanket(chalcacite in this case) is located at a depth greater than normal.) Doing some back of the envelope calculations and assuming no other pipes(there are other pipes) and no underlying poryphyry-no placer/epithermal contribution)-we are already at 100 million ton mine size. Waiting for the final drill results will give you a nice conservative investment but you will lose most of the profit potential by then especially if Medinah goes with a Fund to finance the drill program. The terms of the financing are rumored to be extremely lucurative for Medinah and for shareholders alike. Cheers.
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