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Gold/Mining/Energy : Best buys in current market

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To: StockJock-e who wrote ()	4/5/1997 11:04:00 AM
From: Jim Odom	of 210

Check out Patricia Mines Ltd. PAT on the Vancouver Exchange can be bought for C$.75 and has just anounced a major discovery that should have sent the price through the roof. (see following from Canada Stock Watch) Island Gold assays reveal new gold zone Patricia Mines Inc PAT Shares issued 8,952,516 Apr 1 close $0.75 Wed 2 Apr 97 News Release Mr Peter Brodie-Brown reports Additional assays from the Island Gold project, north of Wawa, Ontario have been received and reveal the presence of a new zone of gold mineralization not previously known. This new zone has been named the North Shear and was intersected in hole PL-17 at a vertical depth of 40 metres. Hole PL-17 was intended to test the Lochalsh zone at depth and intersected a wide zone of intense deformation and alteration in the upper part of the hole. Visible gold was noted in the intersection. Hole PL-17 also intersected the previously known Shore zone over greater width than in previous intersections. It also contained visible gold. Hole PL-17 also intersected visible gold mineralization 465 metres vertical depth indicating the continuity of the zones identified in hole PL-16. Holes PL-20 and PL-21 are currently being drilled and have also intersected visible gold mineralization. Discovery of this New North Shear zone and wider sections of the Shore zone underlines and supports The company's position that the Goudreau Lake deformation zone and Island Gold project are part of a gold rich environment and that a large reserve in both tonnage and ounces exists on the property. Significant assay results that have been received from Hole PL-17 are as follows: Length (Au) Interval (m) gm/t Comments 56.93-66.78 9.85 7.13 North Shear 120.69-127.77 7.08 6.01 Shore Zone 235.45-236.74 1.29 13.73 No 5 Zone 684.70-686.65 1.95 9.07 No 3 Zone 731.85-733.85 2.0 6.27 Parallel Zone Additional assays are awaited from this and five other holes. The 1997 drilling program on the Island Gold project is intended to test the extent of gold mineralization in the Lochalsh deposit. To date 7,000 metres of a planned 20,000 metres of surface diamond drilling has been completed. New zones have been discovered and the potential for additional new discoveries is great. This drilling has confirmed the existence of multiple zones of gold mineralization over a strike length of 1,200 metres and to a depth of 550 metres. Drilling will continue to expand and fill in the Lochalsh deposit. An independent reserve assessment will be completed once the current phase of the drilling is complete. The Island Gold project consists of 123 mineral claims approximately 50 miles Southeast of Hemlo, Ontario. The property has a 650 tonne per day carbon in pulp mill facility and infrastructure with an estimated replacement value in excess of $40 million. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com After the recent news on Bre-X, a lot of jr Mining Companies were down 20-30%. PAT was up a little on the news but has drifted a little lower lately and should be a good buy at these levels. I would appreciate any comments. There is a thread at SI on Patricia Mines. Regards, Jim

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