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Gold/Mining/Energy : Barramundi Gold
BAM 54.00-0.7%3:52 PM EST
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To: D. Bryan who wrote (51)11/12/1999 6:12:00 PM
From: zebity  Read Replies (1) of 99
 
Drill Result Interpretation

I have discussed drill results with a geologist.
The average hole depth 2100/12 = 175metres.
If they are trying to the probe the anomonly detected in the
Induced Polarization (IP) survey then at least 150 metres depth drilling is required.

I would think that given the type of operation Newmont are running (big deposits), their peggings on other side of Alaskan border, the recent buy in on Aurex-Sinister Yukon property
(see biz.yahoo.com ) and the new claims that Barramundi has made the they are looking for something big here and are devoting a significant amount of
resources to find it.

The drill results are positive but not great and as you said in your earlier (private) posting, that this is just confirmation that it will be worth doing more investigation
(ie more holes) in the next season.

Do you know what has become of BAMs plans for mining the rich and exposed quartz views to get a bit of cash flow happening?
This small fry stuff is not of interest to Newmont, but could be highly beneficial to BAM as it would stop the need to issue more shares to get some cash in the till.

I guest it looks like our money in BAM is not lost yet ;-) and more good news is on the horizon on Wandoo brecia pipes ...
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