Ontex Resources (ONT Alberta) Message Board

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Gold/Mining/Energy : Ontex Resources (ONT Alberta)

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To: robbwharry who wrote (457)	1/17/2000 11:22:00 AM
From: mark warburton	Read Replies (2) of 519

Rob, I think we are on the verge of same very exciting developments on both fronts. With Pifher we have initial drilling on a property never worked before. Any finds on that property will open up potential. Potential that was not there before. I believe the property will prove base metals are there. As for Ontex we patiently await the Cherbourg results. Lets bring this up to date and put this in perspective. At the special meeting of Ontex shareholders I met Robin goad after the amalgamation took place. We spoke about his reviews of the property and at that time he was comfortable in saying Cherbourg probably was showing a 100,000 ounce resource. Ballpark estimate of course and that was only on very limited drilling that had been done. We have conducted drilling on Cherbourg this year and definitley expanded the size of the "complex vein structure" hence I believe the resource of the veins to now be significantly higher then that previous ballpark number. The last batch of drilling tested the contact. You were also at last years AGM when George took the floor and mentioned that the excitement at Cherbourg would be on the contact. I beleive Mr. Morganti from Placer Dome originally came up with the theory that the gold at Cherbourg should have come up through the contact and then deposited in the veins. This is the theory behind the geologic model for Cherbourg. I understand the last batch of drilling tested the contact. So I would draw this conclusion from the results we expect. 1) If gold mineralization is found on the contact the theory is still intact and probabaly valid. 2) Since similar geology is present at Brookbank and elsewhere on the property I would expect the majority of this deposit to be on the contact. 3) My conclusion of a postive hit on the contact would be the veins are only a bonus to the real find and that the magnitude of Cherbourg explodes with a contact hit. (My fingers are crossed) 4) If the contact is not hit a more complex vein deposit is evident and this will be more difficult to delineate. Also, this property usually shows higher grades the deeper we go. I would like to see higher grade on a contact hit. This would also back up the premise that the gold came through the contact and into the veins. We have to wait and see. So far to date the premise that the gold is within the contact has held up to the drilling we conducted this year. This years programs were very explorative in that they tested areas. Not a lot of time was spent trying to increase reserves but more to test the Fault zones. So far all is very well. You mention that they will now go below the Brookbank... The find is open at strike in both directions and depth.. The gold must have come from below so I really look forward to a big banger down below. A very good strike at depth will add magnitude again. Someone posted at Raging Bull that this thing is possibly creeping up on us. I think that Ontex is getting very close to being noticed for its merits. Good Luck Mark

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