TWIN GOLD -TWG on tse Message Board

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Gold/Mining/Energy : TWIN GOLD -TWG on tse

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To: alan holman who wrote ()	3/5/2000 4:44:00 PM
From: John Fairchild	Read Replies (2) of 577

PDAC I just got back from the PDAC. I have lots to report and I really don't know where to begin. We (my wife and I) managed to be the first people at TWG booth. My initial conversation was with HD and his wife. He gave me a run down of the ultimate vision for a mine. Basically the Alluviaq Fjord has tides of 10 meters. The most efficient mine plan would see the construction of a plant built on a barge (possibly at Montreal or other near by location). The base of the dyke system would be excavated and a coffer dam built. Then it would just be a matter of pouring footings for the barge plant, open the coffer dam and move in the barge then close the coffer dam back up. Very straight forward and cost effective. The plant is then gravity feed from the dyke(s) on the north side of the fjord. Preliminary cost of mining projected to be under $40 per tonne (don't know if we are talking US dollars). Hermann impressed me as a man who can get the job done. They want Twin to maintain 100% ownership and develop the property themselves. The mag survey is everything I hoped it would be. I spent a long time talking with Dallas Davies. I was at the booth for 1 hr and 15 minutes. Kathy tells me that lots of people were circling waiting for their chance to talk. The entire property is literally covered with SW to NE trending dykes. A few dykes are oriented perpendicular to the main trend. 36 circular magnetic anomalies is really just a preliminary number. There are many more than this that will have to be looked at as time goes by. By far the most exciting prospect right now is the 4.2 km segment of dyke between Torn South and Torn 1. This span of land is magnetically flat as opposed to the property north of the Alluviaq Fjord and south of Baufremont River which are iron rich and produce large parallel east-west trending magnetic highs. The country rock itself between the fjord and the river is a bleached white quarts based stone which is very attractive (would make good book ends as my wife suggested). The 4.2 km section is an intense magnetic high dwarfing T1 and Torn South where diamond sampling has already been done. Attached and slightly displaced off of this segment is a circular target that shows a magnetic link to the main dyke. The topography matches with a scoured interior to the circle very obviously soft rock. This section of dyke is impressive not only because of the magnetic reading but because it has produced a very distinctive ridge (up lift from the surrounding land). Within this ridge is a very distinctive lineament which runs the entire span between the river and the fiord with one apparent east-west fault before it reaches Torn south. They have a lot of options as far as how to attack this property. Dallas mentioned that a Carter - newsletter writer was there on Saturday when he was setting up (I believe this was probably Ted Carter the analyst that writes the Carter's Choice Newsletter). He was looking at the mag survey and pointing out all the pipe targets that have to be drilled. My impression after talking with Dallas is they want to prove up the main dykes with bulk sampling before they spend big dollars on drilling the many pipe targets. They have not really decided yet. Like I said there are many options. One of them is to buy a floating DMS plant such as the ones used in Africa (Namibia) in dredging operations. They are self contained units and they are available. Ultimately for bulk processing this would be the best solution rather than spending the dollars to fly bulk samples out. Initially they will fly both small sampling through out the property plus mini bulk sampling. They will be leasing a helicopter for at least one month and probably use a Twin Otter as well depending on how the contracts can be worked. The dykes themselves are accessible right now as they are wind swept with predominantly east winds. I have got to tell you guys this play is fresh. It may just be the discovery that moves the market back into the junior mining sector. I really enjoyed my discussion with Dallas. He is a very soft spoken man and really has that genuine Eastern Canada personality of being very straight forward with absolutely no sign of being guarded in anything he says. You just know you are getting the straight goods when you talk with him. There is lots more I should say but one thing is that the fine and coarse grain kimberlyte is very recognizable. A very distinctive and sharp boundary exists between the two. When Dallas was speaking of what the options are with a view to managing costs Mrs. Derbush was very quick to add that they will look after the money. The dominant tone here is lets get as much done as quickly as we can. They want to move this discovery to a higher level of economic reality within the next 2 or 3 months and that means mini bulk sampling now. They will be using snowmobiles with trailers to move the drums to the pickup points. DMS plants quickly process the material to recover commercial sized stones (greater than 1 mm). Tailings will probably be further processed by caustic fusion which is the lengthy process done by Lakefield. Dallas was back on the property in January and a lodge/camp is available just down the fjord for them to set up base camp. Look for another news release within the next couple weeks. John

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