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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE)
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To: Speirs, Robert who wrote ()4/19/2000 11:52:00 AM
From: ForYourEyesOnly   of 1321
 
Island Mountain and Mosquito Creek Gold Mines
wayside-gold.com
The Island Mountain and Mosquito Creek Gold Mines are located northwest across Jack of Clubs Lake from the Gold Quartz Mine. During the period 1934-66 and 1980-87 the mines collectively produced 603,809 ounces of gold from 1.34 million tons of ore, at an average grade 0.45 ounces/ton gold (of which 578,828 tons of pyrite-type ore graded 0.63 ounces gold per ton). Production was from a section nearly 6,000 feet in length and 2,000 feet deep from surface. Reserves of 40,000 tons of 0.7 ounces/ton gold of pyrite-type ore are reported in the lower workings of the Island Mountain Mine. About 50% of the area is prospective for new ore shoots.

Based on records of both mines, the potential to find new mineable reserves is considered encouraging. Pyrite-replacement ore in amounts equivalent to that mined probably exist within the Rainbow-Baker Contact. While the Mosquito Creek Mine is a permitted mine, the Company intends to erect a new concentrator and mill, for the surface open pit areas under consideration.

Prior to closure of the Island Mountain Mine, in 1966, mining was in the lower levels, 800 feet below the bottom of the Mosquito Creek Mine. Replacement-type gold mineralization shows continuity in the plunge direction. Opportunity also exists for open pit type mineralization similar to that identified in the Sanders Zone in the Gold Quartz Mine.
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