Phoenix Gold Resources (V.PHO) Message Board

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Gold/Mining/Energy : Phoenix Gold Resources (V.PHO)

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To: virginijus poshkus who wrote (31)	6/13/1997 2:48:00 AM
From: Ron Struthers	of 285

Virginijus, I became interested in PHO when they moved this platinum property in last year. I had a good feeling platinum would be strong and indeed it has moved up. I expect platinum to be volatile but with an upward bias. I believe the real problem in Russia is they are out of PGEs and are stalling to rebuild stock. They don't want to let the people know how bad it is. I could be wrong, but if so it is only a matter of time. Strange enough it now looks like the silver property is even more promising. I will post some detail on it for others benefit as well PHO recently aquired a nice silver property through there sister company Orion and connection with its management Bob Miller. Bob worked with Crown Resources and was aware of this nice Utah property for some time. He tried to convince Crown to pick it up but their plate was full at the time. Since then Mr. Miller has retired from Crown and is now with Orion and this is how PHO now has an interest in what looks like an excellent silver prospect on the Coyote Knolls prospect near Delta, Utah. Orion and Phoenix can earn a 60% interest in the property by expending $100,000 on the initial exploration program. Orion and Phoenix Gold have received positive results of trenching and sampling work. Most recent findings, obtained by trenching and sampling in March, coupled with the impressive assay results of last December, firmly suggest the presence of a mineable resource. Continuing field work has now extended the apparent east-west mineralized zone another 100 ft west of December trenching to advance the sampling zone to 300 ft. The mineralized vein appears to be related to a volcanic hosted silicified structure which contains sections of breccia and at least one major pebble dyke. Trenches are six ft deep and chip samples of mineralization were taken every five feet along strike. The best assay result to date shows 0.502 opt gold and 135 opt silver from the 95 to 100 ft segment of the trench. The assay results indicate a continuous mineralized structure with significant potential. Most every assay at 5 foot intervals ranged from approx. 5 to 30 opt silver with a number of them higher. Like Richard says, don't under estimate how high this stock can go with only 5M shares out it is cheap. Good results on the platinum or silver property could get it really moving. The hot platinum market will keep investors focused on this sector as well Ron

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