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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: kirby49 who wrote (81018)	1/23/2002 12:18:16 PM
From: E. Charters	Read Replies (2) of 116954

Now the ROM will be flooded with people flocking to its collection. I must admit I could find no reference to the nugget. The mine if came from was tiny. The vein was 200 feet long and dipped at 26 degrees east and ran at 26 degrees azimuth. It was practically flat. this is rather unusual for gold in this camp. Another mine in Timmins had flat veins and was quite rich, up to 12 ounces per ton and that was the 1050 Zone of Kinross. Many companies have tried to find an extension to the Croesus zone, but failed. The OGS publications say, "quartz is accompanied by pyrite, arsenopyrite, and spectacular amounts of gold." The mine operated between 1915 to 1918 with an inclined shaft. Later it was operated until 1936 intermittently and briefly. Production was 14,859 ounces from 5,333 tons. It seems apparent from the strike of the rocks encasing the structure that the Croesus was in a tension fracture system that was en echelon with the basic lava strike relative to the pipestone fault (70 to 110 degree az.). As such the with the weakness of most of the Canadian exploration companies structurally, the past investigators probably chased the vein itself and its strike instead of the containing and dominating structural fabric that gave rise to it. This area hosts drilled off deposits of the 5 million ton range and larger with some quite good mineralization. Examples are Noranda's Freewest Zone, Barrick's Holt-McDermott. EC<:-}

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