PLRN info
Property Portfolio
Nevada, USA
Gold Properties
PLR is just completing its acquisition of three gold properties in the state of Nevada.
All properties have had extensive work (including 40 holes drilled) done on them. The
three properties are the Jasperiod Peak, Madcap and Thunder Mountain and all have
excellent targets. The Thunder Mountain Property in particular which is just south of
Kennecott's Midway deposit has returned assays as high as .72 opt/gold over a forty
foot section.
Thunder Mountain
25 claims which lie south of Kennecott's Midway deposit containing 250,000 oz./gold
to date. Thunder Mountain and Midway lie on a very strong mineralized trend which
also contains Romarco's San Antonio deposit just north of Midway. This trend is a
pediment play but bedrock is only at 100 feet. There are several drill holes on the
Thunder Mountain property but one particular intersection ran 0.72 opt over 40 feet at
80 feet depth. Phase one program $500,000 including drilling. Phase two $750,000.
Jasperiod Peak
10 claims located just south of Goldbands, south of Winnemucca on the Getchell gold
trend. Goldbands is where Kinross have a discovery of 4,000,000 oz./gold. This
property has been drilled with anomalous results. Surface sampling has indicated values
of 0.65 ppm gold. This property has not had extensive work done on it but is highly
mineralized. Phase one exploration program $300,000.
Madcap Property
10 claims (which is the heart of this area) located over the ridge from the Manhattan
and Round Mountain properties. There is room to locate up to another 100 claims
which show good promise which would give a land package of over 2000 acres.
Surface sampling by Homestake showed very promising gold values. Phase on
$500,000.
Significan work programs are planned for all three properties in 1997.
Mexico
Gold Properties
PLR has acquired two concessions in the state of Nayarit, approximately fifty miles
north and northeast of Puerto Vallarta. Total acreage of these two concessions
amounts to approximately 5,300 acres but more ground surrounding these two
concessions is being considered to be acquired which will give PLR a land position of
about 10,000 acres. Preliminary surface sampling has been carried out on both
concessions and assays have ranged up to 0.252 opt/gold and 15 opt/silver. The
properties have numerous shafts, tunnels and adits which were developed by previous
high grade miners and the next work program by PLR will be to map the extent of the
gold/silver bearing structures (some as wide as 40") followed by trenching and drilling.
Mexico is becoming extremely active in mineral exploration and mining and it is
expected that $5 billion will be spent in that country within the next few years. The
Company would like to initiate a $1,000,000 propram by April of 1997.
British Columbia, Canada
Copper, Gold, Silver
The right to earn a 60% interest in the Hail-Harper Creek deposit which consists of 70
million tons of mineable ore worth an estimated 1 billion bollars at current metal prices.
This property is a company maker. A government report dated November 14th, 1996
suggests the reserves to be 40% higher than the 70 million tons which would give an
even higher value. Work will commence again in the first part of 1997 to prove up the
additional reserves. Estimated cost based on 1996 cost of drilling, - $1,000,000 US,
for 16 holes drilled or 20,000 feet.
Europe
Gold Properties
The Company recently held meetings in Manila, Philippines with Draig Mineral
Developments (DMD) of North Wales of the United Kingdom regarding mineral
property acquisitions in Europe. Mr. Tony Hamnand of DMD and his colleagues are
entering into an agreement with PLR whereas DMD is using its best efforts to locate
and secure mining properties in Central and Eastern Europe for PLR. PLR has
complete confidence in DMD, an internationally known geological and mineral
development company.
*Disclaimer - I do not know the date that this report was done or can I verify its'
accuracy.
I will try and find some time tomorrow to type up the management credentials.
- Jim. |
