EXPATRIATE RESOURCES EXR.v Message Board

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Gold/Mining/Energy : EXPATRIATE RESOURCES EXR.v

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To: Jeff Coombs who wrote (19)	9/13/1997 8:25:00 AM
From: Grant Stewart	of 45

Here's the scoup on why EXR rose in 1996 then fell in 1997. Back in 1996 a hole on the Ice property got things rolling when Hole IC-34 hit a true width of 20.5 m of 5.2% Cu, 0.06%Co, 0.6 gpt Au, and 25 gpt Ag. They have 27 properties there. They had $7 M cash at the time and this was the last hole reported for last year as the drill season ended. The drilling resumed in about May of 97. In late May they released results from the first 3 Ice holes of the new year and the Cu grade may be less than hole IC-34 indicated but the thicknesses appear to be more. Last year's holes appear to be true thickness intercepts as dip is about 48 degrees. The price dropped on this news but it isn't all that bad of news. If they have 40 m of 2% Cu I'd be very happy. The question is how much tonnage do they have? I'd like to see 5 M tons of open-pitable ore which is possible! Then we'll have a mine. Grant

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