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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: loantech	11/7/2006 2:27:36 PM
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MMG from SH: stockhouse.com; This is the last four paragraphs of the article 4/10/06. Exploration was continued with 4 holes drilled at progressively larger distances to the east of the district mines. Water was present in fractured carbonate rocks in all but one of these holes. These are not the same aquifers as provide water for domestic purposes in this area and constitute an untapped resource. The level of the water in these tests and data from our well inventory allow us to estimate the elevation of the regional water table in the area. The gallons per minute that a well might produce are estimated by air lift testing using the large capacity air compressor on the drilling rig. The quality of the water is estimated by measuring the electrical properties of the water produced. Only one of the exploration wells had an estimated production rate that would justify completing it as a well, but all of the wells had good water quality. Our first round of exploratory drilling indicates an area, about 20 kilometers east of the district mines, where a relatively shallow, high quality water supply may be developed. Our next round of exploration drilling will be in this area. We have obtained leases for surface access well sites and pipeline construction in areas where we will be drilling. The flow rates of exploration borings cannot be accurately evaluated until the holes are completed as wells, a pump is installed and a lengthy series of pump tests are performed. We will determine which holes we will complete after we have completed the exploration drilling. We will not announce any flow rates until the rates are confirmed in accordance with good engineering practices. THERE DOESN'T SEEM TO BE A WATER PROBLEM. -WATER WAS PRESENT IN ALL BUT ONE HOLE -NOT FOR DOMESTIC PURPOSES -UNTAPPED RESOURCE -Only one of the exploration wells had an estimated production rate that would justify completing it as a well -ALL OF THE WELLS HAD GOOD WATER QUALITY -about 20 kilometers east of the district mines, where a relatively shallow, HIGH quality water supply may be developed. -have obtained leases for surface access well sites and pipeline construction in areas where we will be drilling. THE NEXT NEWS RELEASE WILL BE ABOUT THE FLOW RATES, IF THE RATES ARE HIGH, THE STOCK PRICE WILL FLY, NO QUESTION ABOUT IT. GLTA

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