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Gold/Mining/Energy : Golden Raven Resources Ltd (GVN)
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To: ZEUS who wrote (2782)11/26/1997 10:03:00 PM
From: Patrick Ives  Read Replies (1) of 3155
 
ZEUS,

I contacted the office of CYJ today and talked to Dr. Lorne March who is on the board of directors of CYJ. He told me that Bill McKee is in Arizona at this time with a couple of geologists and they are investigating that property further. He said that the work on the Cal. property is moving along nicely and so far they have not encountered any major problems. They are shoring up the entrance, and also have to extend the entrance, I guess for safety reasons. They have not encountered any methane gas, which is apparently caused by rotting timber, or water in the shafts which would create another problem. Dr. March told me that he has seen the original documents that were compiled by the geologists when the mine was in operation in the 1940's. They apparently say that there are some very high grade veins of gold, and the challenge will be to find them again. He sounded very upbeat. The POG is not helping the situation right now but I think we are several weeks away from obtaining any true results from the exploration and hopefully the POG is near the bottom and will start to rebound. If the veins are as rich as suggested the cost of production would be much lower than the norm. The area of the mine has a history of very high grade ore so lets hope CYJ can become a producer in the near future. The 16 to 1 and the BCMD mines are close by and are both producing.

Cheers,

Pat
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