Hello Hedger: How are ya today? Yes things have been quiet . Although I veiw this as a good sign for the time being , it does provide a good opportunity to slip in and buy some cheap stock. The price of gold was down dramatically yesterday ($6.00). It was reflected in most of the gold stocks. But that is not of any consequence. I beleive it provides of good buying opportunity over the long haul..As I had previously mentioned : This is the time to go about one's business and quietly accummulate...IMHO...Any thoughts. Good Dayyyyyy Ronald
PS: I have attached the lastest new out today...
>From newsout@canada-stockwatch.com Tue Jan 06 05:16:30 1998
Date: Tue, 06 Jan 1998 02:16:10 -0800
From: newsout@canada-stockwatch.com
Subject: Stockwatch: International Northair Mines Ltd - News Release
To: "Darryl MacDonell" <rmdonell@baynet.net>
Venturina property acquired in Mexico
International Northair Mines Ltd INM
Shares issued 5,115,647 Jan 5 close $0.53
Tue 6 Jan 98 News Release
Mr Fred Hewett reports
The company has acquired the Venturina property in Chihuahua, Mexico.
Initial mapping and sampling indicates that the property has good potential
to contain a large surface mineable, bulk tonnage, gold-silver deposit.
The property has been acquired by Grupo Northair de Mexico, SA de CV, a
wholly owned Mexican subsidiary of International Northair Mines. The
company has effectively gained control of a historic precious metal
district by exercising an option on two privately held overlapping
concessions. Northair can acquire a 100% interest by making payments
totalling US$138,000 and issuing 100,000 shares to the vendor, with a
buy-out of US$650,000 within four years. The first issuance of shares is
scheduled for January 1999.
The Venturina property is accessed from the Chihuahua-Hermosillo highway,
and is about 345 highway kilometres from the capital city of Chihuahua. A
9km dirt road leads from the highway to the property. Infrastructure is
excellent, and topography is gentle to moderate. The area lies at an
elevation of approximately 2,000m, with vegetation consisting primarily of
pine forests. The property has been partially developed by several
different operators since the late 1800s.
The district lies within the Sierra Madre Occidental province, which is
recognized as one of the most prospective mineral belts in the world for
gold and silver deposits. Venturina contains veins, stockworking and
massive silicification that is controlled by a complex northwest striking
fault system in andesitic tuff. The zone of mineralization that has been
mapped to date is approximately 75m in width and 500m in strike length. It
is currently open to the southeast. The company has taken 67 samples with a
total average grade of 2.0 g/t gold and greater than 30.0 g/t silver.
Initial bottle roll metallurgical tests reported an average of 81% recovery
for gold.
The company plans to start an exploration program in 1998, which will
consist of additional mapping and sampling followed by drilling.
The company also expects to report assay results from initial drill testing
at the Lachatao property, 35km northeast of Oaxaca, Mexico, later this
week. Teck Corp is completing a minimum of 12 diamond drill holes totalling
2,500m to test six bulk tonnage gold/silver targets that were identified
during the 1997 exploration season.
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