Javier,
In the previous release (Feb. 20/98) THS mentioned that they were:
"Upon completion of hole 98-LW-17, the Lew drill program will be suspended for a period of two weeks so that the drill can be moved to the Mystic Lake base metal property in Saskatchewan in order to drill two previously untested airborne EM anomalies before lake ice conditions deteriorate. These two anomalies occur approximately 3 kilometers northeast, along trend from and in a similar geological environment to, the past-producing Coronation Mine that produced 1,280,000 tonnes grading 4.3 percent Cu, 0.3 percent Zn and 1.9 g/t Au. This drill will then be moved back to the Lew property where it is anticipated that another hole to test the high grade copper mineralization intersected in 98-LW-16 and two or three short holes to further define the high grade gold mineralization will be completed before break-up.
Thunderwood and Abitibi also announce that a $350,000 exploration program consisting of 2,000 meters of diamond drilling in seven holes, lithogeochemical sampling and downhole Pulse EM geophysical surveys has commenced on the Bruce Morgan and Reed Lake volcanogenic base metal properties which are located approximately 18 kilometers southwest of Snow Lake, Manitoba in the Snow Lake volcanic belt. The Bruce Morgan property hosts the Morgan Lake massive sulphide deposit which contains 200,000 tonnes grading 8.0 percent Zn. Two holes will test hydrothermal alteration zones that occur along the Bruce Morgan horizon and two holes will test undrilled airborne EM anomalies that occur in geology favourable for the occurrence of massive sulphides elsewhere on the property.
Three holes are also planned for the Reed Lake property where previous drilling in 14 holes has defined a hydrothermal alteration zone containing abundant garnet-chlorite-biotite-staurolite with minor copper-zinc sulphides up to 62.0 feet thick over a strike length of 1,000 feet and to a depth of 600 feet. The best intersection from previous drilling was 0.3 percent Cu, 0.3 percent Zn, 10.3 g/t Ag and 0.9 g/t Au over 62.0 feet at a depth of 325 feet. Similar alteration
zones, also anomalous in precious metals, accompany the major base
metal deposits in the Snow Lake area and the possibility exists
that a massive sulphide deposit could be associated at depth with
such an alteration zone.
Also, don't forget that Kinross is at the final stages of the feasibility study for their jointly held gold property up in Timmins. Finally, THS has a property that is adjacent and along strike up in Raglan right beside Falconbridge. You probably already know that Falco has brought their property into production and spent major bucks up in the Raglan. I see no reason to think that THS (although it hasn't been proven yet) doesn't have some good grades on their property too. Look at some of the results that NVE came up with. I don't think that Falco got it all as the deposits are spread all over the place.
When you put all this together, you can see why the stock is under accumulation at these low price levels. I've seen several buyers looking for 50,000+ shares on any given day and it is strongly bid at $0.20. I think that with one really good hole, and we will be going north in a hurry.
Read the latest release really carefully and then look to see who the President of THS is - see the PDAC site for an answer.
Brian |
