Jeff, like me meeting you in the Hallways of the PHX Ritz; watchout for the Elephants:
Jaba Inc -
Mammoth drilling begins
Jaba Inc JBA
Shares issued 20054550 1998-03-31 close $0.42
Wednesday Apr 1 1998
Mr James Briscoe reports
Cyprus Metals Exploration of Denver, Colorado will start drilling on the Mammoth Wash porphyry copper exploration joint venture (Stockwatch February 6 1998) on Thursday, April 2 1998. The objective of the drilling is to test the concept that the Mammoth Wash project hosts the fault-displaced western half of the North Silver Bell porphyry copper deposit hidden under thin gravel cover. As many as 20 hole locations have been permitted and 6,000 feet of drilling is called for in the joint venture agreement with Jaba. Holes will be of variable depth depending on the thickness of cover. The large number of permitted locations will allow new holes to be positioned in relation to information from previously drilled holes. The results of this drilling will be released as soon as practical after completion of drilling and assays including confirmation assays if indicated.
The Mammoth Wash project, 100% held by Jaba, comprises four separate parcels totalling 4,586 acres (7.2 square miles or 18.6 sq km). The primary target is the offset portion of the North Silver Bell porphyry center mentioned above. However, geochemistry and geology suggest other targets may be present as well.
The Mammoth Wash project is part of Jaba's study of the entire Silver Bell porphyry system which is now generally recognized as part of the rim of the Laramide (65 to 72 million year old) Silver Bell volcanic caldera. Jaba believes that not only has the Mammoth Wash area been offset to the south but so has the entire West Silver Bell mountain range. There on the western edge of the caldera is Jaba's Gap Tank project. Extensive remote sensing, geophysical, geochemical, geologic and alteration studies, and preliminary drilling show potential for additional porphyry copper centres. This area is as large as the exposed part of the Silver Bell district owned by ASARCO. Additional analysis and technical work is continuing to refine targets. This area is available for joint venture.
In the eastern part of the caldera, the proposed east extension of the Silver Bell zone, work on the ESB (East Silver Bell) project joint venture with Valerie Gold (Stockwatch March 4 1998) is continuing. Geophysical work is anticipated shortly and drilling should start later this spring. Valerie is obligated to perform a minimum of 4,000 feet of reverse circulation drilling in the first year of the joint venture.
CAP II, headed by J. David Lowell of recent Arequipa fame, is drilling deep RC holes (permitted to 2,500 ft) approximately 50 ft south of the East Silver Bell project border.
canada-stockwatch.com
Chucamammmouth-drill that dirt.
PS- Here is an interesting post I saved from SI ..don't have time to link so find the thread! E Charters
Subject: ECHARTERS
To: knight
From: E. Charters
Mar 28 1998 6:31PM EST
Reply #2478 of 2479
That is high unless you are talking difficult access and
NQ. It depends on how many feet and how far back. If it's a
short hole or not many holes and all short I can understand
that price structure. Prices should be coming down a tad this
summer.
BQ by the side of the road should go for 15-16 a foot. In Canada
it's quoted metrically. I am drilling now for 38 a metre which
is a special deal. Don't try to get that.
So think in terms of 15 a foot plus mobe and demobe. So of you
have 5,000 feet you might pay about 85,000 in some situations.
You can add extra for cementing and rough ground. That is by the
hour and might be 150 an hour. (CDN)
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Chuca says thanks for the $100,000 + CN buckerroos , Valerie!
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