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Fairmile Gold Corporation FLA
Shares issued 19,651,553 Apr 7 close $0.20
Wed 8 Apr 98 Company Review
Mr Steve Stakiw reviews the company
The company has been focusing its efforts on its wholly owned Buffalo
Valley gold project on the Battle Mountain/Eureka Trend in north-central
Nevada. In 1997, the company formed an agreement with Echo Bay Mines which
financed exploration, including confirmation drilling, through a private
placement in Fairmile. In January 1998, Echo Bay gave notice of its
inability to continue in the agreement. Resultantly, the company is now in
discussions with major mining companies which have expressed very strong
interest in the project, and expects to be able to announce a new partner
in the near future.
The Buffalo Valley project presently has a resource of over 600,000 oz gold
(within the A/B/O complex). Planned work programs, including further infill
drilling, are aimed at upgrading and expanding this resource. Exploration
work elsewhere on the property continues to yield excellent results with
the strong potential to substantially increase the gold resource.
Recently, the company acquired 100% interest in the Highland gold project,
in the Walker Lane Trend of west-central Nevada. Initial evaluation has
identified four priority targets scheduled for follow up, and has indicated
that the geologic setting at Highland is similar to other low-sulphidation,
volcanic dome-related gold systems such as Sleeper and Midas, also in
Nevada.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
