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Gold/Mining/Energy : MPVIF Mountain Province Mining
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To: skelly who wrote (799)4/21/1998 4:00:00 PM
From: Gabriela Neri  Read Replies (1) of 2577
 
David James makes some comments which are highly constructive to MPV. Dont worry, Momopros is sticking with this baby.

Mountain Province Resources (MPV : VSE : $4.90 : Issued 42M)
>
> Late last week we were briefly updated on the Mountain Province et. al.
> project. The joint venture established with Monopros (De Beers) early
> last year which resulted in the discovery of three new diamondiferous
> kimberlite pipes on the Mountain Province-Camphor (90-10) AK Claims in
> the NWT, continues with full momentum. Initial caustic fusion results
> from drill samples taken from the Tesla, Hearne and Tuzo pipes
> returned encouraging counts of stones in excess of 0.5 x 0.5 mm (a
> stricter dimension than the 0.5 mm in one dimension commonly defining
> a "macrodiamond") with counts in the range of 1.2 to 2.9 per 10 kg of
> sample. Further results were released Dec. 18/97 with 3.0 macros per
> 10 kg from the Hearne and 1.2 macros per 10 kg from Tuzo.
>
> The 1998 winter program got underway in mid-January and by the latter
> part of April, 50 tonnes of sample had been drilled from each of the
> four pipes (including the original 5034 pipe which has a resource of
> some 20M tonnes grading 2.48 c/t with an apparent value per tonne in
> the US$75-80 region dependent on the recovery screen cut-off size).
> These mini-bulk samples will be processed at Monopros' plant in Grande
> Prairie with the concentrates sent to South Africa for grade and value
> determination: this data should be fed back in May-July. Exploration
> drilling has also been carried out testing other targets potentially
> related to the eight or nine indicator mineral trains on the property.
>
> The results of the mini-bulk sampling, if favourable, could lead to an
> underground full bulk sampling program leading into a prefeasibility
> study. Monopros can earn a 60% interest in the project by funding
> development: Mountain Province would have a 36% net interest. While
> we don't see the stock running away, it should perform well as long as
> Monopros sticks with the project.
>
> David James (204) 988-9602
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