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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: Goalie who wrote (1101)	5/13/1998 3:13:00 PM
From: VAUGHN	Read Replies (2) of 7235

Hello Goalie I had a long talk with Howard Bird yesterday afternoon as we ran into each other outside the Diavik office. He is convinced the source of the Yuri is there but the sediments are completely obscurring the pipe. He also confirmed that he can not conceive of a dyke producing float the size of the Yuri, so its either a large blow or a pipe. The granite graywacke contact apparently runs through the middle of Munn and dykes have been found in both but I believe are more prevalent in the graywacke. The water is relatively shallow which explains the early ice out. There are quite a number of islands, so dykes could be built around a pipe for mining along the same lines as the Diavik proposal in Lac de Gras. Actually, the water here generally appears to be shallower. He was very enthusiastic about the eclogitic nodular content of the Yuri and quite obviously SUF believes that its source should be a highly economic deposit assuming the size is more than a hectare. I am guessing here but its not uncommon for kimberlites to be offset from their magnetic signatures up here, especially in graywacke. We may be dealing with an off-set here due to a change in the magnetic field since the pipe was emplaced. The trick is to figure out how much. They are not always the same distance or direction. I suggested to Howard that SUF think about trying ground penetrating radar and he thought seismic might achieve the same end (defining any obvious changes in rock density and/or actual basement depressions as opposed to lake bottom sediment depressions). Kimberlite being more porous than graywacke or granite, it should show up distinctly or at least its actual crater should be distinguishable from any surrounding raised basement host. As you know SUF will be using a sonic drill next February/March to sample basement rock/gravel contacts and try to hone in on an unmixed source. Apparently Kennecotte has had some good success in Lac de Gras using this equipment. If I can pick up IAR for pennies later this year, I will probably get back in as I have allot of confidence in HB. I fortunately broke even as I bought it in December/January when it was $0.25. Regards

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