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Gold/Mining/Energy : MPVIF Mountain Province Mining
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To: Gabriela Neri who wrote (874)5/30/1998 7:51:00 AM
From: Al Krasberg  Read Replies (1) of 2577
 
Gab -
Gerle has the Doyle Lake property just south of the AK (just 200 metres from the Hearne). They have a similar deal with Monopros, but started well over a year earlier.
Monopros earned their 60% there a long time ago. They've been chasing very promising mineral trains and drilling holes willy nilly with no success so far, much like what was being done on the AK after finding the 5034. Having said that, Monopros learned a lot about the complexity of the mineral trains at Doyle Lake, applied it to the AK, and got some results. Doyle Lake exploration is thus part of DeBeers' learning curve for the AK.
Gerle is relevent because in DeBeers' eyes the AK and Doyle Lake are all the same field and all the same property. A good pipe there increases the total resource and thus the chances of a mining operation.

The purpose of a minibulk is to obtain some idea of the value of the ore. 3 or 4 carats/ton of sandpaper-grade $5/carat diamonds for the Hearne would not get anybody at DeBeers very excited. The value of the ore is what people are after, and that's $/ton, not carats/ton. Grade is only half of it.
Having said all that, I've heard that on the basis of what they know now about the ore they've pretty well decided to proceed to the next step.
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