Please read on some past MIQ reports posted on SI.
Brandon, on your request I posted today June 11, 98 on my web Railroad map with references to
(Carlin and Pinon/Anticle), intersecting almost right on top of the Bunker Hill zone..
Everybody can look at it : ww.total.net
By patent loading it is 140k file.
+++++++++++++++++++++++++
In addition to Elko, Nevada announcement here is today Oct 14, 97 Northern Miner,
#33 announcement:
Mirandor finds more gold in Nevada
Preliminary drilling by Mirandor Exploration (Mio-M) has uncovered three new gold
zones on its Railroad property in Nevada's Carlin trend.
Dubbed Bunker Hill, LT East and Elliot High Ranch, the zones returned low-grade
mineralization. Values ranged from a low of 1 gram gold per tonne over 18.3 metres,
which was intersected at the Elliot High Range zone, to a high of 5.66 grams gold over
13.7
metres, which was intersected at Bunker Hill.
Drilling at the LT East zone returned one interval of 4.6 metres (from 39.6 to 44.2
metres) averaging 3.67 grams gold.
Meanwhile, at the previously discovered POD zone, a newly drilled hole returned 50.3
metres averaging 2.13 grams gold, including 16.8 metres averaging 3.46 grams, within
which 4.6 metres graded 9.43 grams.
Drilling continues.
+++++++++++++++++++++++++
To: +Robert Peter Bies (1208 )
From: +Stocks
Wednesday, Oct 8 1997 7:59PM ET
Reply # of 1985
Hey folks,
For those of you not on the Agora database for MIQ shareholders, here is what George
at Agora International was able to obtain. It appears some tough questions were
answered and there were some good answers overall. Thanks for coming through with
what you promised George, it is much appreciated. Keep it up and tell MIQ to do the
same!
Good afternoon, MIQ investor. Please find below our Q&A session with MIQ.
The questions asked were the ones which were most frequently sent to us or
posted on the Internet. Of course, there are many questions which can be
asked but we believe it was more constructive to concentrate on the most
important ones.
Please be advised these Q&A's were prepared prior to today's press release.
Regards,
George Tsiolis
Agora Internet Relations Corp.
--------------------------------
1] Based on earlier information released by George Tsiolis, shareholders
were under the impression that MIQ was drilling 4 holes at LT, 3 at
Darkstar and 4 at POD. How come you only released one hole at each? What
were the other results and why were they not released?
RESPONSE:
There appears to be some confusion concerning our internal nomenclature
system. Because of the large size of the property, it has been divided into
subgroups for easier reference and management.
For example, Elliot High Ranch (EHR) is a subgroup of claims having an area
of some 3 square miles. One hole on EHR discovered a new gold zone which
appears to have impressive strike, length and depth extensions. Step out
drilling on the gold zone is the next phase on EHR.
The same general description holds true for LT East.
We will avoid details on our drill program; most of these details are
internal and their disclosure can only lead to confusion and
misinterpretation. In some cases, holes are not designed to intercept gold
values (if present) and are not even assayed. Rather than discover
possible ore bearing rock, they define geological systems, structures, 3-D
geometry (dip, angles, plunge, fault angles throw distance and direction)
and so on. Of course if any "juicy" looking rock is encountered in one of
these holes, assays will be carried out on that portion. Sometimes a hole
designed purely for geological purposes results in a discovery, but this is
the exception, not the rule.
Rather, these holes guide us to where the most probable location of a
mineralized zone could be located, where discovery drilling then begins.
The discovery holes are the significant holes !
A time delay also exists between drilling and reception of other data from
the holes; the rock must be closely examined (using binocular microscope at
the field office), samples chosen (if necessary) and sent for assaying. By
now, the drill is already on another hole. By the time the information is
received from the lab, the drill rig is probably (in a preliminary phase of
a program such as ours) in a completely different area. Of course, as this
phase of preliminary drilling ends, we then begin Phase II, which involves
detailed drilling on our discoveries.
Because of the quality, location and size of our property and the number of
possible gold and or base metal deposits that could be contained on it, we
are still drilling a preliminary overview phase that has already resulted
in 3 new discoveries as well as an enhancement of the POD deposit.
----------
2] The text of your press release uses some fairly strong language with
respect to the significance of these results. The majority of opinion on
the Internet seems to be these latest results are good. Some have said
they are excellent, while others have stated they are not very good. Could
you please shed some light on this matter by putting these results into
context? Perhaps a layman's terms explanation for those of us less
analytically inclined?
RESPONSE:
In the context of the Carlin, these results are outstanding. The mining
companies in the Carlin (i.e. Newmont, Barrick) all received similar
results during the initial stages of the exploration programs on what are
today their mine sites.
There are 3 pre-requisites for ore bearing rock in the Carlin:
1) Rock type
2) Structure
3) Alteration
If you have these three, you've got a decent shot on your property.
If in addition you have mineralization (gold, copper, silver or whatever)
on your Carlin property, the odds of finding a minable ore deposit on your
project are very much in your favor.
If in addition to the above, you not only have evidence of gold
mineralization, but you can actually calculate tons (as in POD), then it is
beginning to be real "juicy".
If in addition to the above, you have areas of your property that are
unexplored, but upon drilling, results in completely new gold discoveries
well the chances just keeps on getting better.
If in addition to all of the above, your property in the Carlin has a past
mining history, well... "if it quacks like a duck, looks like a duck,...
it's a duck!!
There are some people that for their own reasons or because of their
inexperience (ignorance ?) of geology, or of exploration on the Carlin,
make statements that are groundless. Often these may be caused by jealousy
(there are always doomsayers; when Barrick made its big discovery at
Goldstrike, there are those who said that is wasn't that good, that they
had a lot of problems, that the hole was down dip, it would never make a
mine... and so on and on).
Some people may have taken a short position in the stock, who knows? One
must look at the results from any exploration program in the context of the
location of the project, the presence or absence of mining activity in the
immediate area, and the quality of the results (you obviously need to mine
a higher grade to make a profit if you're mining in the Arctic Circle, or
Indonesia...).
--------------------------
3] In your press release dated July 23, 1997, you stated as follows:
"To date, limited exploration on the large project has not exceeded 800
feet, while the new high grade gold deposits in the Carlin Trend are all
below 1,000 feet. The company will be drilling at these depths, for higher
grade gold deposits."
However, the deepest drill results in your last press release was 555 feet.
Did you in fact go deeper? If not, why not and do you plan to do so in
the near future?
RESPONSE:
We do not release depth of a drill hole (which is essentially meaningless
outside of the context of the exploration program design), rather we speak
of the depth intercept of the particular structure we are drilling.
At this point in our program we are still in a preliminary phase and have
not begun to drill our depth extensions yet.
We, however, do not understand the sudden emphasis on depth. While the new
rich discoveries in the Carlin are at depth, there is nothing wrong with a
nice big open pit, followed by an underground mine, like Goldstrike. All
the depth discoveries in the Carlin were made after mining had started at
the open pits.
We are great believers that at Railroad, the depth extensions will be rich,
and will also be at shallower depths than at other areas (at Meikle the
depths are greater than 1500 feet). In our Railroad district where the
Rain mine is a good example, the depth to rich ore is about 800-1000 feet.
But, there is nothing wrong with a surface deposit. This is what built
Newmont and Barrick, good examples for us to emulate.
Our exploration program is patterned on the exploration programs of the
companies that are successful in theCarlin Trend.
We are doing it the way it must be done!
It worked for Barrick, and Newmont.
-------------------------------------
4] Given the latest drill results, are you currently drilling at POD? EHR?
If so, can we have some details of the drill program? If not, why not?
RESPONSE:
As before, we will avoid giving out myriad details on our program, so as
not to cause confusion and misinterpretations. At this time, there are
over 10 full time professionals on this project, often working 7 days per
week. This is generating an enormous amount of information, the vast bulk
of it useful only to those in the field. Suffice to say, there's a lot
going on out there, and we continue to emphasize our game plan: Gold
Discoveries (we're already been successful, and there's a lot more to come).
-----------------------------------------
5] There has been much talk on the Internet with respect to the new
"Dikeswarm" discovery. The Investor's Investor reported in July that very
significant trench results were made and that we could expect a press
release in the very near future. It is now October. Can you comment on
the validity of this statement and, if it is valid, could you please advise
as to why we have not heard anything from the company?
RESPONSE:
We are quite excited about "Dikeswarm", however we just haven't gotten to
it yet. That in itself demonstrates the high potential of this (Railoroad)
project.
-----------------------------------------
6] I understand that current finances and roads on our property have made
it possible to drill through to December at least. Therefore, when can we
expect to see more drill results this year? Will we have to wait another 6
months?
RESPONSE:
Yes more results. No, not in six months. We have the team and financing
in place at Railroad. As such, work is continuing as we write, from which
we can expect to see more results in the near future. However, if the
latest round of trading activity has taught us anything, it is the fact
that many people still trade by the principle of "buy the rumour and sell
the fact". Specifically, with information circulating through the market
that we were going to issue a press release, too many speculative investors
were given the time needed to purchase cheap stock for the purposes of a
quick flip. It is these investors which played a role in the negative stock
price reaction to our latest news. How? When MIQ re-opened for trading
last week, there were thousands of shares offered for sale at relatively
low prices. These were obviously not long-term MIQ investors who were
suddenly now willing to take a 20 cent profit.
----------------------------------------
7] Could you please comment on our current financial situation? For
example, how much cash do we have in the bank? Did BPI exercise all their
warrants? How long will this cash last given our current monthly "burn rate".
RESPONSE:
Current financial allows for the completion of the planned campaign. By
law, the company can not release financial information unless it is in a
press release. However, as a public company, we are obligated to report
our financial position to the MSE on a quarterly basis, as well as, our
annual report. As such, with the last quarter having just ended, the
information will be available through the exchange shortly.
With respect to warrants, we are not allowed to make comments on the
investment activities of particualr shareholders no matter how big or
small. Again, this is by law and not a way of avoiding answering the
question.
----------------------------------------
8] There has been much talk on the Internet that MIQ has been holding
information back. Could you please comment?
RESPONSE:
We do not "hold back". We announce significant results (positive or
negative) when available and meaningful in the context of the drill program.
---------------------------------
9] Can you comment on the amount and sources of selling pressure MIQ was
under leading up to the release? If a shareholder wanted to review Insider
Trading Reports for an MSE company, where could he find them?
RESPONSE:
Insider Trading Reports are available at the Securities Commission. Most
(or all) of the selling persons came from small individual shareholders of
1000-5000 shares who were often dealing with discount brokerage services
and did not have access to investment advice.
-------------------------------------
10] It is obvious there was no buying "lined up" to help push the stock
price after the release. Can you comment on this? What is your opinion as
to why the stock price fell after the press release?
RESPONSE:
We do not "line up" buying. First, regardless of what you may have heard
from others, from "inside sources" or from so-called "people in the know"
one does not and cannot "line up" buying prior to a press release.
We believe the stock reacted to "panic" selling by individual shareholders
at market. There were no large individual sellers and in fact we received
numerous congratulatory phone calls from professionals in the industry.
The solution to this, is to continue drilling and to prove up the value of
our property. Since BRE-X, the markets are a bit testy (to say the least)
towards exploration companies, who all got lumped into the same bag.
However, how many companies have properties of our size and potential,
outside of the majors? (None!)
--------------------------------
11] Why were your last set of results released in ounces as opposed to grams?
RESPONSE:
The reason we report in ounces is that in the United States, the metric
system is not implanted and hardly anybody outside of the mining industry
understands grams per metric ton. In Canada we understand both. It is
obviously easier then to report in ounces.
------------------------------------
12] Any final thoughts or comments?
We have a personal message to all involved, which is essentially to stop
looking under rocks for conspiracies, for the why's and wherefore's of who
is selling, what this means and what that means...etc.
Examine the results, fundamentals never lie!
Two of the golden rules of exploration are:
1) You find a mine near a mine; and
2) Location, Location, Location.
Combining these with our results to date, one immediately realizes that our
fundamentals are solid. When we look at the size of our property and our
outstanding results already, we have a project that has great chances at
becoming a producer.
The market will correct itself. We are working towards becoming a major
mining company like those that were born in the Carlin. We are in the
incubator.
END
+++++++++++++++++++++++++++++++++++++
o: Bob Tate (1724 )
From: Stocks
Thursday, Feb 26 1998 5:22PM ET
Reply # of 1985
Bob, A BIG THANK YOU AGAIN!!!!
You've once again shown what these threads should be all about, a little information
from all and as a group can invest with a lot more knowledge and comfort.
I'm looking forward to the new website with the new maps once it's up. You and I have
discussed in the past the two axis' (Carlin and Pinon/Anticle), intersecting almost right on
top of the Bunker Hill zone. In fact, they intersect over the Davies Mine...once the map
or maps are up, we can discuss and regurgitate some of our discussion here on the
thread so that other's will have maps to refer too and understand what we're talking
about. I thought you had some exceptional insight on that theory as well!
We'll talk soon and for the other's I think you'll see some interesting discussion. But let's
just wait for the maps to be available, it's nothing that can't wait at this point. Some of
you already know what I'm talking about anyway.
Brandon
++++++++++++++++++++++++++++++++++++++
Brandon I posted today June 11, 98 on my web Railroad map with references to above.
Everybody can look at it : ww.total.net
By patent loading it is 140k file.
++++++++++++++++++++++++++++++++++++++
Here are MIQ neighbours just south (to be checked). Darkstar apears on both MIQ and Royal maps. They either share same name Darkstar or may be same geographical area . Railroad project is marked too on their map: royal-standard.com
In any case you can see how hot this area is.
I did not follow news but Cameco was quick to make deal with Royal.
Please read bellow many similarities in company strategy and expectations as with MIQ.
Royal Standard has acquired an interest in the Pinon project, located in the southern Carlin gold belt about 10 miles south of Newmont's Rain mine, 25 miles southwest of Elko, Nevada. Exploration has identified two potentially bulk-mineable gold deposits and a geologic mineral inventory approaching 1 million contained ounces of gold.
Pinon's principal land holdings include the Pereira Trust property consisting of surface and mineral rights to 34,000 acres and several sections of unpatented lode claims.
Carlin-type, epithermal sediment-hosted gold mineralization has been identified in several areas. Three principal mineralized target areas delineated to date have been designated as South Bullion, Dark Star, and Jasperoid Wash. Gold values in these areas are closely associated with silicified and limonite stained rock units.
The South Bullion deposit occurs in silicified rocks along a thrust fault at the base of the Webb formation. Gold is associated with late stibnite and abundant barite primarily within jasperoidal lower Webb siltstone and to a lesser extent in jasperoids developed in the Devonian Devil's Gate limestone.
At Dark Star, gold occurs in strongly silicified Tomera formation which is cut by hydrothermal breccia.
Jasperoid Wash is the third and largest surface gold anomaly on the property. Gold in this area is associated with a north trending fault zone and several rhyolite intrusions within the Diamond Peak formation.
Two gold resources, the South Bullion and Dark Star deposits, both have the potential to exceed 1 million mineable ounces of gold.
At South Bullion, reserve calculations indicate a potentially mineable resource of approximately 6.6 million tons grading 0.03 opt gold at a 1.5:1 waste to ore striping ratio. The potentially mineable resource at Dark Star is estimated to be 6.3 million tons grading 0.021 opt gold at a 1.5:1 waste to ore strip ratio.
The geologic mineral inventory for the entire project is presently estimated at 38.3 million tons grading 0.026 opt gold. Much of this larger resource lies below 200-300 feet of unmineralized rock. Oxidation is pervasive at both the South Bullion and Dark Star deposits. Metallurgical test results indicate that the potential ores are some of the least refractory rock in the Carlin Trend. Recoveries in column leach tests show that the gold is heap leachable and may allow a low grade, run-of-mine component. The close proximity of several potentially viable gold deposits and exploration target areas may be advantageous relative to future mining.
The Dark Star, South Bullion and Jasperoid Wash gold anomalies remain the principal targets within the property holdings. There may be several other attractive secondary drill targets.
The surface mineable portions of both the South Bullion and Dark Star deposits may be expanded by detailed drilling of the zones and extending the higher grade feeder zones within the deposits. Potentially mineable underground inventories may also be developed by following these zones of higher gold grades along favorable stratigraphy and/or down structures that were channel ways for the gold mineralizing hydrothermal fluids. The deeper high grade potential remains to be tested. Positive results could significantly increase the size and grade of the current resource.
A joint venture option agreement with Cameco Gold Inc. was completed in early 1997.
++++++++++++++++++++++++
Two recent news releases failed to wake up this sleeping giant on the Montreal Stock Exchange. January 15 RSM released the latest assay results from its 100% owned Caliente property in Nevada. Do not
confuse this Nevada property with RSM's Carlin Trend Pinon project, also in Nevada. Results of
drill exploration before Christmas on the 70% owned Pinon project suggest a multi-million ounce gold deposit on the 40,000 acre property. A pre-feasilbility study is in progress with plans to bring near
surface deposits (300,000 ounces gold currently) into early production. Deeper deposits are to be explored jointly with Cameco Gold some time this spring. With cash costs of production estimated at
between US$110-140 and recovery rates up to 80%, near surface production of this advanced stage deposit could be profitable despite lower gold prices.
++++++++++++++++++++++++
Here is a site if somebody wants to get detailed Elco , Nevada area map by USA geological survey cost $4.0 :
cpg.cr.usgs.gov
I- 1028 Geologic map of the Carlin-Pinon range area, Elko and Eureka Counties, Nevada.
1978 1:62,500
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