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Gold/Mining/Energy : Golden Eagle Int. (MYNG)

MYNG 0.0700

+5.7%

Feb 21 4:00 PM EST

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To: CIMA who wrote (11409)	7/28/1998 8:25:00 PM
From: E. Charters	Read Replies (4) of 34075

Open Letter to Mr. Birge: Hey Cam! Hear you got a ticket to go to Bolivia, of all places to inspect the workings of GE, those big mines boys. Congratulations. Let me be of assistance to you in any way I can. I understand you are going with a geologist. Good I have been in the mining and exploration business for 20 years and even went to to school to take a few courses in geology and the like, just to stay harp. I don't figure I have to go to Bolivia to get the gist of where Golden Eagle is at but to keep an open mind I would share with you an honest and careful opinion of all data you may come across. I worked for Tintina Mines, TSE as a placer mining consultant and also as a miner and superintendant at a few other operations. I may be able to give you a few germane pointers that may help you with your analysis. It may help to take a few samples yourself. I used to take photomicrographs of placer samples with a 35 mm camera and adapter and binocular 60 power microscope. You can tell a lot about a sample's value that way, especially if you have panned it yourself. It may help if you are going in the field to take a 14 inch Estwing gold pan with you. It is easy to learn to pan if you are co-ordinated and there is nothing like a bit of hands on testing. A feel for whether the visual results are significant is a matter of experience. Knowing where to take the samples in virgin ground is also a matter of knowledge. But you have little time to learn so it's off to the races. I read the 10K of this company and I know some people who used to mine Tin in Bolivia. The problems with foreign mining in Bolivia in the past were mostly political. No doubt it has a lot of untapped potential. 157 million ounces of gold is 4882.7 million grams. At one gram per ton that is 4.8 billion tons. Lets say the deposit is 200 feet deep and 2640 feet wide. It would be 28 miles long. That is right, 28 miles long 1/2 mile wide and 200 feet deep. Could it be there? Well California has a lot of big deposits that collectively may have approached that size. One valley is a bit of a stretch. To prove this and to disprove this I would estimate that you would need to take a sample at least every 1/4 mile square. That sample should be to bedrock too. That means an augur drill hole. So that is 56 augur drill holes to give us a regional idea. Failing that, take some screens. 2 feet square. 8 mesh and 14 mesh. Put 150 pounds of select gravel from high energy areas through the screens and pan the sand in the sub mesh size. It should be 15 pounds after screening. Pan it down to about 6 ounces and split it and get a bottle roll cyanide on the reject and tell us the results. Take about 250 of those samples in the area in high energy areas and some in relatively low energy areas and take notes. I estimate with 6 trusted assistants you can complete such a sampling expedition in about 2.5 weeks with transportation support. Cost to assay the samples would be about 7500 dollars. Have a good trip. I daresay it will be inconclusive but have fun. echarter@vianet.on.ca The Canadian Mining Newsletter

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