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Gold/Mining/Energy : Fairmile Gold
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To: MiKe who wrote (3710)10/29/1998 12:29:00 PM
From: Steve Stakiw  Read Replies (1) of 4057
 
Mike, Fairmile Gold has conducted extensive drilling to date on the Buffalo Valley project. However, a feasibility study has yet to be done.

The resource of just over 600,000 ounces is just that, a resource. It cannot yet be technically classified as reserve.

The scope of the work to date has been extensive and includes approximately 200 drill holes on the property by Fairmile and partners.

To take the project to feasibility stage would require further drilling (increased drill density) to provide a higher level of confidence in the estimate and examination of specific blocks to determine the economics, etc.

As such, it is not yet possible to give you an estimate on the amount of the resource which is presently economic.

Fairmile Gold is continuing efforts to secure a joint venture partner for the Buffalo Valley project.

Thanks for the good question Mike.

Regards,
Steve
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