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Gold/Mining/Energy : NWT Diamond Stocks for 1999
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To: Rocket Red who wrote (40)2/15/1999 9:05:00 AM
From: Andrew  Read Replies (1) of 62
 
Red. They start sonic drilling on the 24th.

I own SUF as well, actually my largest spec holding and maybe not so speculative these days.

I own IAR as opposed to KLA because they are more leveraged to the play due to way less shares out and KLA management is well... you know

JMHO but IAR will make a nice run in the next month or so to .50 - .60 range. Currently .35.

Also I think of all the NWT programs this year this the one with the best chance of finding a pipe. The right people are running the program (SUF) and they have proven expertise and as far as I know Chris Jennings is responsible for staking much of the best ground in NWT including Diavik. I try to follow success and this Man is truely one of a kind.

I've spoke with several people at SouthernEra including CJ over the last year and have done my DD well on this one.

This sonic drilling they are doing will only drill shallow holes into they lake sediment. Samples will then be processed on site for indicator minerals etc. The plan is to follow the indicator trains upice into the lakes. Where the indicator trains end is where diamond drilling will no doubt make swiss cheese out of that portion of the lake. As far as I know these indicactor trains have the best chemistry in the NWT and only show on one side of the lake therefore the source is very likely to be in the lake.

I'm no geologist but it is MHO that this methodical approach has a great chance of success and if they can't find a pipe doing this there very well is no pipe.

Andy
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