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Gold/Mining/Energy : Plata Mining Limited (PMT.A)

PMT 12.04

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Oct 31 9:30 AM EDT

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To: Ulster1 who wrote (30)	2/19/1999 12:05:00 AM
From: spinner	Read Replies (1) of 68

Ulter 1 Just noticed this posting on StockWatch. Looks like this trip to Argentina is pretty important. Hope someone has some news from Calgary. Spinner 1. Plata Property I realize that the map of the Hualilan site on the Plata website is a little confusing. This is a because it is only a map of the original 338 hectares. This is the area where the first mine will be on the Cerro Norte. As you can see by looking at the map of the Cerro Norte and Cerro Sur that 15 mine shafts existed at different times since the 16th century when this area was first mined for gold. In looking at the geological schematic of Cerro Norte I assume that the mining will be done along the easterly trending Sanchez Fault with the centre being the original Doña Justa pit as it appears to be at the junction of this fault and the southeasterly-northeasterly trending Rockslide fault. I haven't seen the most recent work done so I may have to make another correction on this. The website map was created before the fall of 1997 when Plata acquired the surrounding property which brought its entire holding in the Hualilan district up to 10,755 hectares. All of the geological records and work that we have been quoting refer only to this original acquisition. We do know that the larger surrounding property was purchased because of its very promising geology. During the visit this coming week to Argentina, Mr. Davis and Mr. Callaghan will gather much more information about the larger property and I hope that we will see a map of the entire property complete with potential sites on the Plata website in the near future. As well, I hope that information about neighbours and other past and present projects in the near vicinity will also be included. Until the first mine starts up and real money is being produced, a drill program on these other sites is premature. Drilling. Although an extensive drilling program was outlined originally for 14,000m of reverse circulation drilling and 3,000m of diamond drilling, the company feels that the drilling done to date is sufficient to justify production. Rather than spending money on further drilling the money was spent on the 4% incline ramp so that production could start. Drilling will continue underground from the ramp as it becomes necessary to follow the veins. This approach differs from companies that seek to prove up massive reserves first, it does not however preclude the fact that Plata may prove much larger reserves in the near future once production has started. Weather The Cerro Norte site is located 1,750 metres above sea level. This is not considered that high. I know that there has been some concern expressed about the weather in regards to the Argentina Gold drilling program. They are located at 4,200 m.a.s.l. and they are doing surface drilling. The seasons in Argentina are opposite ours but we have been assured that the weather is not a factor and that drilling and production work will proceed all year round. Importance of this upcoming trip. Nothing is for sure until the experts return and make their recommendations. They will be seeing this property and others and will be considering countless details. As always I expect that Plata will make whatever information they can available to us as soon as possible. I guess the eerie calm that has come upon this forum and the slow and quiet trading of the past two weeks portends the storm which may begin as early as next week-end. hope this helps, goldberg

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