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Gold/Mining/Energy : ENERGOLD (EGD.V)

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To: CIMA who wrote (105)3/11/1999 9:45:00 AM
From: keith schaefer  Read Replies (2) of 130
 
Things to remember when reading this press release

1. Although the numbers didn't show economic grade, the holes were spaced far apart - 200 m. We've always known the background mineralization was not economic, and that we needed to intersect the higher grade zones we saw in the trenching, which were 20m - 30 m wide. This particular time, we didn't hit those zones.

2. The holes indicate there is mineralization from surface down to 100 m true depth, and is open at depth. Again, if this deposit is to be economic, those higher grade zones will have to be found, but the tonnage potential is still excellent.

3. These 7 holes came from the top of the hill at Longyear, where the oxides were shallowest. These first 7 holes would represent a very small portion of the oxide orebody. The longer oxide intercepts were in the last 14 holes.

4. At Pueblo Viejo, they didn't know what they had until they were at 25 m drill spacings.

5. We don't know what controls mineralization. These were prospecting holes, our first, and the type of rock we thought would run, didn't run consistently.

6. Atna is coming out with drill results on the first two holes for San Antonio later this week.

7. The second 7 holes from Longyear should be available within a week, the last 6 within 2 weeks
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