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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: I Am Sandman who wrote (479)	9/28/1999 7:54:00 PM
From: Little Joe	Respond to of 1321

Speculativestocks.com Visits Mine Site and Boy are They Impressed.This is their report. "This past week we went on a trip to view the Wayside mining property ( IWA/VSE ). As you are aware we have had this company as our Preferred Guest Stock for a year and we had hoped there would be significant movement in it. This has not occurred partly due to the price of gold, and partly because there has been a lot of ongoing work on the property that has not been reported. We can however report what we have seen and it is truly encouraging. We toured all the areas currently under a work program, except for the proposed open pit workings. At the BC vein is something we do not think exists in many places. We went to the shaft that was dug down 900ft into the vein in the early forties and there is an exposed section of this quartz vein that had a vertical face of nearly ten feet, that then sloped up another thirty feet to a height of nearly twenty feet. At this location this quartz vein is a little over twenty feet wide and it was exposed along its length for nearly 200ft. In the Lowhee Creek area just beside the BC vein, ( approximately 200ft downslope ) there is another very large exposed quartz outcrop called the Black Bull vein that has never been explored. The BC vein has currently had 8 new holes in it awaiting assay. On the other side of the property at the Mosquito mine we went into the recently rehabilitated #1 drift and saw some of the replacement ore that had been originally taken from this area. ( replacement ore is deposited by hydrothermal action where it melts and replaces the surrounding limestone. It is very very rich, between 2 and 10 ounces per tonne ) What was astounding was at the face of this drift there was an exposed quartz/massive sulphide vein nearly 5ft in width and this extended up to the top of the drift. there are no records of this vein ever existing, let alone being assayed. We took a sample off the face by scraping our hands across the surface. The massive sulphide/quartz was extremely rotten and came away easily in our hands. The company was drilling along strike of this vein while we were there to a distance of 500ft in front of the face. These drill cores are apparently in for assay and we expect this to be released shortly. We watched the drill core being cut and the drill penetrated the rock easily, which confirms the softness of the material. Core showed evidence of quartz/limestone with pyrite. There is also an extensive library of drill core from prior operators ( We believe it was Hudson Bay mining ) that has not been assayed either, yet clearly shows quartz/pyrite intercepts. The difficulty the prior operators had was everyone had a small piece of the pie. Since the Mosquito/Island Mountain property has been consolidated with the Gold Quartz property, it appears clear there are numerous ore bodies in the adjoining areas between the separate mines that have never been tested. The Island Mountain property was mined from the Valley level down and the 500ft above these levels to the top of the hill has never been touched. The same situation occurs in many areas of the Mosquito mine down to the lower levels of the Island Mountain mine. The geologist was very excited about the prospects, especially the areas that he considered, geology wise, would have the same ore bodies as the old workings.. Having seen the property first hand we would agree with his feelings. There are quartz veins with pyrite, massive sulphides in quartz, and replacement ore, all on one property. Some, like the BC and Black Bull veins are huge quartz veins, others like the Gold Quartz property are riddled with smaller veins, while the Island Mountain/Mosquito mines are riddled with quartz and replacement ore. The Tuesday edition of the Canadian Globe and Mail had a reproduction of a 1931 front page. This had an article at the bottom saying Treasures of the Cariboo are still to be found. We would suggest that they have been identified and are only awaiting being placed into production. With the upsurge in the POG this stock has a ludicrous valuation. 25 million shares fully diluted and a stock price of CDN$0.10. This gives the company a value of CDN$2.5 million dollars. There is a drilled resource on the Cow Mountain property alone of over 1 million ounces. At todays stock value, this resource is valued at $0.40/oz. There is no consideration given to the addition of the Island Mountain/Mosquito properties, nor is there any consideration given to the massive BC Vein. 2400ft long by 20ft wide by over 900ft deep and gold bearing. While the senior gold stocks will give a good return over the next few months, we also believe this one will be a home run and should not be overlooked."