Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : NOVAWEST RESOURCES INC. (NVE.v) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Campagna who wrote (1393)	6/7/2000 8:13:00 AM
From: Mike Campagna	Respond to of 1434

Hmmmmmm Been awful quiet since the end of Jan. NovaWest confirms second body of kimberlite NovaWest Resources Inc NVE Shares issued 17,831,865 Jun 6 close $0.28 Wed 7 Jun 2000 News Release Mr. Patrick O'Brien reports The company's drilling program presently under way has confirmed a second body of kimberlite on the company's Bucke Kimberlite Pipe project in northeastern Ontario. The company anticipates the confirmation of up to three kimberlite bodies on the property to completion of the drilling. Diamonds The newly identified Northwestern body is situated approximately 500 feet west of the Main Northeastern Pipe (Diatreme) previously confirmed to host both macro and micro gem quality diamonds. Based on current drilling the new kimberlite body has a width of at least 200 feet. Drilling is now being expanded so as to more accurately define the spatial configuration of this more westerly kimberlite body. The ongoing investigations including the newly identified kimberlite body have expanded the list of favourable textures/mineralogy to include an ever-increasing number of sitings of chrome diopside, and lavender/purple coloured garnets. These garnets, up to three to four millimetres, occur as both free grains and grains within gragments of ultramafic (therzolites/eclogites). The successful discovery of the second kimberlite body raises the possibility that the third southwestern magnetic lobe is simularly generated by a body of kimberlite. If such is the case then the presence of three bodies of kimberlite, in a relatively restricted area measuring 2,300 feet by 2,300 feet (700 metres by 700 metres) apparently identifies a hot spot for kimberlite generation and emplacement. Native Silver -- Cobalt (Co) -- Nickel (Ni) Cobalt-style native silver-cobalt-nickel mineralization was intersected within the Nipissing diabase intruding the Gowganda sediments west of the northeastern kimberlite. Although representing a subordinate target, the strength of the mineralization encountered ensures the need for further evaluation. Mike