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

To: Dan P who wrote (577)	3/23/2000 5:14:00 PM
From: Marcman	Read Replies (1) \| Respond to of 1321

NEWS FROM IWA Here's today's release. Haven't studied it yet. March 23, 2000 Robert E. Reid, P. Geo., reported to the Board of Directors of International Wayside Gold Mines Ltd. (the ?Company?) the discovery of a new zone of mineralization. The type of mineralization encountered has not previously been identified in the camp. The new zone of mineralization is located in the footwall area of the BC Vein and is open in all directions. Assays with respect to 8 of the 13 diamond drill holes completed thus far on the Y2K drill program are reported below. Drill holes BC 2K-4 and BC 2K-8 have further assays pending. Drill holes BC 2K-9 through BC 2K-13 have significant pyritic zones and have been drilled up to a length of up to 600 feet. The core is being logged and split for assay. Values occur in tannish micaceous mudstone and/or tannish micaceous gritty quartzite carrying disseminated pyrites and/or pyritic drusy quartz bands. Holes BC 2K-3 and BC 2K-4 were the first to encounter the new mineralized zone in the footwall area of the BC Vein 1400 feet south of the BC Shaft (see map enclosure) with 10% to 15% fine grained massive to fine crystallized pyrite and bottomed in mineralization. The extent of the pyritic zone is yet to be established. Drill holes BC 2K-6 and BC 2K-7 did not reach the pyritic zone and were completed prior to the zone being identified in holes BC 2K-3 and BC 2K-4. Drill hole BC 2K-8 penetrated the zone to a depth of 305 feet and also bottomed in mineralization. Drill holes BC 2K-1, 2 and 5 were designed to test the BC Vein on the grid east side of a historically projected fault called the Waoming. The vein was not intersected and no values were encountered in the holes. BC 2K-3 2810N 20165E 4870EL -450 AZ 2230 250 FEET CORE SLUDGE CORE RECOVERY Interval Length/Ft Assay g/t Assay oz/t Interval Length/ft Assay g/t Assay oz/t Interval % 55-65 10 4.85 0.14 55-60 10 85-105 20 2.13 0.06 85-105 68 125-145 20 6.21 0.18 125-145 20 6.18 0.18 125-145 20 210-234.5 24.5 9.41 0.27 205-235 30 6.10 0.18 205-235 67 BC Vein intersected at 98-110.5 feet. BC 2K-4 2810N 20165E 4870EL -660 AZ 2230 200 FEET CORE SLUDGE CORE RECOVERY Interval Length/Ft Assay g/t Assay oz/t Interval Length/ft Assay g/t Assay oz/t Interval % 119.8-125 5.2 4.31 0.13 115-125 10 11.39 0.33 115-125 86 142-170 28 10.12 0.30 145-165 20 18.97 0.55 170-200 Assay pending 165-200 35 2.14 0.06 145-200 90 News Release 00-07 March 23, 2000?. page 2 BC Vein intersected at 119.8 ? 138 feet. Values above the vein are in an altered siltstone (112-119.8 ft). Those in 142-170 section in a micaceous quartzitic? unit with 10-15% fine grained massive to fine crystalline pyrite. BC 2K-6 2805N 19765E 4900EL -450 AZ 2230 125 FEET BC Vein intersected from casing at 27 feet to 80 feet. All values less than 1 gram. BC 2K-7 2805N 19765E 4900EL -720 AZ 2230 95 FEET BC Vein intersected from casing at 12 feet to 85 feet. All values in vein less than 1 gram. Sludge 85-95 feet returned 1.65 g/t in a weakly pyritic siltstone. BC 2K-8 2805N 19965E 4880EL -450 AZ 2230 305 FEET CORE SLUDGE CORE RECOVERY Interval Length/Ft Assay g/t Assay oz/t Interval Length/ft Assay g/t Assay oz/t Interval % 94.5-110 15.5 5.62 0.16 95-245 150 9.82 0.29 95-245 96 Includes 95-125 30 5.68 0.17 135-175 40 2.43 0.07 164.8-175.6 15.6 1.81 0.05 210.2-228.9 18.7 14.36 0.42 228.9-245 Assays pending 205-245 40 31.69 0.92 BC Vein intersected at 63 to 89.4 feet. The drilling program is ongoing to determine the extent of the new mineralized zone. The property is located near Wells, British Columbia, adjacent to Barkerville Historic Town in north-central British Columbia. Previous recorded production from the Company's ground and surrounding area is 3.9 million ounces of gold, of which 1.3 million ounces was lode and 2.6 million ounces was placer. The Company has been exploring the Cariboo Gold Project property since 1995, and had previously identified a measured and probable resource of one million ounces, depending on cut-off and grade (See News Release 99-01). Based on this resource, the Company was already poised to submit an Application to the BC Environmental Assessment Agency to develop a 3,000 tpd open pit and underground operation (See News Release 99-17). Status of the Application will be reported in an upcoming news release. On behalf of the Board of Directors J. Frank Callaghan, President