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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (28)	9/22/2000 8:30:40 PM
From: Jon Matz	Read Replies (1) \| Respond to of 86

Claude, regarding shares outstanding, this is from their website and I don't know if it's still at this level. Shares Issued 40,181,818 (at December 31, 1998) TSE Share Float: 7,300,000 shares

To: Claude Cormier who wrote (28)	3/7/2001 10:55:27 PM
From: charred	Respond to of 86

Claude, 135 meters of 2.21% Cu and 5.11 g/t Au. Here is the lastest news. Philex Gold Inc PGI Shares issued 40,181,818 2001-03-05 close $0.68 Tuesday Mar 6 2001 News Release Ms. Paula Kember reports Following the release of the results from three diamond drill holes (TSD-7, 8 and 9) on Nov. 7, 2000, four additional drill holes (TSD-10, 11, 12 and 14) have been completed by Anglo American Exploration (Philippines) Inc., under a joint venture covering the Surigao properties. Another two diamond drill holes (TSD-13 and 15) are being drilled. All quoted depths are measured in metres downhole, and all assay results have had a cutoff of 0.1 per cent copper and 0.1 of a gram per tonne gold applied. TSD-10 was collared approximately 250 metres east of TSD-6 and was drilled at -60 degrees to the west. The hole intersected unmineralized cover from surface to 106 metres. Potassic altered diorite breccia locally overprinted by intermediate argillic alteration was encountered from 106 metres to 434 metres. Cuprite occurring as fracture fillings and disseminations with malachite and azurite increases with depth. Potassic altered diorite porphyry was encountered from 434 metres to 504 metres with cuprite, malachite and native copper associated with quartz veins crosscutting magnetite-biotite veinlets. The weighted average values of a 345-metre intercept from 159 metres to 504 metres are 0.5 per cent copper and 0.7 g/t gold including a 110-metre intercept from 195 metres to 305 metres with a weighted average of 0.61 per cent copper and 1.09 g/t gold. TSD-11 was collared at the TSD-8 site and drilled to the east at -60-degree inclination. The hole intersected unaltered cover from surface to 280 metres. Altered and mineralized diorite intrusion breccia was intersected from 280 metres to hole end at 602 metres and consists of mottled and fine-grained diorite intruded by a microdiorite breccia matrix. The diorite phases are potassic altered with an intermediate argillic overprint. Quartz veining, accompanied by disseminated azurite, malachite, cuprite and limonite increase with depth. The weighted average values of a 316-metre intercept from 286 metres to 602 metres are 0.41 per cent copper and 0.5 g/t gold. TSD-12 was collared approximately 250 metres south of TSD-8 and inclined at -60 paragraph to the north. The hole intersected unaltered cover from collar to 292 metres. Diorite porphyry and breccia phases were intersected from 292 metres to 389 metres. The dioritic intrusives are moderately to strongly altered to clay-chlorite with minor secondary biotite and magnetite. Disseminated cuprite, limonite, azurite and rare native copper increase with depth. Copper oxides bottom at 339 metres and minor chalcopyrite, bornite and pyrite occur as fracture fillings and weak disseminations to hole end at 389-metre depth. The hole was abandoned due to technical problems. The weighted average values of a 97-metre intercept from 292 metres to 389 metres are 0.28 per cent copper and 0.68 g/t gold. TSD-13 was collared approximately 120 metres north of TSD-6 and inclined at -85 degrees to the east, and is designed to terminate at a depth of 1,000 metres. The hole intersected unaltered cover from collar to 85 metres. Mineralized diorite porphyry and breccia was intersected from 85 metres to the current depth of 550 metres. The intrusives are intensely potassic altered with an intermediate argillic overprint. The intensity of mineralization is increasing with depth and consists of quartz-limonite veinlets, azurite, malachite, cuprite and minor chrysocolla. Partial assay results are available for TSD-13. The weighted average values of a 77-metre intercept from 85 metres to 162 metres are 1.09 per cent copper and 0.73 g/t gold. TSD-14 was collared approximately 150 metres north of TSD-10 and inclined at -60 degrees toward the north. The hole encountered unaltered cover from surface to 53 metres. Strongly mineralized diorite breccia was intersected from 53 metres to 147 metres. The diorite is intensely potassic altered and silicified with a local intermediate argillic overprint. Dense quartz vein stockwork development is associated with malachite, azurite, minor cuprite, chrysocolla, chalcocite and rare, unoxidized sulphide mineralization. Enargite-bornite veinlets, which cut the quartz stockworks from 85 metres to 94 metres provide evidence for a preserved high-sulphidation overprint. From 147 metres to 365 metres, the hole intersected polymict, potassic altered diorite breccia with a variable chlorite overprint, which crosscuts the stockworked diorite breccia. The intensity of copper mineralization decreases with depth. The hole intersected silica-chlorite-magnetite altered plagioclase-hornblende diorite from 365 metres to hole end at 440 metres. The oxide zone ended at 258 metres. The hypogene sulphide mineralization comprises chalcopyrite and bornite as fracture fillings and disseminations within quartz veinlets. At depth the magnetite and pyrite contents increase significantly. Partial assay results are available for TSD-14. The weighted average values of a 205-metre intercept from 53 metres to 258 metres are 1.67 per cent copper and 3.46 g/t gold including a 135-metre intercept from 53 metres to 188 metres with a weighted average of 2.21 per cent copper and 5.11 g/t gold. TSD-15 was collared at the TSD-14 site and drilled to the south at -75-degree inclination. The hole intersected unaltered cover from surface to a depth of 61 metres. Strongly mineralized diorite breccia was intersected from 61 metres to the current depth of 80 metres. The diorite is intensely potassic altered and silicified with a local intermediate argillic overprint. Dense quartz vein stockwork development is associated with malachite, azurite, minor cuprite and chrysocolla mineralization. The hole is designed to terminate at a depth of 500 metres. All assays were conducted on average three-metre intervals of split core by Intertek Testing Services at the company's laboratory in Jakarta, under the supervision of Anglo American. Quality control was monitored by incorporation of assay standards and duplicates. Two diamond drills continue to be used on the property, with a third rig to be added in the second quarter. It is expected that Anglo American's minimum expenditure commitment of $2.2-million will be met this year, at which time its 40-per-cent equity in the Surigao properties will vest. Philex Gold continues to be encouraged by the drilling results to date, which show a copper-gold porphyry deposit containing some high-grade zones, as indicated in the drill holes detailed above and in previous press releases. The deposit remains open to the north and northeast of the discovery hole TSD-6, as well as at depth. TSD-13, currently in progress with a Longyear 44 rig capable of drilling to a depth of 1,000 metres, is designed to test the potential at depth. These assay data provided above were communicated to the company by Anglo American Exploration (Philippines) Inc. which, under the terms of the joint venture, is responsible for conducting exploration on the Surigao properties. Philex Gold has not independently verified this information. (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com