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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Jackson who wrote (35053)	9/26/2000 4:24:21 PM
From: ddl	Read Replies (2) \| Respond to of 35569

Hey Bill, you still pumpin this old dog? ;-) And all these hypsters were calling you a scam, back then!!! hehehehehe Courtesy of Thompson newspapers.... • Tuesday, 26 September, 2000 Company aiming to reactivate gold mine Timmins might be getting a huge present this Christmas a gold mine in production with grades that havent been seen since the early days of the McIntyre, Hollinger and Pamour. The mine, owned by Davidson Tisdale Ltd., was poised to begin operation in partnership with Getty Resources in 1987, before its parent company, Getty Oil, was bought by Texaco Oil, which had no interest in gold mining. It has sat dormant for lack of financing. Getty had spent $20 million on exploration, a feasibility study, an access road, a 650 foot shaft and a ramp joining it at the same level. Once the grades are proved (again), well go into production at 750 tons per day, said company president Robert Norcott, Monday. The operation would be similar in size to the St Andrew mine, which employs a few hundred people. Current resources are estimated to be 200,000 to 360,000 ounces of gold at grades of 0.18 to 0.48 ounces per ton, said a 15 page executive summary by IBK Capital Corp., which has been retained by Davidson Tisdale to assist them in raising capital. A $3 million budget is proposed to bring the mine back into production and includes a 50,000 ton bulk sample. Its a narrow vein, high-grade ore body, Norcott said. Gettys exploration revealed some treasure box areas with grades of 4,000 grams of gold per ton, with other pockets at 1,100 grams per ton. The ore body is close enough to the surface to be mined by open pit, the cheapest method, for the first 800-900 feet. In the pit alone there are close to 750,000 tons to be mined at 12 grams per ton, said Norcott. The average grade goes up to 16.5 grams per ton if a smaller 512,500 ton section of the body is considered on its own. The highest average grade currently mined in the Porcupine is 11-12 grams of gold per ton at the Hoyle Pond mine. In terms of longevity, the Davidson Tisdale property could have a potential similar to that of Kinross Hoyle Pond mine, said the IBK summary. Reserves at Hoyle Pond have continued to increase as high grade shoots were explored at depth. Once the final permits are obtained, Davidson Tisdale has an arrangement in place to employ Dumas Mining Contracting Ltd. of Timmins, to dewater the shaft and ramp, flooded in its long abandonment, clear the ramp, remove the shaft portal bulkhead and set up ventilation. The process is expected to take six weeks, during which Davidson Tisdale will access and resample the high-grade areas outlined by previous channel sampling, said the IBK summary. This will be followed by a program of underground drilling program to determine the geometry and extent of these high grade off-shoots. Any initial mining will be directed at high grade underground shoots, with subsequent evaluation of near surface, open pit potential. All the permits are in place for dewatering, with the exception of one, said Norcott. The Ministry of Northern Development and Mines changed one regulation on June 30, which reclassified our operation from exploration to advanced exploration, due to its underground component. Theyre working with us and were very happy with the help theyre supplying. Final approval shouldnt take long now. The initial dewatering and drilling phase will employ between 15 and 20 people.