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Gold/Mining/Energy : CUMBERLAND RESOURCES (CBD) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (192)	10/31/2000 9:52:01 AM
From: russwinter	Respond to of 393

Claude, I went over the season's drilling at "the Vault" and did a summary of the 26 holes. It sure looks like they have an economic resource here that will help average down their Meadowlark capex costs. I can't locate a map of the site to plot exact locations, but the holes look nicely dispersed throughout the 850X300 m target. The hit 33 intervals averaging about 8 meters. The average vertical depth was only 43 meters from surface and it looks pretty flat lying. The grade averaged 3.8 g, and again was pretty continuous and consistent. There were only 5 intervals under 2 grams and they were very shallow as generally were the skinny intervals. They hit something on every hole (really only one clear reject, #9). I don't have a computer program to generate an exact evaluation of the Vault. Of course the difference between 150 and 200 cost is critical with gold being given away at 265. But when you eyeball this one it looks closer to the former than the latter. What are the analysts saying?