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Gold/Mining/Energy : X-CAL RESOURCES (TSE:XCL) -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (97)	12/14/2000 8:04:38 AM
From: Frankly Speaking	Read Replies (1) \| Respond to of 225

Marcos: What's your take on this release? 12/11/00 - Sleeper Model Documents Gold System X-CAL RESOURCES LTD ("XCL-T") - Sleeper Model Documents Gold System The Sleeper Gold Project, 3D modeling, data compilation and target definition work utilized the facilities of both X-Cal and Placer Dome. The work has documented a largely unexplored massive mineral system with deep crustal origin within the Sleeper Gold Property. The 30 square mile property is located in Humboldt County, Nevada. The Sleeper Gold Mine, located in the centre of the property, produced some of the highest grade gold ores known to occur in Nevada. Gold content of the Sleeper Vein frequently averaged more than 20 (twenty) ounces per ton and at times exceeded 170 (one hundred seventy) ounces per ton during mining (1986-1996). The compilation team consisted of: Mr. Keith Blair, MSc, one of the top people worldwide for modeling geological data using the Vulcan system. Mr. John Wood, the discoverer of the Sleeper Gold Mine. Mr. Winthrop Rowe, MSc., a visionary geologist with more than 5 million discovery ounces credited to exploration teams under his management and Mr. Lawrence Martin, a senior structural geologist as well as Sierra Mining & Engineering of Reno, Nevada. Valuable 3D geophysics, geologic input and project review were provided by Placer Dome. The team describes Sleeper as a large gold/silver deposit that is both disseminated and vein hosted. The work states that in 1997 Placer Dome estimated a geologically unconstrained resource at Sleeper containing 11.9 million ounces of gold to the limits of the database using a 0.0 opt Au cut-off, or 7.6 million ounces using 0.015 opt Au cut-off. Approximately 2 million ounces of this have been recovered by mining to date. The management of X-Cal Resources Ltd. describes the unconstrained figures as a "measurable anomaly" that should not be considered as mineable. The figures indicate: the size and intensity of mineral event(s) that occurred at Sleeper. The unconstrained number is a foot print of only a part of a very large mineral system. The balance of the system is beyond the limits of our drill data. High grade structures within the system have been targeted. The model incorporated data from more than 4,000 drill holes (geology logs and assays) and integrates high quality geophysical surveys and structural analysis. The core of the model examines an 8 square mile area that centres on the Sleeper mine site. It is very important to note: the favorable environment extends beyond the limits of drilling and the present model. Areas of no data exist in direct line with the projections of ore shoots. The work concludes that multiple boiling horizons and high grade intercepts in deeper drilling indicate the gold system continues to depth. The Sleeper geologic model suggests that a "mega gold deposit may occur at depth". The model documents high grade intercepts below the Sleeper rhyolitic host rocks. To date the Sleeper rhyolite has been favored for gold. The study concluded: virtually all lithologic units on the property can host gold mineralization. The model shows that a significant portion of the gold is concentrated in mafic to intermediate volcanics. This means that Sleeper is hosted in a bimodal volcanic sequence. In the major gold trends of the world, this environment is known to concentrate world class gold deposits, often with bonanza grades. In the Nevada bimodal volcanic sequences are proving to be very important for modern exploration programs. This type of a dynamic genetic environment causes multiple rock types to host major deposits of bonanza gold grades. The sedimentary rock package on the property is also prospective. The work merged all project data into a form that is now readable using the Vulcan System, Data Mine, or other geologic management systems. Data sets have been provided to Placer Dome. X-Cal Resources Ltd. is also providing complete data sets to other potential developers who have entered into Area of Interest Agreements with X-Cal. TEL: (604) 662-8245 X-Cal Resources Ltd. FAX: (604) 688-7740 Shawn Kennedy, President INET : www.x-cal.com Email: invrel@x-cal.com ______________________________________ ___________________________________________________________________ (c) Market News Publishing Inc. Tel:(604) 689-1101 All rights reserved. Fax:(604) 689-1106 MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.