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Gold/Mining/Energy : The River Valley Intrusion -- Ignore unavailable to you. Want to Upgrade?

To: Brumell who wrote (3)	1/15/2001 11:02:35 AM
From: Condor	Read Replies (1) \| Respond to of 36

I was wondering about International Freegolds participation in RV. It appears they have ground right between/ beside Pfn's Rv, and then on down right to Jane's. I managed to find the following on their site. augoldgroup.com ....as follows.... International Freegold Mineral Development Corp. V.ITF & T.ITF SUDBURY MINING DISTRICT To date the Company has acquired approximately 31,055 acres (12,568 hectares) - (789 claim units). The properties cover both mafic intrusive rocks of the River Valley Intrusion and the Nipissing Diabase, which are both geologically favourable environments for hosting potential PGM-Cu-Ni deposits in the Sudbury Mining District. The Sudbury area has recently become the focus of an exploration and staking boom, as a result of recent PGM discoveries by other exploration programs in the area. Most recently, Pacific North West Capital Corp. (PFN) (www.pfncapital.com) intersected significant platinum group metal values in 13 of 13 holes drilled in the Dana Lake Area, River Valley property. Historically, the Sudbury Mining District has produced in excess of 20 million ounces of PGMs as a by-product of nickel-copper production. Sudbury is home to Inco and Falconbridge, the largest nickel producers in the world. Currently, both the Inco and Falconbridge smelters have excess processing capacity. Freegold's properties are located within 20 - 80 km of Sudbury and are all road accessible. Consideration for acquiring the properties is as follows. Cash payments totalling $171,800. Property payments of $235,000 over four years, and issuance of up to 1,030,000 shares over four years. A further 300,000 shares will be issued upon completion of a bankable feasibility study. The properties are subject to a 3% percent net smelter royalty (NSR) with a buy back provision for up to 2%. A finders fee will be paid. All of the aforementioned are subject to regulatory approval. Freegold has initiated its first exploration program and has slated approximately $1 million dollars for exploration in the year 2000. A detailed report with specific recommendations for each project is currently being compiled. Exploration programs will include geological mapping, prospecting, sampling, trenching, geophysics, and drilling. ITF has retained Peter Dimmell as senior project manager. Mr.Dimmell is a professional geoscientist (P.Geo.) with 30 years of experience in the mining / mineral exploration industry. Mr. Dimmell has managed exploration projects ranging from grassroots to advanced exploration / delineation through to production. Freegold has established a road accessible base camp, which is centrally located to Freegold's field projects and has power, water and telephone services. Freegold has retained Mr. Orville Caddy, of Goose Bay Labrador to co-ordinate the camp. Mr. Caddy has over twenty-five years of experience in camp management/expediting experience.

To: Brumell who wrote (3)	1/16/2001 6:47:56 AM
From: Condor	Respond to of 36

One of PFN's partners in the Agnew lake claims New Millenium V.PGM released news this morning. It re-inforces my opinion that a person would be well advised to "cover the spectrum" of players. ------------------------------------ New Millennium lively with detection of three anomalies New Millennium Metals Corporation PGM Shares issued 5,350,240 Jan 15 close $0.64 Tue 16 Jan 2001 News Release Mr. Frank Hallam reports New Millennium Metals Corporation has reported that three discrete I.P. anomalies have been detected within an intrusion which is a part of the Lac Des Iles Ring Structure. Approximately one-half of a planned 65-kilometre I.P. survey of the company's Lac Des Iles River property has now been completed and analyzed. New Millennium has an option to earn a 60-per-cent interest in the Lac Des Iles River property from Maple Minerals and East West Resources. The Lac Des Iles River property is located approximately 13 kilometres southeast of the Lac Des Iles mine (North American Palladium Limited -- 117 mt @ 1.82 gm/t Pt+Pd). Both the Lac Des Iles mine and the aforementioned intrusion are located on the eastern portion of the Lac Des Iles Ring Structure, a roughly circular assemblage of magmatic intrusions measuring approximately 30 kilometres in diameter. New Millennium owns extensive mineral rights (51,515 acres), covering more than one-half of the Lac Des Iles Ring Structure. Discussion of results A 700-metre by 250-metre chargeability anomaly was detected beneath an overburden cover. The anomaly flanks the Powder Hill showing where previous sampling by the company from limited outcrop returned grades of up to 1.81 gm/t palladium, 0.33 gm/t platinum, 0.3 per cent copper and 0.65 gm/t Au (2.8 gm/t combined Pt+Pd+Au). The anomaly occurs along the margin of a prominent magnetic high and displays a magnetic and resistivity profile consistent with that obtained over the Powder Hill showing. To the west of Powder Hill, a second zone of anomalously high chargeability was detected beneath an area completely covered by overburden. This I.P. anomaly is locally associated with a prominent magnetic low/high contact. The anomaly extends for over 500 metres, and is open to the west, outside the area surveyed to date. The third chargeability anomaly identified occurs in proximity to a series of pyroxene gabbro and pryoxenite outcrops. This anomaly extends for over 1000 metres, and reaches widths of up to 300 metres. Preliminary prospecting in this area identified a number of low level Pd-Pt anomalies located outside the main anomalous trend. Interpretation of results The discovery of three discrete I.P. anomalies within the target zone, two of which are associated with known platinum and palladium mineralization, is extremely encouraging. The anomalies are within a geological setting that is known to host one of only two primary producing PGM mines in North America. They are also of a size and nature similar to that of the Roby Zone at the Lac Des Iles mine. Action plan New Millennium's technical staff is currently reviewing this promising new data before making a decision on how to proceed. In light of the encouraging I.P. results to date, the company is considering the early initiation of a drilling program, prior to the completion of further I.P. and magnetic surveying. A decision in this regard will be taken by company management within the next few days. Additional I.P. and magnetic surveying is already planned and will be conducted, when weather permits, to extend the Powder Hill Grid and in the vicinity of a discovery (the Stocker Zone) where numerous chalcopyrite mineralized boulders have returned grades of up to 2.2 gm/t Pt+Pd+Au. Examination of the boulders by experts has determined that they are locally derived. There is no outcrop in the immediate vicinity of the boulders. The Stocker Zone is located four kilometres northeast of the Powder Hill Zone and is within the same intrusion. Other news -- Agnew Lake update The company confirms that New Millennium and partner Pacific Northwest Capital are in an advanced stage of negotiation with a major mining company with respect to the Agnew Lake property. Substantial agreement on key terms has been reached. A formal agreement is being drafted. A deal will be completed only upon the execution of a formal agreement. The Agnew Lake property is located about 65 kilometres west of Sudbury, Ont., and overlies a large mafic/ultramafic layered intrusion known to host several promising zones of PGM mineralization. Samples taken from the marginal series of the intrusion have returned values of up to 8.5 gm/t Pt+Pd. The company will provide further updates on all of its projects as results become available. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com