Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (766)	4/18/2001 7:15:41 PM
From: russwinter	Read Replies (1) \| Respond to of 4051

Today's Northern Miner on Metallica: Anybody ever seen this much $20 continous rock in one place. Just roll up the earthmovers and start digging. Nothing complicated about this mine plan. Jeez Louise, 12 more holes to be announced. 27.1 million shares out @ 55= US 9.5 million mkt cap. They have US 2.5 million cash and Noranda subscribes for US 1 million at 50% above average stock price July-Sept, 2001. Stock has barely stratched the surface (so to speak). Also project information from MR web site. Don't forget they own half of Cerro San Pedro with GLG: metal-res.com Partners cut more wide intervals at El Morro 04/18/2001 The latest holes on the El Morro copper-gold project in Chile have returned some long intervals of continuous mineralization for partners Noranda (NOR-T) and Metallica Resources (MR-T). Hole 12A cut 456 metres of continuous copper mineralization, including a secondary enriched copper interval measuring 46 metres (from 62 metres below surface) and grading 3.28% copper and 0.21 gram gold per tonne. Beneath this interval, the hole encountered 348 metres of primary mineralization grading 0.69% copper and 0.45 gram gold to the bottom of the hole. Hole 12, on the La Fortuna area, was about 200 metres southeast of hole 18 and 200 metres southwest of hole 19. Previously, these holes cut 383 metres grading 0.72% copper and 0.54 gram gold and 476 metres grading 0.61% copper and 0.58 gram gold, respectively. They targeted the Santa Julia claim block at El Morro, which was recently optioned from BHP (BHP-N). Four hundred metres to the northeast of hole 12A, hole 24 of the latest program cut 576 metres of 0.48% copper and 0.78 gram gold. About 950 metres northwest of hole 12A, hole 20 intersected a 30-metre interval grading 0.78% copper and 0.54 grams gold. In all, the hole cut a 415-metre length of mineralized material. Hole 21 was collared some 350 metres northeast of hole 12A. It cut 643 metres of continuous mineralization, including a 62-metre interval grading 1.05% copper and 0.28 gram gold, plus a deeper 24-metre interval grading 0.87% copper and 0.38 gram gold. Assay results are pending for another 12 holes totalling 4,633 metres. Noranda, the operator, can earn a 70% interest in the El Morro project by: subscribing, by September, to a US$1-million private placement in Metallica at 1.5 times the prevailing market price; making a cash payment of US$10 million to Metallica by September 2005; and funding US$10 million in work on the property by September 2005.