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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (85415)	5/16/2002 12:44:52 AM
From: E. Charters	Read Replies (2) \| Respond to of 116796

Argentina has not been well explored in the region south of the Black River or near the coast. There is potential for gold in this area. Near the Chilean border in desert mountains were found the deposits of Argentina Gold which got bought out by Barrick. These deposits are often rich in silver, and are large and low grade. It takes good money to drill them. There may be many more such deposits there. On the other coast, in the north of Chile there are sandstone hosted gold deposits of the type found by Gittennes Resources in Peru. These deposits of a newly recognized type described by Montoya, are hosted by a formation that contains the Peirina and others and may run all the way into Bolivia. South America formerly was not known for gold in modern times, although it was the focus of gold exploration by the early Spaniards, who ran many underground manto operations in the continent. Their exploration techniques and judgement may have been superior to the present day ones, as they mined profitably in many remote areas. Much is made of the fact that the Spaniards used cheap labour, but that was more than offset by the fact that they had to feed, train, police and maintain the labour force, and operate in extremely hostile and remote areas. There was significant capital cost engendered in getting equipment and materials to the areas. Near about every modern day discovery we find colonial adits that indicate some kind of time was spent mining gold there long ago. Exploration was by geological indications of ore fluids and alteration, and by panning the valley streams back to sources. Much could be told about the lode potential. The adits were driven often to blind deposits at indication seepages at contact of intrusives with country limestone, shale or sandstones. It would be a mistake to think that the miner of those times always drove drifts on surface ore indications. More often than not that was not the case. It was a bet based on what were called leads. That and gold found in pans from detritus, which could be very low grade. The bet was that it got better at depth or further in. After a time of doing this you could equate the presence of gold in pans and its amount and the surface expression of shears, with excrescence of buried association minerals with the probability of economic grade below. And so it goes today, with lesser expertise often. Today we depend on deep drills to access deposits with uncertain statistical chance and high relative cost. At a certain point where it gets very expensive to drill in soft rock, you either go to a very large low speed drill, or go underground like the Spanish did. EC<:-}

To: goldsheet who wrote (85415)	5/16/2002 7:03:35 AM
From: long-gone	Read Replies (3) \| Respond to of 116796

don't you think GATA should be all over this? Foreign Exchange Dealers Defend Industry Wednesday May 15, 8:07 PM EDT By Daniel Bases and Javier David NEW YORK (Reuters) - Foreign exchange dealers defended their industry on Wednesday amid renewed focus on a probe by U.S. and European anti-trust officials that online foreign exchange trading system FXall possibly discouraged competition. Besides FXall denying any wrongdoing, market players stress that the currency-trading industry's self-regulating mechanisms are perfectly adequate to address problems and that more government regulation is not the answer. "You can regulate as much as you want but there will always be crooks. Will regulation change anything? No; you will just find smarter crooks," said one foreign exchange dealer said. The appetite for new regulations may be low in Washington, but the revelation that FXall is under scrutiny for possibly shutting out a rival online trading operation and possibly discouraging the 17 banks that back it from taking part in rival online ventures comes at a rather bad time. (cont) money.excite.com