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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (4288)	6/12/2002 10:50:25 AM
From: 4figureau	Respond to of 39344

SML: Russ and Elizabeth...it is my belief that the reason why SML is trading so low could be because Electrum (private Company that owns 13.2% of SML) who have given an option to earn 100% interest in the Pine property to Stealth are trying to acquire more cheap shares in the latest PP. Read the bottom 2 NR's..a few facts first: Stealth Minerals Limited (SML-TSX) Rolling 52 Week High 0.160 Rolling 52 Week Low 0.050 Market Capitalization CDN $5.1 Mil # of Shares Outstanding 32.1 Mil. shares May Volume:108,665 shares at 0.08 average June Volume: 250,000 shares at 0.13 average Web Site: stealthminerals.com Management: stealthminerals.com PINE PROJECT SYNOPSIS stealthminerals.com Highlights: >>Stealth Minerals Limited has an option to earn 100% in approximately 220 sq. km of mineral claims from Electrum Resources Corp., a private company. The Pine property is located adjacent Northgate Exploration Ltd.'s Kemess gold-copper mine in the Toodoggone District of north-central British Columbia. The Shasta, Baker and Lawyers gold-silver mines are located northwest of the Pine property. Targets on the Pine property include bulk tonnage porphyry gold-copper deposits similar to Kemess, and copper-gold skarn, and gold-silver epithermal deposits. Gold-Copper Porphyry Deposits The Pine gold-copper porphyry deposit has received most of the drilling to date, having identified a potential for 200 million tonnes grading between 0.12 -0.30%copper and 0.25 - 0.70 g/t gold, and remains open. The nature of the deposit and its size and grade appear similar to that encountered at Kemess North, prior to Northgate Explorations' recent discovery of much higher grade, and subsequent commitment to fast-track it's development with a proposed conveyor to their mill. The Kemess North deposit is within 5 kilometres of the Pine property. ~~~~~~~~ Within this area, narrow poly-metallic veins in proximity to trachy-andesite dikes have returned up to 1.3 metres of 0.34% copper, 215.9g/t gold, and 3 metres of 36.17g/t gold. ~~~~~ Conclusions Stealth Minerals Limited has focused on its core property, the Pine, since 1997, and successfully improved the bulk-tonnage gold-copper resource potential of the Pine deposit. Prior to 2000, the Kemess North deposit was of similar size and grade as the currently estimated potential in the Pine deposit. Recently published drill results from Northgate Exploration Ltd. Kemess North deposit suggest similar high-grade zones may occur in or around the Pine deposit, and are valuable targets. In addition, the company has identified high quality copper-gold skarn and epithermal gold-silver targets. Limited-depth drilling on the VIP copper-gold skarns, and greater understanding of regional controls for the Goat-Wrich and Electrum epithermal prospects improve potential in these areas. The Wrich epithermal system may be in part associated with a regional thrust fault contact, 6-7 kilometres in length. Unlike descriptions of historically mined epithermal deposits of the district, the association between gold-silver mineralization and the regional thrust fault could allow for much larger gold-silver deposits to occur. ~~~~~~ Stealth's goal is to develop mineable resources totaling 4-10 million ounces of gold or equivalent, and is well situated to benefit from existing services to Northgate Exploration Ltd.'s Kemess Mine and mill.<< Recent News: Stealth Minerals Ltd - News Release Stealth arranges $400,000 financing Stealth Minerals Ltd SML Shares issued 28,299,560 May 31 2002 close $.090 Friday May 31 2002 News Release Mr. Bradley Jones reports Stealth Minerals has arranged a private placement for total proceeds of $400,000. The private placement will consist of four million units of the corporation at price of 10 cents per unit. Each unit will consist of one common share and one warrant. Each five warrants can be exercised to purchase an additional common share at a price of 10 cents per share for a period of one year. The proceeds of the private placement will be used to finance the 2002 exploration program and for general working capital. ~~~~~~~ Stealth Minerals Ltd - News Release Stealth investor Electrum boosts shareholding Stealth Minerals Ltd SML Shares issued 26,249,560 May 13 2002 close $.120 Tuesday May 21 2002 News Release Mr. Bradley Jones of Stealth reports Pursuant to Section 111 of the Securities Act of British Columbia, Stealth Minerals discloses that Electrum Resource Corp. has acquired 2.5 million common shares of the corporation pursuant to an amending agreement dated March 20, 2002, to a joint venture agreement dated Oct. 7, 1996. Electrum Resource has acquired these securities for investment purposes. Electrum Resource beneficially owns 4.2 million common shares of the corporation representing 13.0 per cent of the issued and outstanding shares.