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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: GeoDude who wrote (235)	6/20/2002 3:32:34 PM
From: 4figureau	Respond to of 5423

LIA thank you for your excellent.. and as always.. cautious analysis. As you know...many a good property has been ruined by drilling (g). It is my belief that there are many good targets left to drill. I am concerned that the accountant mentality (probably saved them over the rough times) of management would better be served with a more aggressive approach at this stage. 750,000.00 for the season is not that much to work with. I am more interested in what they are about to drill...especially if they can hit some of those similar high grade zones like in the Kemess North. >>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<<. You wrote: >>NGX has $200MM worth of plant and equipment paid for (debt removed very recently).<< Soon as the company starts to talk pre-feasibility..I am selling! (G) >>I don't think NGX will have spare capacity for a while i.e. they don't need SML's ore and SML would have to build a $200MM+ facility to monetize their reserves.<< FWIW..From Stealth's web site: >>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.<< >>Caveat: if Au or Cu prices go up and up, the above is less important and the stock will skyrocket ...<< If you want my opinion on that..just check out my name :) Thanks again LIA!