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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (2765)	8/16/2002 11:21:05 AM
From: E. Charters	Respond to of 8273

I have figured it out. If anyone comes at you with say 500 thousand tons of .30 ounces per ton and it such and such width etc.. in such and such place.. the perception is.. this is as good as it gets.. that is all they will find... the great dismal cut-off is in place. But if they have a great unkown in a great unknown place.. and someone is excited about it.. the brand new PICKLE CROW camp on FALTON LAKE.. well, it could be as big as the sky. Now 35 years ago, they would never have called the Pickle Crow camp brand new. It seemed datad 20 years ago. I never gave it a chance. When I was at McVicar Lake in 1979 I was not that impressed. Sure someone had found gold there but I did not see where there could be any gold mine. It did not jump out at me. Still there were showings. I never went back. But 11 years later or more, Bond Gold found a nice narrow continuous vein that assayed up to 0.50 ounces and that became a mine. Same structure, just a few miles away. When I flew out of there, I flew over 15 drills of companies, all parked on the same structures on crazy X shaped lakes. All drilling like mad. Far as I knew, nobody hit. Now Prospectors Internmational is up there with a property with tonnage that BHP drilled off a few years back on the same lake I left 23 years ago. There is a tendency to get bored with outcrop. To believe all the mines have been found. That the misses cut everything off. All the structures are mined out. I used to dig with a backhoe on veins in Vincent Towhship. We would dig up a vein here and then look at it. We might find bit of gold. It did not seem very strong. The rock was tight all around. Then we would build a road over a ways. Suddenly out of nowhere there was another vein! Then another. The whole damn thing connected in a big fold for 300 feet wide. (As a matter of fact we came to the conclusion that the folding was perhaps 2800 feet wide and all interconnected as you went south...) But if you did not dig, you would never guess it. It always ended at the last vein in your mind. We got a company in. He drilled a hole. At the end of the hole was a vein with visible gold in it. He stopped the hole at the vein with gold without drilling any further through it. For 500 feet there were quartz veins, about 50 of them, up to 6 feet wide. He admitted he had never seen so many quartz veins in his life. He assayed 5 of them and left the rest. We asked why he did not assay the others. "Well", he explained, "they do not have crack-seal texture." We looked carefully at the veins and asked him to explain what crack seal texture was. (I knew they had all filled deformation zones and in effect were crack-seal). He could not put it into words. But he knew, he said. Just like we knew the vein had cut off at the last pit. The he drilled another hole south and missed the vein he was aiming at. And there the property sits to this day. It reminds me of a showing I drilled with a company adjacent to a mine I had worked at north of Nakina. When I worked there as an assayer, an exploration company, Lacanna, were drilling to the west, and finding boring little veins of perhaps 2 to 3 feet wide, and perhaps .20 ounce per ton. So the reports went. Lacanna was drilling for a ten percent interest. Perhaps the reports were only as good as the interst would allow them to be. But they kept finding them for about 1.5 miles. An interesting kind of boring sub-economic veining. It could be that was exactly what it was, but the amount of it was extremely interesting. You find this from time to time in certain areas, persistent auriferous and weak veins for literally miles. It seems if a gold vein is to be economic in grade, it will not exceed 2000 feet in length. The longest continuously assaying gold vein found in the world was the Croinor Pershing in Quebec, which I assayed underground once, It was one mile in length. Curiously despite persistent found economic values this property has never been developed except for a small open cut and some exploratory workings. Now when I drilled the same vein system of the Nakina property to the east instead of west of the mine, (after the mine had closed), I found a triple set of veins in structure 150 feet wide, and those veins frequently had visible gold in them. Lacanna had discounted the vein structure going in that direction as theys opined that the gabbro intrusive on strike would cut it off. But I found the vein persisted for one quarter mile, had sulphides in it, like the mine had, gold too, and it folded itself around the late intrusive. Now this was interesting. It meant that the vein system continued strongly along side the porphyry and no doubt out to end of the point for 3 miles. In addition, the same type of veining was found on the other side of the peninsula in parallel so was the other or south limb of the fold. And pits showed that vein in the south had a strength of 0.21 ounces over 7 feet where it had been assayed. I never drilled it, but the evidence of the folded, strongly continuous porphyry-associated mine unit argued for a folded continuance of the mine unit for a total of 6 miles in length. The surface mapping of the folds also supported this. I had never seen such a continuous persistent structure before. 6 miles is not small. It is huge. The mine structure itself had had 2 drill holes at a certain depth that had not come back with values. On the basis of this, and the opinion of the Lacanna geologist that the structure was "mesothermal" and would not persist to depth, the project at that time was not continued. I had drilled beneath the mine too, and because of deviation of the drill, I had hit at the same depth where the two previous cut-off holes had hit. So I could not extrapolate the structure below the mine with any confidence. But my first holes east of the mine were 800 feet below the deepest workings of the now shut mine. There I saw visible gold in the holes and strong sulphides to give confidence in the nature of the veining. But I was not allowed to see a single assay from the program. In fact, upon calling the assayer he informed me that not one assay had been paid for by the company I worked for, and he would not tell me if he had released any of the results. All I have to go on is guess work and visible structure and the odd fleck of gold. I believe there is a large mine there. But it would take millions to prove or disprove it. And no human so far will support me on it. One cannot take money from one's piggy bank and start mines. One has to generate belief amonst the investment community. The currency of the community if to disbelieve the geological story and to go with the excitement that story tellers of the street will generate from stock plays. Of course the idea is that action comes from something of substance and its immediacy has promise. One can hardly blame the paper holder for his enthusiasm for selling or buying the thing of the moment. We have all played that game. But belief in development is a much much harder story to sell. And an even harder story to sell is the engineering story of profit being found from processes that others have failed at. If was drilled or processed before, then how are your ideas better? Who has signed off on that whom we can trust? EC<:-}