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

To: DeplorableIrredeemableRedneck who wrote (91131)	11/13/2002 4:01:10 AM
From: E. Charters	Read Replies (1) \| Respond to of 116915

You economically value Wildcat by engineering acumen. You work 25 years in the Industry and learn gold exploration. You work in mines and mills. You assay in gold mines. You run underground and surface exploration jobs. You go to University and study exploration and structural geology. You live in a tent for 10 years in 5 successive gold camps from Quebec to BC and prospect and study the rocks. You get a deep feeling for it. You ask the prospector to stake the claims he proposes to you and he writes a 50 page research report. You look at the 3 former mines in the area and you talk to the miners who worked in them as well as the former manager of one. You commission a geologist to do a report on the property who use to work for Monopros and MPH and is respected. He has his MsC in Geological Engineering and is incorruptible. He recommends work. You study the drill holes on the property and the former mining based on other studies and drilling programs you have done in former gold mines in Quebec, Manitoba and ONtario. The Many nearby mines within 3 miles and the rich gold on surface and payback aspects of the former operation, and the depth potential of two area mines leads you to conclude the extension of the ore at 3 bodies is correct. The only thing that can prove you correct is 60 diamonds drill holes and some trial mining. In the meantime the stock should do well. EC<:-}

To: DeplorableIrredeemableRedneck who wrote (91131)	11/13/2002 5:15:23 AM
From: E. Charters	Respond to of 116915

Sorry I could not resist. Valuation is done by: 1. Strike proximity of former mine that produced to 1000 feet depth and finished in ore with no drilling below.. 2. Former mining operation on one deposit to 125 feet. 3. Drilling on one deposit of 15 holes. 4. Records of another deposit nearby (one mile) that mined surface ore open pit and finished in ore. They stated that they did not want to go underground. 5. Channel sampling of vein for 200 feet on another. (a rule is that veins are at least as deep as they are long.) Based on mining history and grade of 3 area mines we now hold on the property, it appears that mining can proceed at the former grades or better as depth potential of the area and drilling on one of these 3, and 2 others not of the first three mentioned, indicate high likelihoods. In order to absolutely prove the contention and also in order to delineate the vein so that mining up on it knows what to expect, it is necessary to drill again in all cases and to survey the holes -- In other words we need to contemporarily map the veins. I estimate the ore by extending each deposit to a reasonable depth formerly attained in all the drilled deposits and mines in the area, and extending the known strike and known grade to that depth. It is an estimate that in most cases is engineering safe. God did not say so, but I did. 1.Deposit 1. 18 inch width 200 foot length, estimated 500 foot depth. 2 ounce grade with 20 channels. From surface exposure. 500 X 1.5 X 200 = 150,000 cubic feet. Divide by 12 and that is 12,500 tons or 25,000 ounces. 2. Deposit 2. Previous mined 1500 tons of one ounce per ton. 200 feet long. 6 feet wide. 200 X 6 X 500 = 600,000 cubic feet or 50,000 tons of one ounce = 50,000 ounces. 3. Deposit 3. Previous mined 125 feet by 40 by 3 or 15,000 cubic feet paid out 2.5 million dollars or 2,000 dollars per ton or 4 ounce per ton. 15 dill holes indicate 6 ounces per ton. 40 feet X 3 X 600 = 72,000 cubic feet, or 6,000 tons of 6 ounces. = 36,000 ounces. That is 50 + 36 + 25 = 111,000 ounces in 3 deposits. The mining cost for those is estimated at the most at 200 dollars per ton "all up" and mined out is about 14 million dollars. This is a profit of 41,500,000 dollars for those three deposits mineable in one year shallowly. There are three other known deposits and considerable strike potential between them and at depth. It is open in all directions. It could then be conservatively estimated that the above can be multiplied by 4 for depth extension on the 3 deposits alone and perhaps that much again on three other deposits. So 4 times that gold probably exists that is mineable or 444,000 ounces. There could be that much again on three other deposits, one formerly mined and two drilled off. That would be about 800,000 ounces. To fully outline all the gold targets we could drill there would take several pages in point form. Not that many properties have that many targets. In fact I don't know any off the top of my head. EC<:-}