Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (1064)	7/3/2003 4:43:46 PM
From: Rocket Red	Respond to of 16205

Still holding some Frank as ACA could do well tomorrow even with US markets closed tomorrow.

To: Famularo who wrote (1064)	9/11/2003 2:16:03 PM
From: VAUGHN	Respond to of 16205

Hello Frank Looks like JI will be on "go-slow" for a lot longer: Twin Mining Options Six Gold Properties On The Abitibi Gold Belt TORONTO, Sept. 11 /CNW/ - Twin Mining Corporation (TWG-TSX) is pleased to announce that it has, in line with its overall business strategy, optioned six gold properties on the Abitibi gold belt. This strategy is to acquire gold properties with a high potential for near and medium term gold production during forthcoming periods of high gold prices. Moreover, it builds on Twin Mining's commercially attractive, 100% owned, Atlanta Gold Project which is in the bankable feasibility stage with present plans calling for 82,000 ounces per year of gold production commencing in 2005. The six properties are located along a 65 km stretch of the Abitibi gold belt in Quebec, which also includes multimillion ounce producing gold mines such as Doyon (Cambior), La Ronde (Agnico-Eagle), Bousquet No. 1 and Bousquet No. 2 (Barrick). Breakwater Resources Ltd. has granted Twin Mining an option to acquire an up to 80% interest in the 6 properties, totaling 2,721 hectares. They are known as Normar, Malartic "H", Malartic "H" Annex, Mouskor, Joannes North and Joannes West (see www.twinmining.com). Under terms of the option agreement, Twin Mining will be required to spend $150,000 before September 2004 and make a payment of $25,000 on that date to renew the option. An expenditure of $3.5 million and payments totaling $125,000 will be required to maintain the option through September 2008 and earn the initial 60% interest. Twin Mining can then purchase a further 10% interest for $500,000 and an additional 10% by completing a feasibility study. There is a provision to buy Breakwater out of the project for $1,500,000 if it decides not to participate in development of the properties. It is planned to complete more than 6,000 metres of diamond drilling by year-end to establish the resource potential of three gold deposits as well as to determine the significance of several favorable untested structures delineated by geochemistry and geophysics. Two of the gold deposits, Decoeur and Paquin, are on the Normar property while the third is on the Malartic "H" property. The two Normar deposits show evidence of increasing grade and widths at depth and were reported in a Breakwater compilation (1990) on the basis of shallow drilling to have a combined "drill-indicated mineral inventory" of 60,000 tonnes at 6.6 g of gold per tonne. The first two Twin Mining holes at the Paquin deposit will undercut by 100 m previous intersections of 11.97 and 10.23 g/t over 1.5 m where four mineralized zones have a cumulative width of approximately 50 m. The first hole of the simultaneous program at the Malartic "H" will evaluate the down dip extensions of another four zones for which shallow drilling yielded 8.7, 7.9, 19.5 and 7.7 g/t over respective widths of 5.1, 2.3, 1.0 and 1.2m. Mr. Dallas Davis, P.Eng., Consultant - Diamonds and Gold, is Twin Mining's Qualified Person for its "gold exploration program as defined by National Instrument 43-101" The Abitibi belt is the source of approximately 5,000 (150 million ounces) of the 8,000 tonnes of gold which have been extracted from the Superior Province of the Canadian Shield. Quebec's portion of the Abitibi belt continues to yield many new discoveries and annual production exceeds one million ounces. Quebec is the top-ranked North American jurisdiction for mining investment according to the Fraser Institute, both with respect to policy and mineral potential. Twin Mining is very excited about the results from its Jackson Inlet DIAMOND project and by increasing its gold base, the Company offers its shareholders participation in the rapidly growing value of its GOLD division. The Company relies on Safe Harbour Protection (see website). Regards Vaughn