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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Berry Picker who wrote (1843)	7/3/2004 12:52:26 AM
From: Rocket Red	Respond to of 29622

Read this on the cortez trend and note the FACT on PDG Victoria has not published any detailed diagrams, but from the description it appears that the RJR zone lies on a linear between the Open Cut mineralization and the Horse Canyon deposit, possibly near the east-west oriented Chute deposit which Homestake drilled during the late seventies and for which Newmont calculated a mineral inventory of 242,196 tonnes of 4.53 g/t gold. The southern part of the Mill Canyon property consists of Wenban limestones, a primary host for Carlin-style mineralization. This area appears to have seen a fair bit of shallow drilling to a maximum depth of 200 metres; the discovery of a north-south oriented mineralized zone at a vertical depth of 265 metres is thus a significant new development. It is perhaps worth pointing out that the Cortez Hills discovery hole, the 6th of a 7 hole program, encountered 36.6 metres of 9.5 g/t gold. The Cortez Hills deposit, for which a proven and probable resource of 37.5 million tonnes of 4.36 g/t gold (5.2 million ounces) was announced in 2003, is described as occurring within a Wenban limestone unit 550 metres north-south and 245 metres east-west. Incidentally, the rumours of a high grade intersection at Cortez Hills have been confirmed as fact. During the monthly meeting of the Geological Society of Nevada on May 20, 2004 Bob Hayes, chief geologist of the Cortez Joint Venture (Placer 60% Rio Tinto 40%), gave a presentation during which he could not resist telling the audience that a stepout hole at Cortez Hills had intersected 480 ft of 1.5 opt gold starting at a depth of 1,000 ft. It remains to be seen if further drilling will demonstrate that the mineralization of Victoria's RJR zone has any continuity and volume, but without question when trading resumes there will be intense market speculation thanks to the zone's location and geological setting.