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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: TrueScouse who wrote (1759)	11/11/2005 6:21:25 PM
From: loantech	Respond to of 78416

Howy I will check it out a little closer. Thanks.

To: TrueScouse who wrote (1759)	11/13/2005 6:50:45 PM
From: zoo york	Read Replies (1) \| Respond to of 78416

Hi Guys! I spoke with Fred on Friday. It was a day off for most people in Vancouver but Fred was in the office working as usual. He tells me they are still doing work on the property right now. It is over 125 square kilometers in size, so they are paying local prospectors about $20 a day to walk every square inch of it and log in with GPS units whenever they uncover historic workings. Because these workings are shallow and have never been subjected to modern exploration, they are a very good starting point for any drilling in the future. Anyone interested in IPT should also read the NI43-101 compliant technical report for the property that they released a month or two ago. I think there is a link to it on their website. That report details several excellent exploration prospects along with sampling results, and they will be the focus of the next round of drilling. There is no drilling underway now, but Fred hopes to have that going in December. They will be using drills from the parent company, EGD, so there is no issue with rig availability. My personal opinion is that they have enough info now to go on to make a decision to exercise the purchase option sooner than later. They are satisfied that the title to the property is sound, and the workings of the existing mine and milling infrastructure can be operated efficiently with a minimum expenditure of capital (about $500K if memory serves...). Speaking with Fred at the Cambridge Show in Toronto last month, he stated that they believe they have located 4 new ore shoots along the Compadres Vein system already from the first rounds of drilling. They achieved a 100% success rate in intercepting silver values in every drill core. I like those odds regarding the potential going forward to keep the mill running at full capacity, and they will be self-financing if they do. So when the drills are turning again, we should get a nice pop in the share price. cheers! COACH247