To: tyc:> who wrote (62626 ) 12/30/2008 9:27:31 AM From: E. Charters Read Replies (1) | Respond to Well the source of that skepticism was that the vein was drilled originally at an angle to the strike, and at an angle parallel to the dip supposedly, which tended to exaggerate the width. When a subsequent unbiased examination of tonnage and grade was done, the expected grade, width and tonnage fell sharply from company estimates or published drill hole promise, and the stock fell just as sharply. The subsequent large scale drilling campaign was largely unheralded as the stock had fallen from 20 dollars to 1 dollar. It failed again to pick up, as the company focused news on other also subsequently abortive efforts in other camps. Not much out of Timmins in the way of drill plays has been very successful for very long. Lakeshore Gold did better over time, but had scads of money thrown at it. They were drilling their deposit which is not far away from Timmins West, then called Band Ore, at the same time and coming up with not bad results. Their stock never hit the very high notes but was always somberly respectful price. Davidson Tisdale had good results but seemed to fizzle as Vedron had before with extensions of the Buffalo Ankerite in an earlier play. Did not excite the locals, who felt it was over done. Similarly the Faymar never got off the ground. Fine if you are Dome, you could mine the stuff if you were underground on it. To go after it, who had the money for a mill? Dome pawed at the Paymaster, but stopped as they balked at the dewatering cost and the limited ore. Perhaps not fair as they could probably find lots more once underground. Dome had a problem with employees underground costing them way too much money for their skills and work output. It made underground work less than palatable for Colorado head office and they shut Detour down way back when it had oodles of underground ore. Big plans underway in Timmins to expand Detour and it got shut very suddenly at 300+ dollar US gold. In Canada that came to almost $500 CDN but it supposedly was not paying even in large scale bulk mining. Dome subsequently went after two open pits and has shut down their last one early, the 1.37 gram Porcupine joint venture. They now operate underground at Musslewhite, (after Dona Lake lost or made no money), and the 10 gram Hoyle Pond property. For Dome above, now read Goldcorp. Dome/Goldcorp's most profitable mine for years, however, was an underground gold mine in Red Lake, Campbell. Since 1949 it has been a money maker, often the grade leader in Canada at about 0.47 OPT. Recently it has been mined at much lower grade, but at a steady rate of 200,000 ounces per year. Dome-Goldcorp in Timmins is now chasing the Hollinger Open pit, which surrounds the old Hollinger pit, which I lived near.
