To: the Chief who wrote (722 ) 10/30/1997 10:35:00 AM From: Feline Read Replies (1) | Respond to
I agree, a global review of the chronology of the area play when the market is looking for specific news is not a good sign. However, there is an excellent clue in the news release which suggests a lot to me. "Initially, a fence of four ANGLE HOLES was drilled at 100 meter intervals to test a GROUP of electromagnetic anomalies within the gabbro." This could mean that the mineralization that caused these anomalies is or was localized or remobilized into high angle faults (?) and that the structures could be local and small. That is, the anomlies represent more than one and probably unrelated or discontinuous structures. Other step out holes to test the arial extent of this mineralization were VERTICAL and had nothing of economic significance in them. This could mean that they have not yet found the magamtic chamber or, if it exists, it is not related to the mineralization in hole 67 or 75. Short term negative I think. Someone should ask them, if it exists, what is the alteration assemblage in the wall rocks in holes 67 and 75 adjacent to the mineralization.The news release also suggests that Teck is drilling as many targets as possible to get as much information as possible. I've seen this happen before and the reason that could be is that Teck wants to study the information over the winter. A precursor to shutting down the program for winter? I'm not long or short but I've been thinking about the significance of these electromagnetic anomlies within the fine grained gabbros. Right now I'm leaning to the explaination that they are geologically important but may have limited economic significance. This is still a huge puzzle but I think I'm going to wait until next March for my entry point. My plan, of course, can be changed by a great drill hole which, given the setting, is still possible.
