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Gold/Mining/Energy : Darnley Bay Resources - DBL. VSE -- Ignore unavailable to you. Want to Upgrade?

To: Eric Rojas who wrote (18)	11/1/1997 8:43:00 PM
From: GOLDIGER	Read Replies (1) \| Respond to of 221

Hi Eric, Darnley Bay Resources stock has just about tripled in value,thanks to encouraging results from the first phase of its exploration program. DBRL has completed airborne magnetic surveys of 1.5 million acres over the Paulatuk area, earlier this week. The property contains North Americas largest gravity anomaly, suggesting a large concentration of minerals beneath the surface, according to Leon La Prairie. The geophysical consulting firm Paterson, Grant and Watson LTD. stated in March that the possibility of the anomalous body containing economic quantites of nickel-copper and/or the platinum group elements is considered excellent. The same firm will be reviewing the results from the aerial survey, to help isolate targets for ground crews to further explore, in Phase 11 of the program. The airborne magnetic final report is expected to be completed early next month. Mr La Prairi said he expects the firm will recommend a follow-up program for Phase 11. According to the company, early results confirm the presence of a large kidney-shaped anomalous area immediately south of Paulatuk. Data taken from the anomaly suggests that components of the interpreted intrusion(s) are considerably shallower than previously thought. That may well be the most positive news so far. The closer to the surface the anomaly is, the more likely iit will be economic to mine. Phase 11 ground survey program will consist of rock sampling, as well as gravity and electromagnetic surveys. Phase 11 will help determine the selection of sites for drilling early next year. The Enviromental Impact Screening Committee agreed last month to allow the company with Phase 11. Remember that the project has a multi million dollar existing infrastructure as a result of previous oil and gas development in the Mackenzie Delta, Beaufort Sea and the Artic Island Region. The Anomaly that DBRL has is the strongest isolated gravity anomaly in North America, four times as strong as the anomaly over the Sudbury Basin. I hope this helps a you a little. GOLDIGER.