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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (29231)	12/13/1997 9:57:00 PM
From: Albion Ende	Read Replies (5) \| Respond to of 35569

Subject 18513

To: E. Charters who wrote (29231)	12/15/1997 8:55:00 AM
From: Aurum	Read Replies (2) \| Respond to of 35569

It is off-topic, but I think you might be interested in a spectacular find of native silver (with nickel, copper, PGEs etc) in Australia. The stocks involved are very cheap at present. The two companies involved (in a joint venture arrangement) are capitalised at less than $20 million at present but there is potential for the orebodies to contain several billion dollars worth of silver, nickel, platinum, copper and other commodities. The potential size of the resource is not the most exciting aspect - the orebody is incredibly rich. A 103 ton bulk sample is currently being assayed, but it is expected to contain several (possibly 10) percent silver (yes, percent). Ribbons of solid silver were seen in the walls, roof and floor of the cross-cut (tunnel) from which the sample was taken. A zone 0.3 metres wide (about 12 inches) assayed 37% silver! Several other zones of native (ie. metallic) silver were seen and the main ore zone is 3.25 metres thick surrounded by lower grade (1% silver) ore. One percent silver ore is worth about US$1,600 per ton. The two stock are still selling for pennies because the brokers did not believe the initial stories about this find, and are obviously reluctant to admit that they might have been wrong in their hasty dismissal of the find. The orebody occurs in a layered intrusive, close to a large, sub-economic PGE orebody. For those who are interested, the stock are East Coast Minerals NL (ASX code ECM, ECMO and ECMA) and Legend Mining NL (ASX code LEG and LEGO) and they only trade on the Australian Stock Exchange (ASX). I am a prospector and I have some knowledge of the area where this find was made. My feeling is that it is going to develop into a major mine. More details regarding this find by ECM and LEG can be found at: hotcopper.com.au