Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: Glenn J. Mullan who wrote (2258)	1/20/1998 7:17:00 PM
From: E. Charters	Respond to of 3744

I must admit that is good. The "Goldfields Factor", I must incorporate it into all my new agreements: "It is common practice in the industry to give no credit at all to the prospector who sold the claims for the discovery of any mine therein and thus no remuneration can be afforded where no credit is given of other kind."

To: Glenn J. Mullan who wrote (2258)	1/21/1998 12:43:00 AM
From: E. Charters	Respond to of 3744

***************************** The Canadian Mining Newsletter Jan 20 1998 *************************** Black Pearl Minerals Ltd. BLKP/OTC CDN web.idirect.com "Successfully Completes 1997 Nickel Offsets Drilling" Black Pearl Minerals Inc. is pleased to announce the successful completion of its' 1997 diamond drill program on its' Nickel Offsets gold project in Tully Township, Timmins, Ontario. Since February, 1997 the Company has completed 61 diamond drill holes (46,636 feet) on the Nickel Offsets gold deposit (two programs) and 10 diamond drill holes (8,156 feet) testing IP targets on the northern tuff horizon which has resulted in the discovery of a significant new zone, the Murlin Zone, approximately a mile to the north on its' Dowe Option claim block. Nickel Offsets Gold Deposit The drilling programs were initiated as verification and re-assessment of previous work while focusing on mineral zonation, vein set geometry, long section infill drilling, and testing the mineralization at depth and along the strike within the mineralized favourable horizon. Work completed to date has shown the Nickel Offsets deposit to be a structurally controlled, gold bearing quartz-carbonate vein type deposit, hosted within a competent intermediate to mafic tuff horizon. This tuff horizon is underlain by an ultramafic flow unit to the south and overlain by sedimentary sequences to the north. Gold mineralization is associated with a complex system of quartz and quartz-carbonate veins within this favourable tuff horizon. Native gold is the most common mode of mineralization, most often in quartz-carbonate veins. 75% of the holes drilled contain visible gold. Drilling to date has defined the gold mineralization as three distinctive zones separated by low grade assays into a hanging wall zone, main zone and footwall zone; over a strike length in excess of 2,000 feet and down plunge to the east to a depth of over 800 feet. Excellent potential exists to expand this resource to the east (3,000 feet) and to the west (1,600 feet). The company has retained Roscoe Postle and Associates of Toronto on an ongoing basis to complete a new and accurate resource calculation for the deposit. This should be available in March. The following are significant new assay highlights from diamond drill holes TU-97-34 to TU-97-56. Assay results are yet to be received from drill holes TU-97-57 to TU-97-61. All samples have been fire assayed and/or metallic assayed. HOLE ZONE FOOTAGE WIDTH OUNCES (FEET) GOLD PER TON (UNCUT) TU-97-37 HWZ(1) 548.9 - 553.8 4.9 .282 TU-97-38 MZ(2) 594.0 - 602.5 8.5 .372 TU-97-43 HWZ 206.0 - 214.0 8.0 .122 MZ 248.8 - 253.9 5.1 .333 FWZ(3) 309.4 - 314.0 4.6 .379 TU-97-53 MZ 496.0 - 501.4 5.4 .159 FWZ 574.8 - 576.5 1.7 .974 TU-97-54 MZ 884.0 - 897.4 13.4 .111 MZ 914.0 - 916.3 2.3 .434 MZ 949.0 - 951.4 2.4 .189 FWZ 966.7 - 972.5 5.8 .194 TU-97-55 MZ 808.6 - 815.7 7.1 .188 TU-97-56 HWZ 835.5 - 847.0 11.5 1.57 MZ 923.5 - 929.5 6.0 .300 FWZ 968.0 - 970.5 2.5 .272 (1) HWZ - Hanging Wall Zone (2) MZ - Main Zone (3) FWZ - Footwall Zone ************************************************************** CMN: This is a grade-width average of 0.410 ounces per short ton (14.05 grams per tonne) across and average intersection width of 5.94 feet. 0.30 ounces is the "home free" grade of a gold mine where economics are more or less assured, barring any unusual difficulties in mining or milling, which are not foreseen here. It can cost about $60 to $80 Canadian to mine and mill a ton of ore underground. They have a value of $175 Canadian per ton. So the profit may be 163 dollars US per ounce at today's prices. It is simple ore in a country where the business is mining such ores in narrow vein stopes at a profit. With the "new north zone" looking like a "brand new mine" this orebody is looking like a severely underestimated resource. I won't just predict the probability of a mine here, I will out and out guarantee it. The stock has a lot of shares out but I will tell you it is, in general, a buy at its present price. ************************************************************** Dowe Option: Murlin Zone The Dowe option consists of 4 contiguous claims and adjoins the northeast corner of the Nickel Offsets property. The northern repetition of the favourable horizon intersected on the Nickel Offsets property trends across the Dowe claims (see map). Three diamond drill holes TUM-97-8, TUM-97-9 and TUM-97-10 drilled immediately prior to year end to test a previously untested induced polarization target (800 feet in length) within the northern favourable horizon intersected over significant widths a highly carbonatized, silicified and heavily mineralized zone, containing visible gold. Assay results should be available shortly from the Murlin Zone. Black Pearl Minerals Inc. is a Canadian junior exploration company with four active projects in Ontario, Canada. These include the Nickel Offsets gold project 12 miles due north of Kinross's Hoyle Pond Mine in Timmins Ontario; the Thorneloe project adjacent to Band-Ore Resources Inc., west of Timmins, Ontario; the Boyer Lake project near Dryden, Ontario and the Langmuir Base metal project due east of Cross Lake's recently announced zinc discovery. The company presently has 31,188,835 common shares outstanding and approximately $1.3 million in working capital. Michael W. Pickens, President 416-865-1093 FAX: 416-865-1249 Daniel T. Farrell, Corporate Development 416-864-0237 FAX 416-864-0567 906-482-6844 FAX: 906-482-6429 web.idirect.com *******************************************************************