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

To: lloyd lush who wrote (600)	2/8/1998 3:32:00 AM
From: Cal Powers	Respond to of 1030

Lloyd, You made some good points. I've met Mike Ballentyne at PDAC and Cordilleran shows in the last couple of years. Isn't he on the board of Diavik/Aber? Heard he has a strong relationship with Gren Thomas. The Discovery Mine is located in a very beautiful area. If it wasn't a mine, you might think it was a fishing lodge. It is about 45-50 miles north of the capital city of Yellowknife. Access is by float plane in the summer and winter road in, what else, winter. Infrastucture exists to support an exploration program with about 35-40 people. There were two drill rigs onsite last summer. The main building houses offices for on site management, a briefing room for 30-40, offices for geologists, and computers for modelling. The core shack is attached to the main building, and a core splitting room. There is an extensive organized core shack operation. There is housing accommodation for all staff and central kitchen facilities to feed them. An independent assay firm is on site and have their own building to crush and pulverize core for shipment in small bags (.5 gm). Half of the core is logged and kept on site and the rest is shipped south for assaying by their own firm. It's cheaper to send out small bags than heavy core boxes. Fuel tanks, power plant and various vehicles and heavy equipment support the operation. The project manager and geologists are experienced and knowledgeable people. When pressed for information, they are conservative about Discovery's potential, especially in light of Bre-X, Golden Rule and Delgratia in 1997. All in all, its an operation that is indicative of solid planning and organization. There's a lot of substance there, moreso than some of the other outfits that one reads or hears about on SI or elsewhere. Too bad gold collapsed and recent events transpired to tarnish credibility. Hope this helps. Cal