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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: Stocks who wrote (1708)	2/26/1998 1:44:00 PM
From: Bob Tate	Read Replies (1) \| Respond to of 2635

By the sound of it Kinross may by taking control of exploration. This is evident by MIQ saying they are looking for other opportunities and acquiring extra land in the area. This may be the case where part of MIQ team shifting to a new areas and other personal will work with Kinross team on Railroad project. Any serious exploration approach lead to feasibility study. More they drill the higher percentage of accuracy they can determine reserves. Reserves are categorised in proven, probable, but I'm not familiar in detail with American standard. European system reserve calculation based on category A has 90% probability of proven reserves. Category C1 - 75%. A and C1 often includes on top of exploration from surface by drilling also shafts, inclines or edits driven in to expose ore and includes drilling form underground. C2-50% proven reserves usually done by surface drilling only. P1, P2, P3 (20% and less) may have no drilling just trenching and channel sampling. Since it is too expensive to bring deposit to 90% proven it is usually 75% that is used in feasibility study requirement. If they decided on target it will involve grid pattern drilling. They may still want to identify more targets before deciding on any one. We still do not know what was done in last few month by MIQ. We do not have proper maps with drill indicated targets. MIQ must have had reason not to go in those details due to negotiations done with companies. Northern Miner run two reports on Carlin Trend area gold ore bodies. Once MIQ comes-up with drill reports I will post it for comparison to other properties.