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Gold/Mining/Energy : GITENNES Exploration (ase:GIT) -- Ignore unavailable to you. Want to Upgrade?

To: snorkel who wrote (939)	3/16/1998 10:06:00 PM
From: E. Charters	Respond to of 1092

I don't think so. It is suffering from the foreign Gold blues. Many good deposits are suffering worse. I think the problemo is the tough drilling. I told them that they should try a low pressure high torque oil well down hole coring rig. Those type will give core in any type of rock. Expensive but cheaper than one year and only 21 holes with large portions of partial recovery. Some shifts they would only get one metre advance. That has to hurt. The tunneling gave them good info and showed the breccia has higher grade than the drilling indicated which was expected. I think the problem here is interpreting what the drifting tells us. For open pit delineation they will need a method that covers an area. They definitely have a resource and it is probably economic, but now they have to get down and dirty and take it to another level. It is fine to want to get bought out but who is in the game at this point? echarter@vianet.on.ca The Canadian Mining Newsletter