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Gold/Mining/Energy : ISLAND-ARC RESOURCES IAR-VSE -- Ignore unavailable to you. Want to Upgrade?

To: The Fix who wrote (90)	3/13/1998 10:52:00 AM
From: VAUGHN	Read Replies (1) \| Respond to of 186

Hello Fix Regarding your post on the SUF thread. The answer is yes and no. As I said, it would appear that differential errosion theory may be less of a consideration the kimberlites shattering the metasediments during emplacement theory would appear to have been some what reinforced. My concern on both of these plays but especially WSP's is that the area where a pipe could be hiding has been fairly closely examined, even grid drilled. Yes WH's point about a small pipe possibly being in between the drill grid is possible but that would not account for RT not being able to zero in on its EM or Mag signal or its geochemical train. Munn Lake has not been drilled beyond a few holes and the host rock is, I believe, primarily granite not metasediments (greywacke). Regardless, SUF have consistently hit dykes just south and nearby, therefore I remain somewhat cautious. Regardless, in both plays, if the emplacement shattered the capping rock sending up ore shoots or dykes, then the possibility also exists that a thicker deposit (sill or magma chamber) may lay beneath the dykes. WSP found a very thick sill which if it could be traced to its feeder may possibly lead to a deeper pipe source. Again, the dillema would be IMO heat retention. We already know that 5034 goods suffer from partial reabsorbtion and the deeper we have to look, this may become a more significant issue. Regardless, the fact of the matter is that both IAR/KLA/SUF and WSP/ABZ dykes appear to be very high grade with quality stones. What is needed now is a large deposit near surface to be open pitable. I recall a conversation I had with CJ a year ago where I asked him what would it take to be economic in a one pipe strike up here. His answer was qualified of course, but he said you would probably need a pipe like ABZ's A-21 when all was said and done. So if either of these plays only strike one small pipe, we had better hope that it compares favourably to the highest grade pipe ever found in the world. I am sure you can appreciate the likelyhood of that happening? Still, SUF have 37% G-10's, course pyropes and favourable geology, so there is obviously significant potential or they would not have spent $10 million on trying to find this pipe(s). The next few months should be very interesting and I certainly expect considerable speculation once SUF's drills start turning. If they hit, and considering the grade found to date, I would say there is a reasonably strong possibility of finding visible diamonds in a core. If that happens, enjoy the ride. Regards