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

To: George J. Tromp who wrote (5720)	4/19/1998 9:26:00 PM
From: wayne cath	Respond to of 26850

Hi George, no argument here..... your logic is just fine ,however ,to a relative novice such as myself, its' something akin to hearing both sides of an argument. I believe in investing ...long side only...but to get a few snippets of how a short player operates as well as a little low down on the scams and dark side of the VSE can only be helpful. I fully agree, if some of his activities are illegal then close him down. Best regards, wayne

To: George J. Tromp who wrote (5720)	4/20/1998 7:03:00 PM
From: bill	Respond to of 26850

George, I picked this press release up off the internet. We may all be a bit discouraged by WSP but this is the third reference to WSP and Snap Lake. Other people in the business of diamond exploration are using WSP's current program as a basis for making their decisions to spend their budgets. Maybe we shouldn't get too down about the present situation. Warburton Bay drilling commences Mr T.J. Adamson reports A $200,000 exploration program consisting of follow-up ground geophysics and diamond drilling has now commenced on the Warburton Bay diamond exploration property in the Northwest Territories. Athabaska Gold Resources holds an option to acquire a 75% joint venture interest in the Warburton Bay diamond property. On October 30 1997, the company announced the terms of an agreement with Athabaska granting to Breckenridge an option to earn from Athabaska 40% of the rights, title and interest that Athabaska can acquire in the Warburton Bay project (that is, a 30% joint venture interest in the property) by financing Athabaska's remaining earn-in expenditure requirements. Upon completion of this expenditure by Breckenridge the property joint venture interests will be Athabaska (45%), Breckenridge (30%) and 953725 NWT Ltd (25%), with Athabaska as the initial operator. The $200,000 drilling program now in progress on the Warburton Bay property has been financed by the company with the proceeds of a flow through private placement which closed on December 17 1997. Prvious exploration work on the Warburton Bay property by Athabaska, including airborne and ground geophysics, till sampling and analyses, and geological mapping and prospecting defines numerous potential kimberlite targets on which further exploration is warranted. The current program of additional follow-up ground geophysical surveys and diamond drilling will concentrate on the priority targets that are best accessed and drilled under winter conditions. The property, northeast of Yellowknife, NWT and centrally within the overall NWT diamond exploration activity, is immediately west of the Camsell Lake joint venture property of Winspear Resources and Aber Resources on which diamonds have been discovered, both in kimberlite drill core and in diamond-rich kimberlite boulders. Winspear, operator, is carrying out a major exploration program on the Camsell Lake property, budgeted at $2.1 million to June 30, comprising geophysics, bulk sampling and diamond drilling. Breckenridge is encouraged by the results reported on the Camsell Lake property and the positive implications it has for the diamond potential of the adjoining Warburton Bay property. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com