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Gold/Mining/Energy : Clear Creek Resources - CK/VSE -- Ignore unavailable to you. Want to Upgrade?

To: Rick who wrote (125)	5/7/1998 7:08:00 PM
From: Natedog	Read Replies (2) \| Respond to of 150

Second stage Good Hope exploration program completed Clear Creek Resources Ltd CK Shares issued 3,251,001 May 7 close $0.70 Thu 7 May 98 News Release Mr. James Harris reports Clear Creek has completed the second stage of its exploration program on its Good Hope diamond property on the West Coast of South Africa. A pitting program was conducted on land above the normal inter-tidal zone to determine the distribution and thickness of the diamond bearing raised beach gravels. The exploration program to date has proven a near surface gravel deposit of 218,000 tons at an indicated grade of 19 carats per hundred tons. Excellent potential exists for additional tonnage on the land zone. The land zone was not fully evaluated because a number of the 75 prospect pits did not penetrate the overburden and most of the intertidal zone has not been prospected. Management is therefore confident further exploration will significantly expand the mineable tonnage and is planning to commission equipment to continue exploration where overburden exists. As is typical of South Africa West Coast diamond production in general, the diamonds recovered to date are small, but of exceptionally high quality. The diamonds recovered to date have realized a selling price consistent with the previous sales reported in the news release of Jan. 29, 1998. The company's consulting geologist, Robert Cooke, has recommended testing the offshore zone which extends seawards for a distance of 31.49 metres below the low water mark. Testing of this area will commence shortly. A program of trial mining has been recommended for the land zone. Management is obtaining quotes from equipment manufacturers with a view to commissioning a pilot-mine as soon as possible. Based on these positive exploration results, management expects the Good Hope property to provide near term positive cash flow. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com FANTASIC!! ......218,000/100=218019=41420137us=5674540*1.4 cnd=7,944,935 divide 6.5million shares:)))......... even at npv its good! hellooo market cap! They did say the property is getting bigger:) ..... and ten carat stones too ehhhhh!!lol