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Gold/Mining/Energy : CELTIC MINERALS LTD A COMPANY TO WATCH SHORT AND LONG TERM -- Ignore unavailable to you. Want to Upgrade?

To: Sapper who wrote (655)	5/28/1998 1:26:00 AM
From: MNorth	Read Replies (1) \| Respond to of 744

Looks like some decent numbers. Comments anyone?

To: Sapper who wrote (655)	5/30/1998 8:29:00 PM
From: Donald McRobb	Read Replies (1) \| Respond to of 744

Also the latest Northern Miner The Northern Miner Volume 84 Number 14 June 1-7, 1998 Article Hungry Hill sulphides encourage Celtic, Jilbey A compilation report on results from the Hungry Hill base metal prospect in Newfoundland's Central mineral belt concludes that the prospect may represent the fringe of a volcanogenic massive sulphide deposit. Project operator Celtic Minerals (CME-A) and joint-venture partner Jilbey Exploration (JLB-M) engaged consulting geologist J.G. Thurlow, an authority on the deposits of the area, to compile the data from the companies' exploration work. Thurlow's compilation found that the base metal mineralization and the surrounding wallrock alteration are characteristic of the periphery of a significant massive sulphide body, though he did not conclude that an orebody was present. Thurlow noted the similarities between the geological setting of Hungry Hill and that of the Buchans base metal deposit, 17 km to the northwest, which was in production between 1930 and 1976. The study included assays of two sulphide clasts, found in a 71-metre interval taken from hole 22, hosted by volcanic breccia and sediments derived from volcanic rocks. The companies believe the clasts formed part of a sulphide body surrounding an exhalative vent and were later redeposited with the breccia as part of a debris flow. The two clasts, each about the size of a matchbox, showed grades of 15.4% and 16.4% zinc, 0.92% and 1.56% copper, 1.17% and 3.34% lead, plus trace amounts of gold and silver. These are, in effect, results from selective grab samples, with grades that suggest possible grades of the parent exhalite deposit. They do not represent actual grades of mineralized rock in place. The partners plan additional drilling, plus geochemical sampling and geophysical work.