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Gold/Mining/Energy : Latitude Minerals LTU.V -- Ignore unavailable to you. Want to Upgrade?

To: Spiney who wrote (37)	6/8/1998 3:34:00 PM
From: Joel W. Grothendick	Read Replies (1) \| Respond to of 366

Hey Norm! Where ya been? I was beginning to think I was all alone on my pet project here. I requested info on the Blue Hill Creek property right after the announced vend in and just received a small packet about 1&1/2 wks ago. Here's a summary of that info. The property, which is considered an intermediate stage exploration project is located approx. 15 miles south of Oakley, Cassia County, Idaho and 4 miles north of the Nevada border. There is a road network present which minimizes mobilization costs as trucks have direct access to the property. The Blue Hill Creek precious metal system lies on the western margin of the Albion metamorphic core complex. Alteration and gold mineralization are hosted by 1)capping sinters and Tertiary Salt Lake Formation Tuffaceous sedimentary and volcanic rocks, and 2)underlying silty limestones of Paleozoic age. Gold-bearing chalcedonic sinters and strongly silicified tuffaceous rocks with disseminated pyrite and quartz veining are present in the main altered zone. This zone, at least 3,000 ft long and up to 1,000 ft wide, contains surface gold values to 0.06 opt. 16 RC holes drilled in 1986 and 1987 define a 170,000 ounce Gold Resource, open-ended in every direction except to the east. 10 holes contain intercepts greater than 50 ft thick grading 0.01 opt Au or greater. Some of the best intercepts include 100 ft @ 0.033, 400 ft @ 0.017, 260 ft @ 0.024, and 170 ft @ 0.023 opt Au. What strikes me about this property is: 1) The target is open in 3 directions, 2) The target is open to depth (some intercepts ended in ore), 3) 170,000 ounce resource, 4) The feeder system has not been found yet. If they can find the feeder system it seems that this could be big. It is my understanding that LTU intends to commence drilling on this property this season. I can't help but wonder why there hasn't been more publicity about this property. Is this a good sign? One can only speculate. As far as additional properties are concerned, I've been told that the company intends to continue to aggressively pursue additional property which show promise and would add value to LTU and it's shareholders. For whatever that's worth. Whew! Hope this helps. Let me know what you think, Joel