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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC) -- Ignore unavailable to you. Want to Upgrade?

To: knight who wrote (199)	6/20/1998 12:29:00 PM
From: John Fairchild	Respond to of 397

I disagree Knight. Many open pit heap leach operations occur under 1 g/t. These grades are far better than this. Note the mention of minimal sulphides. Also this deposit is very accessible. Nothing short of big grades in every hole will satisfy this market. Well it's not going to happen at very early stages of exploration at La Manchuria. Continued drilling is what is required to grow this deposit including some deep drilling. Remember that they are drilling on a dome structure so the ore grade mineralization found so far would not require an open pit but more of a topping off or cutting into the dome. They have hit some very high grades ie 25 g/t over 8.9 m. I suspect that mining of the high grade ore shoots alone would be economic. Not enough work has been done to understanding the deposit but the results so far sound very encouraging. I would think that finding a feeder system would instantly make this one a mine. One of the big reasons for the market response is of course that drilling season has ended at La Manchuria. So your right in that investor attention will have to shift to Niblack which of course is the companies primary focus. Good luck all. John