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

To: E. Charters who wrote (6150)	6/22/1998 5:03:00 PM
From: gg cox	Read Replies (2) \| Respond to of 26850

Maybe Peter Bullock will do the honours and complete the last line of of his chart. G.G. To: The Fix (5588 ) From: peter bullock Monday, Apr 6 1998 11:04PM ET Reply # of 5611 You, Chuck and Peter Matson have asked a couple of questions which I would like to respond to. Incidentally, I looked at Winspears Web Site tonight and they also have an section similar to the Southernera site about diamonds and dikes. Take a look, it looks like we are going to have to become "dike experts". I do not have any information for Winspear properties other than what has been made public to date, but I have done some rough analysis of the emerging resource that is very interesting. Peter, dikes in the NWT are similar to dikes around the world. Diabase dike swarms occur on the Slave Craton and have been documented in CGS "Searching for Diamonds in Canada" (Open File 3228) and many of these systems extend for considerable distances. The dike at Snap Lake will likely conform to others in the area in terms of characteristics, I think it even strikes in the same direction, and it has high potential to extend for many kilometers as well as having high potential to have other related dikes and sills associated with it. But we do not need to look much beyond what is already reported to draw make very some interesting observations. What has been reported is a 1 km long dike with a width averaging 2.47 m and a reported depth of 500 meters. These dimensions are subject to change with further analysis and it could get bigger or smaller. With the resource open in 3 directions at the current time we know which way this is likely to go. But we don't have to go there right now so lets do the math on what we have reported to date. 1000 m x 500 m x 2.47 m = 1.237 million m3 of kimberlite. At a tonnage ratio of 2.7 tonnes/m3 that equals 3.33 million tonnes of the green stuff. Now for the tricky part....grade. The dike has yielded an average of 3.69 carats/tonne on very small quantities to date. Bulk samples will affect this # but we know that dikes have fairly consistent grades so, what the heck, lets use this and do the math and see what we get. 3.33 mil tonnes X 3.69 carats/tonne = 12 million carats. Now that would feed a lot of rabbits!! Is this good or bad....lets compare to other known reported resources in NWT (I hate doing charts they never line up after you send them): Company:......Resource Name:......Tonnage:........Grade:.......Value: ...................................................(mil tonnes)...(cts/tonne)..($US/ct) Diamet/BPH/......Panda....................13.4...........1.08.........$130. ..........................Misery.....................5.5...........4.26...........$26. ..........................Koala....................17.4...........0.90..........$122. ..........................Fox.......................16.7...........0.40..........$125. ..........................Sable.....................12.9...........0.93...........$64. Aber/Diavik.......A-154S..................12.0...........4.20 ..........$63. ..........................A-418......................9.0...........4.00...........$64. ..........................A-154N.................10.0...........2.20...........$34. ..........................A-21.......................5.0............3.10...........N/A Winspear............Snap's Dike............3.33........3.69..........N/A *Please note that these are still speculative numbers yet to be proven Are we in the ball park...you bet!!!!!! If we get good quality gems we will have the richest resource announced in the NWT to date. Is this a minable resource. I've already stated my opinion, for what it's worth. Peter