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Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (12371)	8/19/1998 2:17:00 PM
From: James E Lynch	Read Replies (1) \| Respond to of 34075

This says it all, Donald M. Hausen, a 26-year industry veteran, advising editor of the Journal of Mineralogy, and former chief of exploration for mining giant Newmont Mining Corp. Dr.Hausen, who helped develop the enormous Carlin Trend in Nevada three decades ago, has visited Cangalli and says he is convinced that there is a huge gold deposit. "I've never seen or heard of anything like it," he says."It's a new type of deposit, and that's what's stumping mining companies." How big a deposit isn't clear. On May 22, Golden Eagle said that, according to the independent mining engineer's report, the Cangalli site held proven reserves of 6.4 million ounces of gold, and "inferred resources" of a stunning 157.4 million ounces of gold. That larger number would amount to more than $46 billion in gold at today's prices. Dr. Hausen isn't so sure about that. "The numbers on this deposit seem unusually high," he says. But, he adds, "it is a very, very large deposit."