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Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (1677)	8/26/1998 11:11:00 AM
From: Sojourner Smith	Read Replies (1) \| Respond to of 5908

I called the NR people in Sudbury and they said they'd call me back today. All I have is the PR below which describes the history and a call I made to the a geologist that only had general information. The good thing is that this was a producing mine at one time. __________________________________________ On April 29, 1998, the company entered in to an agreement to acquire all the outstanding shares of Prodigy Resources Incorporated of Toronto, Ontario. Tony Papa of Prodigy Resources Inc. reports that Prodigy holds acreage in Northern Ontario with over 5,000,000 metric tons of garnet valued at more than $420,000,000 (USD) and two gold mine properties with an estimated 250,000 ounces of recoverable gold. The River Valley, Ontario Garnet Property of Prodigy Resources Inc. is located in Dana Township, about 40-km north of Sturgeon Falls and 10-km north of the village of River Valley. The property is between the cities of North Bay and Sudbury. River Valley is 70-km from North Bay and 88-km from Sudbury. A railroad passes through River Valley. The property is reached by traveling 3-km west from the town of River Valley then 10-km north on a gravel/bush road. The property consists of three mining claims, each being approximately 40 acres for a total area of 120 acres. The mining claim numbers are 1076837, 1077279, 1076849. Work was performed intermittently for a number of years during World War II. The Niagara Garnet Company operated the deposit from 1943 to 1949. By 1949, camps had been erected and equipped with compressor drills, a crusher elevator and picking table. A mill was erected at Sturgeon Falls. The Niagara Garnet Company sank an 18-foot deep and 75-foot long pit. The Industrial Garnet Company mined the deposit in 1950. Cubar Uranium Mines Limited acquired the property and performed overburden stripping, cleaning, test sampling of the deposit, and also did some market investigation of the product. In 1969, the Rivale Mining Company acquired the property from the successor to Industrial Garnet. Rivale explored the property by bulldozing off the overburden and then cleaning the bedrock surface with a high-pressure fire hose. Some 1,000 square feet of garnetiferous bedrock was exposed and cleaned off. Rivale was in the process of preparing the site for mining operations. Their operations were halted due to Indian Land Claims. The area was enclosed within the Temagami Native Land Claim area that opened during September 1996 after being closed during a 23-year land freeze. The land freeze prevented mining exploration or development in a 617,500-hectare area between Sudbury and North Bay. The company acquired the property when the land reopened.