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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (41)	10/29/1998 9:49:00 AM
From: kidl	Respond to of 4409

Claude, Thanks for your post and welcome to this virtually abandoned thread. The simple fact that Corner Bay appeared on your radar screen kind of gives me a "warm and fuzzy" feeling.<VBG> Best kidl PS.: Following the last NR for those (like me) who missed it: Corner Bay Minerals Inc - Drilling restarts at Alamo Dorado, Mexico Corner Bay Minerals Inc BAY Shares issued 6,791,957 1998-10-13 close $0.25 Thursday Oct 15 1998 An anonymous director reports Corner Bay Minerals will start a phase II reverse circulation drilling program on the Alamo Dorado silver/gold property near Alamos in the state of Sonora, Mexico. The drill program is planned to follow up positive results from the recently completed drilling as reported in late August, 1998. Drill results and favourable preliminary metallurgical work suggests there is good potential for a substantial silver/gold deposit that would be amenable to open pit mining and heap leaching. The Alamo Dorado property hosts a zone of continuous gold and silver mineralization that outcrops near the top of a prominent ridge that rises some 150 metres above the valley floor. Phase I drilling was completed from L-100N to L-300S with drill stations established on sections every 100 metres for a total of 10 reverse circulation drill holes along five sections. Two holes were drilled on each section intersecting approximately 40 to 80 metres below the surface trenches. All drill holes intersected silver and gold mineralization which appears to be open in every direction. The average of the 10 drill holes is 100 grams silver per tonne and 0.31 grams gold per tonne. This is a silver equivalent of 115 grams per tonne or a gold equivalent of 2.22 grams per tonne over an average width of 70.1 metres. The phase II drill program is planned to confirm the extension of the mineralization along strike to the north and south and also down the dip. Positive drill results will enhance the prospect of a large tonnage precious metal deposit. The company holds under option the principal concession and has staked an additional 5,000 hectares surrounding the mineralized zone. Corner Bay can earn a 100 per cent interest in the property by making a series of cash payments totalling $800,000 (U.S.) over a four year term with no underlying royalties. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com