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

To: Ceedee who wrote (240)	11/3/1998 10:19:00 AM
From: the Chief	Respond to of 1996

Hi Ceedee. Here is the conclusion of the 1998 drill program, from the head geologist! The general belief is this deposit will be about 1.2Km x 1.2Km. IMHO The breccia cap is an inverted dome and could result in less than 100 feet of overburden! Conclusion The may-june 1998 exploration program was successful in expanding understanding of the main hydrothermal system on the Coiron Property and demonstrating increased potential for the discovery of a major Gold-Copper porphry deposit on the property. A magnetite-rich intrusion containing pervasive potassic alteration was confirmed to exist beneath all lobes of the hydrothermal system, meeting a major requirement for the development of a major deposit. Potassic alteration in both the intrusion and volcanic rocks surrounding and underlying the main hydrothermal breccia has been confirmed, thus maximizing the contact area between the zones of potassic alteration and hydrothermal breccia. Porphry deposits are normally located near such a contact. The destruction of magnetite by the fluids responsible for the development of the cenntral tormaline-bearing breccia resulted in the rocks of thecentral breccia being much less magnetic than the surrounding magnetite rich granite rocks. This change in magnetism should assist in the identification of the contact between these two units by geophysical surveys. Major geophysical disturbances along the contact could be directly related to the presence of late copper and gold-rich veins that probably have been scavenging these metals from within the hydothermal system. I consider the results of the May-June exploration program of drilling and mapping to be very positive. I recommend that exploration of the main hydrothermal system on the Coiron property be continued with extensive induced polarization and magnetic surveys, followed by a program of diamond drilling. John Ostler (Head Geologist) the chief