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Gold/Mining/Energy : Palmer Resources Ltd. (PMD.V) -- Ignore unavailable to you. Want to Upgrade?

To: yosi s who wrote (183)	11/9/1998 4:54:00 PM
From: Bearcatbob	Read Replies (1) \| Respond to of 210

Thread, I think this is wonderful news. When we come out of the valley of Junior dispair we will be in good shape to be a strong survivor! Bob

To: yosi s who wrote (183)	11/9/1998 8:50:00 PM
From: yosi s	Respond to of 210

this is from PDG news release on their web page. Placer Dome to Sell Interest in Cerro Crucitas Project May 05, 1998 Vancouver, Canada - Following completion of a successful exploration program, Placer Dome has concluded that the Cerro Crucitas gold property in northern Costa Rica does not fit its strategic objectives. A process has been started to divest the Corporation's interest and exploration and project work has been discontinued. Since the grassroots discovery in 1992, Placer Dome has identified a measured and indicated resource of more than 2.5 million ounces of gold and results of recent drilling will add to this resource. John Willson, President and Chief Executive Officer, said: "We recently completed a drilling program and the results have been carefully evaluated. It was decided that the property does not meet our criteria for advancing the project further. We believe Cerro Crucitas will be a mine, but not a mine that fits Placer Dome's strategy." Placer Dome Reports Results for Excellent Operating Year February 18, 1998 At Cerro Crucitas, more than 1,600 metres of drilling in two target areas resulted in the discovery of a new deposit, Conchudita, 10 km from the known deposit. A second round of drilling on Conchudita has been initiated. Drillholes and trenches at Conchudita show mineralized intervals of up to 41 metres at 2.8 grams of gold per tonne with the potential to add 1 million ozs. of high-grade ore to the project. The current measured and indicated resource at Cerro Crucitas is estimated to be 2.2 million ozs. of gold.