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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (1041)	1/3/1999 2:20:00 AM
From: Ed Pakstas	Read Replies (1) \| Respond to of 1707

For those interested... House positions for last quarter have been updated and can be viewed here: juniorstocks.com ...ed

To: Ed Pakstas who wrote (1041)	1/3/1999 4:34:00 PM
From: Steve Joy	Respond to of 1707

Yes Ed there was a staking rush in the central area of NFLD. It is dealing with Fort Knox area that has some great potential. There are many things happening there I will let you know on tuesday I will be doing some buying tommorow. In the mean time MGJ and MCwatters has been drilling on the hammerdown now for a week or so. They are going to see if results are the same as reported. Then they will be starting the 5000 ton bulk sample. I am very happy to see this project started, it is about time. Good Luck Guys Steve Joy joysc@telusplanet

To: Ed Pakstas who wrote (1041)	1/3/1999 4:38:00 PM
From: Steve Joy	Read Replies (2) \| Respond to of 1707

Ed there is no need to rush out and buy FNX don't think they will be doing a whole lot until spring. But this area is new and the grades were excellent. Steve Joy

To: Ed Pakstas who wrote (1041)	1/4/1999 8:51:00 PM
From: Brian Fowler	Respond to of 1707

Ed; Here is some more news on FNX. Brian Fort Knox Gold Resources Inc - Northway options Twi-Lite property; Northway financing Fort Knox Gold Resources Inc FNX Shares issued 10,590,172 1998-12-17 close $0.75 Thursday Dec 17 1998 See Northway Explorations Ltd (NOW) News Release Mr. A.T. MacGibbon and Mr. Donald Rankin report Northway Explorations and Fort Knox Gold have reached an agreement in principle to enter into an option/joint venture agreement on Fort Knox's Twi-Lite gold property in central Newfoundland approximately 14 kilometres southwest of Grand Falls. The agreement provides Northway with the right to earn 50 per cent of Fort Knox's interest in the Twi-Lite property by making a cash payment to Fort Knox of $60,000 and by making expenditures on the Twi-Lite property totalling $4-million over a four year period. A minimum first year expenditure of $500,000 is obligatory and all subsequent expenditures are optional. Northway shall reimburse Fort Knox in cash for the option payments ($150,000 over a three year period) and in either cash or Northway shares (to a maximum of 360,000 Northway shares) for the Fort Knox shares issued (360,000 shares over a three year period) to the underlying owners and these payments shall be deducted from Northway's expenditure requirement. The Twi-Lite property consists of 330 mining claims covering 8,250 hectares and is subject to a previously announced option-to-purchase agreement that grants the underlying owners a 3 per cent net smelter royalty, which can be reduced to 1.5 per cent for payment of $1,600,000. Northway has engaged Northern Securities Inc. to complete a flow-through financing which will involve the issue of up to 2,187,500 Northway shares at 40 cents per share for total gross proceeds of up to $875,000. Northern Securities will be paid a commission of 6 per cent of the gross proceeds raised from Northway's general funds and will receive a compensation option entitling it to acquire 6 per cent of the number of common shares issued pursuant to the financing, exercisable at 40 cents per share for a period of one year. The limited amount of work completed to date on the property has led to the discovery of numerous occurrences of high-grade gold mineralization. This recently discovered gold mineralization is widespread and consists of multiple gold showings over an east-west distance of approximately 1.2 kilometres and a north-south distance of approximately 200 metres. The gold occurs in several distinct styles of mineralization within a widespread hydrothermal alteration system: in discrete quartz/carbonate veins with visible gold (assays up to 202 g/t gold); in quartz-carbonate vein stockworks. The stockworks occur in a wide variety of host lithologies including argillite, chert, conglomerate and rhyolite (assays up to 16.6 g/t gold); in zones of pervasive silicification adjacent to the discrete high-grade veins and vein stockworks (assays up to 4.9 g/t gold); in bedded pyritic and graphitic mudstone and its associated graphitic chert and cherty breccias (assays up to 14.9 g/t gold). The graphitic mudstone/chert unit may be a regional feature extending for up to 8 kilometres in an east-west direction; as widespread anomalous gold mineralization associated with pervasive iron carbonate alteration in rhyolites as far as 1 kilometre north of the discovery showings. Fort Knox started an exploration program in late November and is in the process of completing gridding, geophysical and soil sampling surveys over a small area covering the discovery showings. In 1999, Fort Knox (the operator) will conduct an extensive exploration program over the entire property including gridding, geological, geochemical and geophysical surveys and diamond drilling.