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Gold/Mining/Energy : ISLAND-ARC RESOURCES IAR-VSE -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (121)	1/11/1999 3:14:00 PM
From: VAUGHN	Read Replies (2) \| Respond to of 186

Hello Andrew I will take one too if it has WSP's carrat values with MPV's 5034 size or larger. Otherwise, I will have to insist on at least three with ABZ values and sizes. As regards the McKay Lake claims, there are quite a few SUF claims and I can not tell from my now dated claims map which are in good standing and who all the participants are. The SUF 1995 AR indicates that IAR only participates in the major south-eastern block which I believe is where both Munn and Margaret Lake lie. The western claims appear to be shared with Kennecott and KLA, the far-eastern claims with Garden Lake and RJK, and the northern claims with various juniors and Aber. IAR's 1998 circular only refers to participation in the Back Lake/Munn Lake claims. IAR at one time had claims Northeast of Yellowknife by GMD but I believe these have been dropped. I believe SUF and all claim holders must do a specified amount of work (value) every year to maintain any claims in good standing. What else they plan for the remaining claims in 1999 is not specified to my knowledge in any NR or in SUF's AR. You will probably have to call CJ or HB and ask them specifically although I imagine they will only be able to give you a generalized answer. SUF is planning significant work on the Yamba Lake claims they share with CAV, MIY and Tanqueray, but I believe their principal focus will be Munn and Margaret Lakes. As for site activities, I believe they are already underway, but I do not believe the bulk of them will proceed until Monopros has their winter road over the property, which should be well advanced by now. I gather SUF will save something in the neighborhood of $250-$500k by use of this road which I believe will be reinvested into drilling activities at these claims this winter extending existing budgets and work programs. IAR is pretty much a one shot play but with nine GT's and SUF coaching, I think it is an exciting rookie (speculation) with real potential (credibility). Remember, the magnesium and calcium percentages in the Yuri and Margaret Lake GT G-10's are the most outstanding by far of any found in the NWT which is to say amongst the best ever found and grain size has been large, so if we hit, I like the odds on one or more dingers! Regards and Good Luck