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

To: Letmebe Frank who wrote (11743)	1/12/1999 10:07:00 PM
From: Cecil	Respond to of 26850

Hello boys and girls. Thought you might be interested in this release. Looks to me like Winspear is staying busy. Cecil VANCOUVER, Jan. 11 /CNW/ - Winspear Resources Ltd. Trading Symbol: WSP-V Winspear Resources Ltd. (WSP-V) is pleased to report on 1998 exploration results from the Hilltop area, NWT, which is situated approximately 180 km northeast of Yellowknife. During the past year, Winspear acquired by staking approximately 320,500 acres in this area. The northern boundary of this area adjoins the southwest boundary of the Camsell Lake property. Pursuant to a pre-existing agreement, Winspear has joint-ventured approximately 90,150 acres of this property to SouthernEra Resources Ltd. which has a 20% participating interest with Winspear holding the remaining 80%. The property held by this joint venture is now referred to as the Cache property. The remaining area, approximately 230,350 acres and referred to as the Hilltop property, is held 100% by Winspear. Both the Hilltop and Cache properties are operated by Winspear. To date, Winspear has spent about $975,000 on the combined Hilltop and Cache properties. Work completed includes a detailed helicopter-borne Mag/EM survey undertaken at 50 metre line-spacing comprising 8900 line-km. A total of 781 till samples were collected of which about 65% have been evaluated for indicator minerals. In addition, on the Hilltop property (100% Winspear), a limited ground Mag/EM survey has been completed over a small selected area and two targets have been tested by diamond drilling. During the course of sampling the property this season, eight indicator mineral trains were identified. Follow-up sampling resulted in better definition of the trains and in the discovery of numerous small kimberlite fragments associated with some of them. Preliminary evaluation of indicator mineral chemistry that includes pyropes, ilmenite and chromite, suggests that a significant number of pyropes and chromites plot within compositional ranges normally considered to be equivalent to the ''diamond stability field''. An aggressive exploration program is being planned for this coming winter /spring season to locate the source of the indicator minerals and kimberlite fragments. A program budget of $1.5 million has been allocated for follow-up geophysics and approximately 2500 metres of diamond drilling during this winter season together with additional till sampling on the property during the summer season. It is anticipated that the drill program will get underway in March following completion of ground geophysics. Winspear Resources Ltd. (signed) _______________________ Randy C. Turner, P. Geo. President, Director The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. -30- For further information: Randy C. Turner, President and Director, (604) 687-6644, fax (604) 687-1405, Toll-Free, 1-800-686-7744, Web Site www.winspear.com, E-mail randgrp@helix.net

To: Letmebe Frank who wrote (11743)	1/12/1999 11:35:00 PM
From: teevee	Read Replies (3) \| Respond to of 26850

Hi Frank, Vaughn's December post was a particularily good one. I am dying to see some magnetic data someday. He suggested there could be two pipes. Interestingly, I have suggested that there is likely more than one cone sheet at Snap Lake and therefore more than one feeder/pipe (each conesheet has its own feeder/pipe). Something else that I have not brought up, and no one else has on this thread as far as I know, is the possibility of three diamond populations at Snap Lake (apart from peridotitic and eclogitic parentage). Namely, the micro's plus macro's originating from about the same depths as Ekati(~200 kilometer depth) and a third population originating from about 300 kilometers depth. It is diamond from this great depth that would likely match in appearance and quality,"Russian" diamond, originating from Mir. regards, teevee

To: Letmebe Frank who wrote (11743)	1/13/1999 1:11:00 AM
From: .Trev	Respond to of 26850

Yeah I read the post and thank you for it because I had been meaning to look it up again. You should be aware that I asked Vaughn some questions on that post and he replied several more pages a few days later, also worth reading. Several posts from Walt Humphries about that same time are also meaningful. Cheers

To: Letmebe Frank who wrote (11743)	1/19/1999 3:16:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 26850

Hello LMBF I probably should have added the following observation to my post your are referencing. Mag lows especially along faults can be caused by certain geological conditions and are not necessarily kimberlite pipes. These could be geothermally leached rocks (metals removed) or isolated sedimentary blocks surrounded by granites or magnetically higher volcanics. I would certainly be more optimistic if they were coincident with a pronounced EM response and/or significant bathyometric depressions. Regardless, they were distinctive albeit not extreme lows in an otherwise moderately more magnetic and featureless background, and they did appear to obliterate the mag high from the cross cutting diabase. Generally, the magnetically noisier area appeared by far to be the central and southern portions of the lake, with multiple relatively intense small circular highs and lows, but as I said, I believe Walter indicated that only one of these proved to be a kimberlite and it was a narrow dyke. One other observation you should probably keep in mind. WSP's down ice float was I believe of a relatively modest size. While this is not a significant indicator one way or the other, you would think that float of a larger size would be found down ice from a pipe. Regardless all this is just arm chair conjecture. WSP could put the whole matter to bed quickly enough by taking lake bottom samples immediately over those two lows and over any observable lake bottom depressions. These could be analyzed quickly enough and any resulting elevated combined levels of magnesium, chromium, nickel, rubidium, niobium, clinopyroxene, olivine, uranium, etc, would be suggestive that they ought to consider spending a few dollars drilling these targets. If the lake bottom samples came back with unremarkable levels of these minerals, the expense of drilling probably could be avoided. Waiting of course keeps the speculative bubble afloat. Regards