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

To: Richard Humphrey who wrote (3813)	1/14/1999 10:17:00 PM
From: Bob Walsh	Read Replies (1) \| Respond to of 4057

Fairmile's first quarter results Fairmile Gold Corporation FLA Shares issued 25,554,555 Jan 14 close $0.04 Thu 14 Jan 99 News Release Mr. Steve Stakiw reports During the first quarter of fiscal 1999, Fairmile identified new targets at Buffalo Valley and Highland, its two wholly-owned gold properties in Nevada. Both properties offer a number of previously identified targets in addition to those newly identified. Fairmile believes all of these targets are geologically favourable to establish, or at Buffalo Valley to increase, resources that may be developed into low-cost producing mines. At Buffalo Valley, along the prolific Battle Mountain/Eureka gold trend in north-central Nevada, computer modelling of Fairmile's previous drill results has led to the development of a new target along strike, but deeper than the known resource of over 600,000 ounces of gold. This target is modelled after the nearby Fortitude high-grade gold deposit, and has the potential to host high-grade gold where the Buffalo Valley fault cuts a 300 foot thick unit of favourably altered carbonate host rocks of the Havallah sequence. Fairmile is continuing discussions with several major mining companies as potential joint-venture partners to drill test this and the other high-quality targets identified at Buffalo Valley. Work also continues on Fairmile's Highland project in the Walker Lane trend of west-central Nevada. Highland has produced a small amount of high-grade gold ore in the past. Geologic evaluation of the recently acquired BUZ claims has identified three target areas on the new claims, each with surface samples containing more than 0.10 troy ounces gold per ton and trace element geochemistry similar to the other Highland targets. Fairmile currently controls approximately 350 claims (6,900 acres) covering seven targets at Highland. Fairmile has been in discussion with several major mining companies regarding a possible joint venture of Highland. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com