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Gold/Mining/Energy : Madison Enterprise, MNP/VSE -- Ignore unavailable to you. Want to Upgrade?

To: Dan P who wrote (200)	2/2/1999 6:35:00 PM
From: mineman	Respond to of 285

Investor Rel. said today hole 146 has visible gold. The high-grade part of Zone 7 at Porgera was only 100 meters long X 150 meters high. It produced over one million of ounces gold. The Porgera Zone 7 trends East-West. The zone between holes 146 and 5 trends East-West. Anyone know more about hole 146?

To: Dan P who wrote (200)	4/1/1999 9:18:00 AM
From: mineman	Read Replies (1) \| Respond to of 285

March 30 NEWS - Drilling defines Porgera-like vertical high-grade zone An East-West zone of good-grade crystalline gold that comes to surface is just like Porgera's East-West high-grade quartz-roscalite ZONE VII (100 m long X 150 m high produced over 1 mil ozs gold). Along this zone which # 5 previously hit 10 oz/t / 32 m (21 m true width), # 146 had .25 oz/t over 61 m (40 m true width), # 157 had .14 oz/t over 16 m (11 m true width), and #149 had .07 oz/t over 22 m (15 m true width). For an average grade of .25 oz/t gold over 20 m width, 150 m length, and 200 m depth this one zone contains 1.5 million tons at .25 oz/t = 375,000 ozs gold (value = $105 mil.) The 20 m wide vertical zone could be easily open-pitted. Madison has 3.6 mil ozs. total reserves X 65% (Madison) = 2.3 mil ozs. X $70 /oz (open pittable in easily mined vertical zones that come to surface) = $160 Mil./25 mil shares = $6.40 / share. This property is exactly what the majors are looking for - an easily mineable good-grade deposit with the company trading at a low price. Has anyone heard rumours of takeover??