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Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: JimNewby who wrote (5317)	2/25/1999 1:13:00 PM
From: HARLEYFATBOY	Read Replies (1) \| Respond to of 5908

Still seems to be some "HEAVY" buying. Hope this baby finally takes off!!! HFB

To: JimNewby who wrote (5317)	2/25/1999 1:25:00 PM
From: Greg Ehman	Respond to of 5908

I finally got some answers... I spoke with a Nova Scotia Government Geologist today (who will remain unnamed). Due to the confidentiality laws, he could not provide (and I did not ask for) specifics about the Indocan claim. He did however, provide a great deal of background information about the area. Much of this we already know, but I feel better having heard it from one, who I consider to be a very reliable source. The Indocan property is located on the Meguma formation. This formation is known for the presence of visible gold, and a distinct style of mineralization. This mineralization is known for problems with ore continuity, disseminated gold and considerable variation in the width of zones. To also give a perspective, the Indocan property is located very close to the Goldboro property which has 2-3 mm ounces of proven gold. However, this property was deemed only marginally economical primarily due to the discontinuous and disseminated gold and the incredible variation in ore grades. Historically the Isaac's Harbour area was extensively mined with considerable gold being removed. Indocan's current property only had minor mining completed before it was abandoned. This could indicate that it was not economicial at that time. Additionally, I was cautioned as to making any assumptions of the true volume of gold. One drill hole, and the absence of any 3D geochemical analysis makes it IMPOSSIBLE to make any type of reliable volume estimate. Furthermore, this type of mineralize can result in very high gold content in drill cores, but bulk sampling CAN and HAS resulted in the actual volume being cut in HALF! (Conversely, it has also been known to double the volume as well) Indocan has never stated they have proven reserves, just the potential for it. I think the potential remains, but I don't think we'll have a very reliable estimate until at least three and preferably 100 drill holes are completed to true quantify the volume. Additionally, I think that this remains a positive outlook. This company may have hit the big one. Regardless, we are only a step away, technologically, to making this mine, and all others like it in the Meguma Formation profitable. hope this was interesting and informative Cheers Greg PS I also learned that while TUNS remains a respected technical college and there is little likelihood of tampering, the splitting of the ore at the government facility is NOT supervised by a government agent. Also, the sample collection is not supervised at the drill site, so, while it is unlikely the core would be tampered with, the potential remains to "salt" the bulk sample bags. (Just a word of caution)