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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: bill718 who wrote (407)	3/3/1999 10:12:00 AM
From: I Am Sandman	Read Replies (1) \| Respond to of 1321

International Wayside's Cariboo gold project update International Wayside Gold Mines Ltd IWA Shares issued 11,697,978 Mar 1 close $0.16 Wed 3 Mar 99 News Release Mr. J. Frank Callaghan reports The company has received from the Ministry of Environment, Lands and Parks amended Permit PE5553 issued pursuant to the provisions of the Waste Management Act. This is part of a continuing process to maintain the waste management permit for the Mosquito Creek property. Management is considering the possibilities of using the mill site on the Mosquito Creek property for treating a bulk sample. The company retained Jo Harris & Associates in February to make an application for a project approval certificate under the Environmental Assessment Act for a 3,000-ton per day operation. The project approval certificate is a requirement to expand the existing mine permit at Mosquito, to include the Cariboo gold quartz mine and its one million ounce plus gold resource. In September of 1995, management started discussions with both the provincial and federal governments through the mines branch, energy and minerals division of the Ministry of Employment and Investment. The Cariboo mine development review committee met quarterly to discuss impacts and outline procedures for starting the application phase of the mine development assessment process. Richard D. Hall is preparing exploration proposals for open pit and underground gold targets on Island Mountain. Robert Reid reports drilling on the 800-foot portion of the B.C. vein north of the shaft continues. The 160-foot drill hole in this area is near completion. An additional six drill holes have been laid out to complete the drilling necessary for the mineral inventory of this area. Based on favourable results in the northern exposed portion of the B.C. vein drilling will continue south of the B.C. shaft. South of the B.C. shaft 1,700 feet of known vein remains to be explored (see news release February, 1999). Management believes that an opportunity exists for an open pit together with a high-grade underground operation. The Cariboo gold project consists of the Cariboo gold quartz mine, Island Mountain mine and the Mosquito Creek gold mine, which covers 11,500 acres over a distance of eight miles by three miles. Production is recorded at 3.9 million ounces of gold in the surrounding of which two to six million was placer and 1.2 million ounces was lode. The company has drilled off thus far a resource of one million plus ounces that may be mineable by open pit methods. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com