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

To: brian krause who wrote (17009)	3/27/1999 11:16:00 AM
From: Walt	Read Replies (5) \| Respond to of 26850

Here are some Saturday morning musings. The kimberlite in the dyke had to have a route of some sort to get from the mantel into the dyke. This could be one or more blind pipes that didn't make it to surface or it could be one or more vertical dykes that didn't make it. One would expect the dyke to get thicker the closer you get to the source. This may not happen but the chances are that it does. So my quess is the source is farther along the K blocks or the trend of thickening. They are cementing the holes they drill in the lake, and probably most of the ones on land as well. It takes time because after you finish a hole you then have to back fill it with cement. They do this for an obbvious reason, when you go underground you dont want holes that water can run through. WSP is trying to prove up tonnage and minable tonnage hence the line in the NR saying they will concentrate on the section where the dyke widens. Drilling there gives you tonnage faster and I presume is also taking you closer to the source. As for mining, first you come up with a good three dimensional model of what your deposit is like then the engineers go to work and design a model for the best most economic way to mine it. Mines mine out under lakes all the time and in northern canda it is hard to think of a mine that isnt in part under a lake or just beside one.Underground workings have to be a certain minimum size for men and equipement to work in. You can mine smaller dimension ore but it means you have to take more waste out. It is done all the time but it does cut down your grade some with dilution. Exploration has different phases. You start with a target, geological kmodel etc and say OK lets put a few drill holes in it and see what we got. After you get a good hit then you do the grid drilling or more detailed exploration to prove up tonnage and grade. That is the phase WSP is in now, tonnage and grade calculations. Ive been following this play for years now, it is a fascinating story of exploration. WSP like everyone else in the NWT was looking for a pipe or pipes, they found this dyke instead. Right from the very beginning people periodically come on a say, DYKES are no good it has to be a pipe, you casnn't mine out under a lake, its too this or that. I have even seen that type of thinking in the field by some exploration people and alot of mines get missed because of it. Its like a broken record and you could say it about almost every mine that has ever been found. A couple holes get put in a some one says Its too small, its too deep, its too remote, its too this or that, or if there was anything in that area it would have been found by now. People with that attitude don't find mines because the first few holes are never good enough. I find it interesting that a small group of posters who claim to have no interest in WSP spend there days and nights being nay sayers. Why are they wasting there efforts. Others claim they dont know mining or exploration but the stock will tank because all diamond exploration plays tank. According to them there are no diamond mines in canada. Again if one were going to short a stock there are lots better candidates out there to pick. Seems to me there is more going on here then meets the eye. It is interesting that alot of the people who spend every waking hour trying to slag WSP also support other diamond plays JV with a particular major player in the buisness. Strange buisness at times. When the diamond play first got going alot of people wondered why Debeeers wasnt more aggressive staking, exploring etc. Someone who knew the buisness well said ïts not their style but you just wait till the dust all settles and then you will find one way or another they will end up owning or controlling most of it. The real shame in all of this is that the Canadaian Mining establishment has let all of this slip between their fingers. regards Walt

To: brian krause who wrote (17009)	3/28/1999 10:04:00 PM
From: Letmebe Frank	Read Replies (3) \| Respond to of 26850

Brian: Re Mag Low locations in Snap Lake - review this post by Vaughn: Message 6673013 Look at point # 18, or so. Asside: This weekends posts are a breath of fresh air - no polution around that I am forced to "breath". Great technical talk. Thanks Jack, WillP, Russett, Red, Fixer, Brian, and the rest of the gang. Love you all. Asside 2: we WILL see 4 buckaroos next week. No sell off in sight using my post releasometer.