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Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: Natrav who wrote (3236)	4/15/1999 11:17:00 PM
From: Midas	Read Replies (1) \| Respond to of 5821

Natrav: Here is the full text on Nuinsco from the Canaccord Capital Gold Update issued late today. <Nuinsco (NWI : TSE : $1.10) has now completed over 30 holes and we understand drilling has moved away from the discovery hole area. Assays are due next week. We maintain our AVOID until additional, positive assays are reported, as this target is not proving to be easily defined or, at least to date, not particularly large.> This looks like a CYA type release. The move away from the discovery hole is a good move because the discovery area was becoming well defined as a small zone with ~ 2 million tons of mineralization in it. The comment about waiting for good assays is nothing new, we are all waiting for good results. The comment that the zone isn't particularly large is wrong in light of what was just posted on this thread. The zone is 400 x 800 x 100 m (~90 million metric tons - not ~11 metric tons I posted a few minutes ago) and open. This tonnage is ~50 times larger than was suggested about a week ago when the discovery of the new zone was first reported on this thread. Depending on the grade, the ~90 million tons in the two zones is quickly putting this company in a position where they will have to think about how they want to develop the property. Midas