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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: maxed who wrote (2987)	4/17/1999 1:10:00 PM
From: VAUGHN	Respond to of 7235

Hello Eddy An update from WSP's website: The Wekusko Project, Manitoba, Canada Summary Winspear's focus has been almost exclusively diamond exploration during the last six years. However, as a result of the merger with Antler Resources Ltd. in January 1997, the Company participates in a joint venture base metal project in northern Manitoba. The project is a joint venture in which SouthernEra Resources Ltd. is the operator. The property is situated in northern Manitoba about 45 miles south east of Snow Lake and incorporates 64 claims that cover about 13,500 ha. These claims are situated within the Snow Lake base metal district within which numerous producers and past producers are located. The exploration objective on this property is to discover a high-grade volcanic-hosted copper-zinc-silver deposit. The area where the claims are located is covered by a thin layer of glacial material and up to 100 m of young Paleozoic rocks; these, in turn, overlie a Proterozoic suite of volcanic and intrusive rocks, similar to those that host most base metal mineralization in this important mining district. A drill program comprising five drill holes (1,628 metres) was undertaken in March-April 1997. Within a thick complex sequence (+100m) of highly altered volcanic rocks similar to those that host base metal mines elsewhere in the Snow Lake district, a thin exhalite zone (<1m) was intersected as well as three narrow zones containing interesting copper and zinc values with associated silver. Wekusko Project Drill Results - 1997 ---------------------------------------------------- Drill Drill % % Gold Silver Hole Inter- copper zinc (gr/ton) (gr/ton) Number sections (m) ---------------------------------------------------- 97.1 0.5 0.03 5.88 - 22.0 6.0 1.03 1.35 0.41 9.5 97.2 1.5 1.40 - 1.29 14.0 0.7 0.10 6.05 0.30 19.0 97.3 0.4 0.15 11.30 0.20 30.0 97.5 1.6 1.38 1.61 0.15 15.4 A re-interpretation of all data from these claims has highlighted several areas where additional work on these claims is warranted. As a result, a program costing approximately $400,000 has been approved by the joint venture partners for the winter of 1998, that will test these additional targets with about 3,000 metres of diamond drilling in 10-12 drill holes. Joint Venture Partners Winspear Resources Ltd. (33 1/3%) SouthernEra Resources Ltd. (33 1/3%) Consolidated Samarkand (33 1/3%) *********** I can't help wondering if SUF is not in Manitoba for the same reason that they invested in their latest property, PGE's. I can't see how they would really be interested in Ni or Cu. Manitoba's NI/Cu mines are well known for producing moderate amounts of Pt & Pd as a bi-product of their mining. It is possible SUF has been quietly on the lookout for North American Pt/Pd properties as well. This old Antler property does not appear to have such enrichment at least based on their reported 1997 results. It will be interesting to hear what was found this past year. You may note that SUF was the operator. Regards