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I think this stock has alot of potential and will be a great investment in 1999. A precious and base metals exploration and development company Publicly Listed on the OTC:BB Trading Symbol: GOAN Highlights Latest Geological Findings. Spectacular First Drillings. Goanna's exploration and development properties are located in Western Australia, a major world producer of gold, diamonds, nickel, iron ore, natural gas and oil. Goanna, a U.S. resource corporation, has ten gold-bearing properties covering over 2600 acres which are estimated to contain a minimum of 300,000 ounces of gold with the possibility of a yield of one million ounces, according to the company's geologist. Properties have significant base metal values of copper, nickel and zinc. Goanna is currently publicly listed on the U.S. stock exchange OTC:BB Trading Symbol: GOAN Corporate Profile: Goanna Resources was formed to explore for precious and base metals in Western Australia in particular. The State is a major world producer of gold, diamonds, nickel, iron ore, alumina, natural gas, oil, titanium minerals and salt. While company management has significant experience in mining ventures, Goanna is a start-up venture. As such, there are a number of risk factors, but in such circumstances there are also incredible rewards if significant discoveries are made. Gold Exploration: Goanna's gold properties are located in the Southern Cross greenstone belt of Western Australia in the same area as one of Australia's major mining companies, Sons of Gwalia. In the Southern Cross, this company's gold production and known reserves exceeds twelve million ounces. Goanna plans to begin a drill program over the next few months. Previous gold the production history on the properties has revealed up to and over one ounce of gold per tonne of ore which has been mined at surface. Goanna feels its drilling program of between 50 to 200 metres could prove up a major ore body. Nickel Exploration: Goanna's firststage drilling program for gold actually turned out to be a bonanza for nickel. Assayed samples show up to 7000 parts per million (ppm) of nickel. Any nickel values over 500 ppm are to considered by geologists to be very significant. The nickel find is on the company DerwentJack property near Bullfinch in the Southern Cross area. Company geologists are now undertaking the next stage of drilling to prove up the property. While determining whether Derwent Jack is an economic ore body is still in the future, our geologist reports it has the initial indications of having the potential to host an ore deposit such as the giant Silver Swan, which is one of the world's richest nickel mines of 665,000 tons of ore grading 9.5 per cent nickel. Nickel, of course, is one of the most versatile metals and is used in a variety of ways. In fact, there are over 30,000 industrial applications for nickel containing materials and the list keeps growing. However, major use of nickel is for stainless steel which accounts for nearly two thirds of the world's nickel consumption. Management Profile: Goanna's management team has international resource management and technical expertise with both junior and senior mining companies. These include International Nickel, AMAX and Canada Tungsten Mining Corporation. Summing Up: Gold is viewed around the world by investors as the "ultimate asset" since its resists devaluation; cannot be inflated by printing more of it; and its price cannot be changed by law or decree, thus making it an essential part of any investment portfolio. For more info on GOAN, e-mail Investor Relations official Winston Cabell at: wcabell@home.com | ||||||||||||
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