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   Gold/Mining/EnergyPele Mountain


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To: Letmebe Frank who wrote (215)12/5/2003 7:26:03 PM
From: Letmebe Frank
   of 241
 
The Victor deposit is thus a low-grade deposit,
and will not be a prolific producer in the same
league as Ekati or Diavik. Current planning is for
an open pit mine to a depth of just over 220
metres, with a mining rate of about 2.5 million
tonnes a year. This gives a mining life of around
15 years, two for construction, 11 for mining and
two for closure of the mine Current estimates for
construction capital are around $730 million.
Current Internal rates of return estimates are just
over 8%, which is below the company’s hurdle
rate of 12%.

Because the site is entirely with in the muskeg of
the James Bay Lowlands, access and foundations
are problematic. There are no roads, and it is
difficult to move when the ground is not frozen as
everything is one huge swamp. Gravel and sand
deposits are few and far between: there are
however, a number of limestone bioherms that
come close to surface, and inn places outcrop. It is
planned to use these to provide aggregate.

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To: Letmebe Frank who wrote (216)12/9/2003 3:48:32 PM
From: rdww
   of 241
 
LOL - let me guess - DB wrote that optimistic note on Victor ! lol - well it appears to running fwd and they are in print as saying that the diamonds are way better than ekati and diavik despite those gloomy tonnage predictions - I gues they didn't want to mention that delta and tango are moving along so goes rumours and should be addt'l tonnage!

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To: rdww who wrote (217)12/9/2003 5:16:47 PM
From: Letmebe Frank
   of 241
 
With all the overburden, water issues, lack of roads or even aggregate to build with, I wonder how significant a burden they are to the economics of the Attawapiskat region diamond plays. Certainly drilling costs alone are as high as the NWT's.

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To: Letmebe Frank who wrote (218)12/10/2003 10:22:48 AM
From: rdww
   of 241
 
that was a report from 2002 - given that they are going ahead now and spending $700MM + and saying that these are better than ekati/diavik stones - I appears that they have gotten thier heads around the 'issues'. if you go to DB's canada site - there is a report from this summer that suggests a pipeline is one of the things that they ARE considering still. ALso a runway capable of handling 737's I think is in the thought process as well.

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To: Letmebe Frank who wrote (218)1/5/2004 5:22:32 PM
From: rdww
   of 241
 
Pele Begins Drilling at Attawapiskat River Diamond Project
FOR IMMEDIATE RELEASE

January 5, 2004, Toronto, ON, Pele Mountain Resources Inc. (TSX
Venture:GEM) ("Pele" or the "Company") is pleased to announce that drilling
has begun at its 100% owned Attawapiskat River Diamond Project to test
targets identified in the on-going ground geophysics program announced by
Pele on October 30 and December 5, 2003. The drill currently in use is a
lightweight, mobile drill that has been equipped to recover BQ size core
samples of bedrock that can be readily examined to determine whether or not
the drill target is kimberlite. This direct approach to acquisition of
bedrock samples will provide the opportunity to test a number of targets
prior to spring breakup.

Drilling of magnetic geophysical targets is an established method for the
discovery of the known kimberlite pipes in the Attawapiskat cluster. Pele's
current exploration program is designed to drill-test shallow ground
magnetic anomalies within or adjacent to primary structures that appear to
have controlled the emplacement of the diamondiferous kimberlites.

A total of 70 line kilometers of grid has been cut to date straddling the
extension of important structures related to the diamond bearing kimberlite
pipes along strike and within a few kilometers of De Beers' Victor and
Tango kimberlite pipes. Pele's detailed ground magnetic survey has already
identified a range of magnetic targets including relatively strong magnetic
anomalies (similar in magnetic strength to known kimberlites in the
cluster) and more subtle and weaker magnetic signatures (which may
potentially be related to variably altered crater facies kimberlite).

At least 18 diamond-bearing kimberlites have already been discovered in the
cluster, including De Beers' Victor kimberlite pipe which, according to
published information, is advancing towards planned commercial diamond
production in 2007. Pele's Attawapiskat River Diamond Project comprises the
largest 100% owned claim holdings within a 30 kilometre radius of the
Victor pipe. Kimberlite discoveries announced by a number of junior
exploration companies working in the area over the past few years suggest
the possibility that additional kimberlites are likely to be present in the
area.

Pele is a Canadian mining exploration and development company and a leader
in the search for economic diamond and gold deposits in Northern Ontario.
This press release has been reviewed and approved by Dr. Edward Walker P.
Geo., of PetroLogic Inc., an independent consultant and Qualified Person.

For further information please contact Al Shefsky, President at (416)
368-7224, or visit our website at www.pelemountain.com

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some of the
statements contained in this release are forward-looking statements, such
as estimates and statements that describe Pele's future plans, objectives
or goals, including words to the effect that Pele or management expects a
stated condition or result to occur. Since forward-looking statements
address future events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements. None of the
Company's properties have any known ore body of economic or commercial value.

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To: rdww who wrote (220)1/7/2004 10:09:56 AM
From: rdww
   of 241
 
video of drilling in attawapiskat

pelemountain.com

new pics on the site as well of the atta camp etc

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To: rdww who wrote (220)1/8/2004 9:23:03 AM
From: Letmebe Frank
   of 241
 
Thanks rdww - its great to be able to see what field conditions are like at the drill site, as have the process explained. A kimberlite hit in Attawapiskat would do wonders for GEM's market cap!

LMBF

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To: Letmebe Frank who wrote (222)1/8/2004 1:28:39 PM
From: rdww
   of 241
 
NICKEL drilling starts in Timmins
this shoud be sweet if it hits - nickel is hot and timmins
is hotter

FOR: PELE MOUNTAIN RESOURCES INC.

TSX VENTURE SYMBOL: GEM

JANUARY 8, 2004 - 12:50 ET

Pele Begins Drilling Program on Timmins Nickel Property

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM)
("Pele" or the "Company") is pleased to announce that a drill
program has begun to investigate two strong horizontal loop,
electromagnetic (HLEM) conductors at it's 100% owned Timmins
Nickel Property. The HLEM conductors will be drill tested with a
series of four drill holes that span 600 meters of strike length.

Both conductors extend southward from Pele's northern property
boundary, which ties on to the past producing Texmont Nickel Mine
Property, and is situated approximately 375 metres south of
Texmont's main shaft and approximately 175 metres south of
reported bedrock nickel mineralization within the Texmont
property. Pele's HLEM conductors correlate with the same
stratigraphic horizon as the nickel mineralized zones within the
Texmont property and are located adjacent to bedrock outcropping
of spinifex textured komatiite (an important indicator of
komatiite associated nickel deposits).

Pele acquired this highly prospective nickel property in late
2003 because of strong nickel market fundamentals and the
fortuitous availability of a property that included the
appropriate host rock types situated adjacent to a past producing
mine. Several former and currently producing nickel mines are
hosted within the world-renowned komatiite associated nickel
deposits of the Timmins area. The recent increase in nickel
prices and the construction of a nickel concentrator by
Falconbridge for its Montcalm nickel mine to be on-stream by
2005, has revitalized nickel exploration in the area which has
already lead to an important discovery of nickel mineralization
by Mustang Minerals Corporation.

Any zones of sulphide mineralization intersected in the current
drill program will be assayed for base (nickel, copper and
cobalt) and precious (platinum, palladium and gold) metals. An
additional HLEM survey is currently underway to further delineate
the conductors within Pele's property that appear to extend
beyond the original HLEM survey area.

Pele is a Canadian mining exploration and development company and
a leader in the search for economic diamond and gold deposits in
Northern Ontario. This press release has been reviewed and
approved by Dr. Edward Walker P. Geo., of PetroLogic Inc., an
independent consultant and Qualified Person.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Some
of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe Pele's
future plans, objectives or goals, including words to the effect
that Pele or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ
materially from those currently anticipated in such statements.
None of the Company's properties have any known ore body of
economic or commercial value.

Common Shares Outstanding: 43,403,014

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Al Shefsky,
President
(416) 368-7224
www.pelemountain.com

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To: rdww who wrote (223)1/8/2004 9:31:29 PM
From: GC
   of 241
 
< timmins
is hotter> very true , depends where u go though :)

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To: GC who wrote (224)1/8/2004 9:55:47 PM
From: rdww
   of 241
 
what area (S) do you hear are hot in timmins?

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