To: Laser who wrote (23) | 2/26/1997 8:43:00 PM | From: Ken Hillcoff | | |
Here's text of PR dated Feb. 26/97:
A Geostatistical Resource Estimate for the Mac Property has been completed by G.H. Giroux, P. Eng. MaSc. of Giroux Consultants Ltd. The report confirms that at a cut off grade of 0.06 MoS2, the Indicated Resource in the volcanics is 52,420,000 tonnes at an MoS2 equivalent of 0.14 MoS2 and the Inferred Resource is 47,520,000 tonnes at an MoS2 equivalent of 0.12 MoS2 for a total of approximately 100 million tonnes Indicated and Inferred. Gross value of the resource at current market prices exceeds one billion dollars Canadian.
On February 19, 1997, the Company commenced a new phase of diamond drilling of the Mac Molybdenum/Copper deposit near Granisle, B.C. The planned 2,500 metre drill program will focus on extending the higher grade intercepts of Molybdenum and Copper in the South East volcanics of the Camp Zone.
The private placement announced December 23, 1996, has now been completed. A total of 365,000 Flow-Through Units were sold to six placees at a price of $0.75 per Unit, for total proceeds of $273,750. The proceeds of the private placement are being utilized in the Drilling project currently underway.
ON BEHALF OF THE BOARD
SPOKANE RESOURCES LTD.
G. ARNOLD ARMSTRONG, CHAIRMAN
Anybody know what these numbers mean?
Ken |
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To: Ken Hillcoff who wrote (24) | 3/1/1997 7:28:00 PM | From: Laser | | |
This is one lonely thread,huh? The resource estimate looks like a confirmation of what was already stated in the Dec. 16/96 release. There is no increase in the estimate of 100m tonnes which the prior release stated they had the potential to expand upon. Keep in mind that this is an "indicated and infered" estimate which is based on widely spaced drilling. Hopefully the current drill program on the Camp Zone will add to the indicated estimate. Best of luck,
Leonard |
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To: Laser who wrote (25) | 3/3/1997 9:09:00 PM | From: John Soileau | | |
Wish they had more and faster drill activity, but that's the way it is. They need more long .20 Mg and .20 Cu holes in the Camp Zone, the last holes were a bit short of that. They have an interesting deposit and a very sleepy stock...for now. |
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To: John Soileau who wrote (27) | 4/7/1997 12:29:00 PM | From: Doug McFaul | | |
Hi John,
I know what you mean. All we know is that they are drilling and as they usually did they do not say much and will probably wait to all the holes are done and the results are in.
We will wait and see. We like the property and believe it can develop into something good, but we have to just wait for the results.
Doug |
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To: Doug McFaul who wrote (28) | 5/10/1997 11:48:00 AM | From: Pierre J. LeBel | | |
Hi Doug,
I realize that you no longer work for Spokane still, you certainly have a better understanding for what is happening with this stock than most of us.
We have seen a nice move on the upside (with very low volume) following the recent BUY recommendation by the 'Buy Low Sell High' newsletter from Kamloops, BC.
What do you think?
Is it the beginning of that long awaited move to $ 2.00 and above?
Have a very nice day.
Pierre |
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To: Pierre J. LeBel who wrote (29) | 5/13/1997 10:21:00 AM | From: Doug McFaul | | |
Hi Pierre,
Sometimes I don't know what to think, I would just like SKN to get going like everyone else.
I understand the company is trying to get the price up a bit to complete a financing. The Company can not start drilling again until late June-early July due to spring break-up so they have a little time to complete the financing. They hope to have the reports from Fluor Daniel Wright and Fox Geological about the same time. We are still waiting to see the drill resutls from the holes they drilled in Feb-March. Once again, we will be patient a while longer to see if they can accomplish a few of these goals. Like you say hopefully, it is the beginning.
Doug |
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To: Doug McFaul who wrote (30) | 5/13/1997 7:58:00 PM | From: John Soileau | | |
Doug, is it an unusual delay that we don't have the Feb-March drill results? Or just a slow lab? Or do they have them but are just sitting on them (not a positive). I'd appreciate your opinion. Thanks John |
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To: John Soileau who wrote (31) | 5/14/1997 9:59:00 AM | From: Doug McFaul | | |
Hi John. They might just be putting the results in with the rest of the analysis they are waiting for from Fox Geological and Fluor Daniel Wright. If you call Spokane you may want to ask Lucy Godwin the in-house IR. I would not read too much into it. In the past, Spokane management hasn't really concerned themselves with the timing of the release of news whether good or bad. Next time I talk to them I will ask them as well.
Doug |
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To: Doug McFaul who wrote () | 5/25/1997 10:59:00 PM | From: John Soileau | | |
Spoke with IR. They are preparing for a listing on the TSE, that's good news. Also, prefeasibility before too long, that should heat things up. |
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