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Gold/Mining/Energy : Pele Mountain -- Ignore unavailable to you. Want to Upgrade?


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



To: GC who wrote (224)1/16/2004 1:29:34 PM
From: rdww  Respond to of 241
 
Company believes it could be onto the next Northern diamond find
TIMMINS/The Daily Press
January 14.2004

By Gregory Reynolds

A junior mining company has big dreams as it is seeking nickel south of
Timmins and diamonds at Attawapiskat and Wawa.
Pele Mountain Resources Inc. is drilling on its 100 per cent owned Timmins
Nickel Property. It is also drilling on its 100 per cent owned Attawapiskat
River Diamond
Project.
What may be its best property is 25 kilometres north of Wawa where president
Al Shefsky says ³Pele has discovered an important new source of Canadian
commercial size and gem quality diamonds.²Pele controls a 100 per cent
mineral rights interest in the 101 square km Festival Diamond Property.
During the 2003 winter exploration program, a 13 tonne sample from the
Cristal diamond occurrence returned 39 commercial size diamonds, including a
0.72 carat white gem quality diamond named ³The Big Goose.²
In December, prospector Joe Leadbetter found a 1.39 carat gem quality stone
by panning in the Wawa district.
In July, De Beers Canada Exploration Ltd., the world¹s leading diamond
exploration, mining and marketing company, signed an option and joint
venture agreement that will see it earn an initial 5l per cent participating
interest and to form a joint venture if it spends $10 million by Dec. 31,
2006.
In November, Pele acquired 41 mining claim units 35 kms south of Timmins
tied to the southern boundary of the former producing Texmont Nickel Mine.
³Pele 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,² Shefsky said.
³Several former and currently producing nickel mines are hosted within the
world-renowned komatiite associated nickel deposits of the Timmins area.
³The 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 led
to an important discovery of nickel mineralization by Mustang Minerals
Corporation.²
At Attawapiskat, where De Beers is expected to announce Ontario¹s first
diamond mine in May, Pele¹s drilling is to test targets identified in the
on-going ground geophysics program it announced in October and December.
Drilling of magnetic geophysical targets is an established method for the
discovery of the known kimberlite pipes in the Attawapiskat cluster.
At least 18 diamond-bearing kimberlites have already been discovered in the
cluster, including De Beers¹ Victor kimberlite pipe which, according to
published information, is advancing toward planned commercial diamond
production in 2007.
Pele¹s Attawapiskat River Diamond Project comprises the largest 100 per cent
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, he said



To: GC who wrote (224)2/4/2004 1:45:19 AM
From: rdww  Respond to of 241
 
Kaiser calls GEM aggresssive in Atta at Vancouver conference

"Another well-regarded junior, Pele Mountain Resources Inc. (TSX.V: GEM), is however moving along a much more aggressive timeline in Attawapiskat than the notoriously methodical Fipke. Pele Mountain is presently drilling some magnetic targets in the hope that Fipkeā€™s theory is far from watertight. Kaiser likes Pele Mountain as a long shot that could surprise everyone with one or more diamondiferous kimberlite discoveries in early 2004. "

excerpted from:

smallcapmedia.com



To: GC who wrote (224)2/9/2004 10:56:07 AM
From: rdww  Respond to of 241
 
NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PELE MOUNTAIN RESOURCES INC.

TSX VENTURE SYMBOL: GEM

FEBRUARY 9, 2004 - 10:45 ET

Pele Mountain Discovers Gold Near Timmins

TORONTO, ONTARIO--Pele Mountain Resources Inc. (TSX Venture:GEM)
("Pele" or the "Company") is pleased to announce that gold
mineralization was intersected during its recent drill program
within its 100% owned Timmins Property, located 35 kilometres
south of Timmins. A limited suite of split core from zones of
alteration and deformation clearly indicate that the recent drill
program intersected significant concentrations of gold. The gold
mineralization is coincident with a ground horizontal loop
electromagnetic (HLEM) conductor that has been outlined within
Pele's Timmins Property to extend for more than 1.6 kilometres.

Selected samples of halved core were collected across relatively
narrow segments within different zones and submitted for assay to
SGS Lakefield Research Limited with a secure chain of custody.
All samples were of split core and only a limited number of
samples were collected from zones that were perspective for gold
mineralization. Assays of the more significant gold results are
summarized in the table below and additional sampling of the four
drill holes will be completed to gain a more thorough
understanding of the gold potential.

/T/

---------------------------------------------------------------------
Hole Line Sample # From To (m) Width
(m) (m) Au g/t
---------------------------------------------------------------------
PM-03-03 3+00S 3725 132.38 133.50 1.12 0.21
---------------------------------------------------------------------
PM-03-03 3726 133.50 134.41 0.91 4.55
---------------------------------------------------------------------

---------------------------------------------------------------------
PM-03-03 3727 134.85 135.98 1.13 0.16
---------------------------------------------------------------------
PM-03-03 3728 135.98 137.59 1.61 0.03
---------------------------------------------------------------------
PM-03-03 3729 137.59 138.56 0.97 0.67
---------------------------------------------------------------------
PM-03-03 3730 138.56 138.95 0.39 0.09
---------------------------------------------------------------------
PM-03-03 3731 138.95 139.68 0.73 1.04
---------------------------------------------------------------------
PM-03-03 3732 139.68 141.06 1.38 0.29
---------------------------------------------------------------------

---------------------------------------------------------------------
PM-03-04 7+00S 3765 142.45 143.00 0.55 1.67
---------------------------------------------------------------------
PM-03-04 3766 143.00 143.60 0.60 0.29
---------------------------------------------------------------------
PM-03-04 3767 143.60 144.51 0.91 0.12
---------------------------------------------------------------------

---------------------------------------------------------------------
PM-03-04 3773 147.45 148.10 0.65 0.13
---------------------------------------------------------------------
PM-03-04 3774 148.10 148.80 0.70 1.47
---------------------------------------------------------------------
PM-03-04 3775 148.80 149.12 0.32 0.41
---------------------------------------------------------------------
PM-03-04 3776 149.12 149.61 0.49 0.18
---------------------------------------------------------------------

/T/

The drill program was originally designed to test the HLEM
conductor that extended southward from the Texmont Nickel Mine
onto Pele's Timmins Property. The HLEM conductor closely
correlates with the basal contact of ultramafic flows that
include spinifex textured komatiite and economic concentrations
of nickel sulphide mineralization on the Texmont property to the
north.

The drilling program completed by Pele has demonstrated that the
HLEM conductor is coincident with gold mineralization and a
limited amount of nickel mineralization was also identified in
samples assayed to date. Spinifex textured komatiites and
ultramafic rocks with disseminated sulphides and massive sulphide
(pyrrhotite and pyrite) were intersected during drilling. Nickel
mineralization within these zones varied from below detection
limit ( less than0.05 weight percent) up to 0.22 weight percent
nickel.

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.

Common Shares Outstanding: 43,403,014.

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.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Pele Mountain Resources Inc.
Al Shefsky
President
(416) 368-7224
info@pelemountain.com
www.pelemountain.com