via Google Archives - Regina Leader Post, Sept. 14, 1983

Joint Ventures

"Partridge, in an interview Tuesday, took exception to the frequent habit of people interested in the area of lumping together all of the prospects. He said the amount of drilling on the Komis property is about 10 times the volume of drilling on all of the other properties combined, and $2 million has been spent on the property in the last two years.

Though there have been suggestions that several properties iin the area could be brought into production through use of a central mill, Partridge noted the Komis work has defined an ore body of 3.3 million tons of 0.15 ounces per ton, "which is more than ample to be a totally independant operation.""

source: http://ow.ly/id0cH

By now, the Komis deposit has 6.1 million tons total grading ~7g/t. This results in roughly 1.4 million ounces in the surface open pit, without counting the sub-surface deposit, which probably extends to the technological limit of mining at depth.

This is enough to operate a 2000tpd mill for 8,35 years, while the EP Zone stockpile can be relied on for two years using processing mixed from EP Zone stockpile, Komis, Roy Lloyd.

In news releases and quarterly reports, they will draw only a certain amount from Komis for a period of 2.25 years to be processed at Jolu and stockpile the rest while a larger mill is under construction.

It takes two years to build a mill, so processing can take place at Jolu as the larger processing factility is being built.

Komis is by far and away the biggest deposit so far in the La Ronge Gold Belt, but you wouldn't know it from the information provided.

Waterton was to provide financing.

The irony of all this is we are in a bear market for equities while we are in a bull market for gold.

Other archives:

http://ow.ly/id2Lg

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-F6