In discussions with 2 friends in the mining business one point kept surfacing in a couple of conversations. It is the premis for why PEM was formed. The genesis is the estimated 4 to 8m oz of placer mining. Then, the resultant "tailings" left behind which have gold ore in them, followed by the soil sampling, overlayed by geo-physics, etc. A map of the placer mining is well established from one end of the OSZ to the other. Given that this is non-glaciated, and if 4 to 8m oz were found at or mostly very near the surface, then the placer mining only scratched the surface of what was left behind undiscovered. One friend said he wouldn't be surprised if the placer mining only took out" less than" 10% of the gold that remains beneath and to the sides of what was reportedly taken. The easy pickings was "the low hanging fruit" which was much more easilly retreived, especially when most placer mining was done by looking for the visible nuggets. What lies beneath and to the sides of what was recovered decades and a century ago is highly likely 10 times more than has already been mined by hand. Cut off grades, minability issues, volume, concentration, risks, costs, and assays, etc., not withstanding, the juniors and majors who are looking at PEM, according to one mining company owner friend, are likely considering the above "simple thought" as a part of their overall initial annalysis. This simple calculation alone would have some impact on decision making by those coveting PEM's land package. So, as confidential agreements were signed with possible suitors, this simple basic consideration would not have evaded their thinking and discussions. 40 to 80 million ounces of gold is within the realm of possibility if the 4 to 8 million placer mined ounces is to be believed. For me, I'll believe it when I see it. For now, it remains a simple basic consideration for the OSZ, PEM and possible suitors. In the interim, drill, drill, drill and prove, or disprove, the hypothesis of many.

marwal