GOOD READING and the following was posted by Goldlocator on another board..

I would not read too much into the news release. Junior mining companies option property, do exploration programs and almost always, don't find enough resources to develop a mine. Option agreements almost always require the juniors to return the claims to the original holder before the expiry date of the claim(s).

I read only a couple of things into this. SYH decided not to throw more good money after bad. They will spend their cash on the best projects they have. They also may have looked at the possibility of doing a financing but decided against it right now. To raise enough capital would require a large dilution of the company. Management probably decided to wait until the share price is up before doing that.

As for the property that was returned to the original owners, it does not mean there is nothing there. After all, the Hemlo ground was held by 15 different prospectors over the years. Five mining companies optioned the ground at different times. It turned out to be pretty good after Pezim got his hands on it.

For anyone interested there is an excellent history of the Hemlo deposit in a book called Geology of Gold in Ontario (Miscellaneous Paper 110). I have a hard copy but it may be available on line on the MNDM website.

A little more history. A geologist named Thompson did a report on the Hemlo area in the 1930's. He recommended looking for base metals in the Manitouwadge area and gold near Hemlo station. He also did a report in the Straw Lake area north of Fort Frances. Only the Straw Lake Beach Mine produced any gold that I know of. One company has much of the ground staked around it. I won't mention the company name as I don't want to be called a pumper. Maybe one of his recommendations in that area will work out as well as Hemlo.

GLTA

MY NOTE :-)GOLDLOCATOR is a person..... in my opinion ..that passes his time either by attempting to ...or by finding "Gold" or other minerals..

Ie.. PROSPECTOR