NW Tech Capital, Inc. (NWTT)

[pennystockwallstreet]

NWTT - Mining 1.4 Moz of gold

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http://www.mbendi.com/indy/ming/gold/am/cn/p0005.htm

"...Three principal deposits have been identified to date (that would have been 2004), including the Boston, Doris (North and Central) and Madrid deposits that have measured and indicated resources estimated at containing some 1.4 Moz of gold."

It looks like the they discover 1.4moz of gold* deposit back in 2004 and left it because the price of gold was so low. Now that Gold is $1,400 per oz they are going after the deposit under NWTT. The key word above is including (these areas). As they say, we are sitting on a Gold Mine!!! - in my opinion.

Do I understand this correctly???

*What does MOZ stand for? Million Ounces (mining)

1,400,000 ounces x $1,400 = almost 2 billion dollars!!!!!!




New Millennium Property:

The gold showings on the New Millennium Property have been sampled by several unrelated parties including the prospectors, the Ministry of Mines and Northern Development, 1179785 Ontario Ltd. (the optionor of the property), and MPH Consulting. In all instances there is general agreement between the sample sets with individual samples being obtained by all the parties that are anomalous to highly anomalous in gold content.

The systematic exploration work completed to date on the New Millennium Property has been confined to the Alcona Mine and the northwest extension. Two other gold bearing zones some distance away from the mine area have been located and sampled with analyses indicating gold values ranging from trace to several ounces/ton. The gold showings also occur in association with extensive alteration phenomena that may be associated with substantial gold deposits.

Drilling and trenching/stripping activities have been undertaken in the Alcona Mine and northwestern extension by Alcona Mines Limited and by Cream Silver/ Valerie, and by early unknown prospectors and in 1999 to 2002 by Joe Riives in the “99” Trench and Trench Lake areas. 1179785 Ontario Ltd. completed four new trenches near the Alcona shaft in August 2003. The trenches were dug using a Kanats T-150 tracked excavator and the exposures were then washed with a Wajax portable fire pump. Trenching exposed a complex series of foliated volcanic rocks, quartz porphyry and numerous sulphide bearing quartz veins. Minor chalcopyrite, pyrite and galena was noted in the veins and to a lesser extent the adjacent wallrocks. Two trenches were dug on the Central Vein immediately southeast of the shaft, and two trenches exposed the Number 1 and Number 2 veins immediately northwest of the shaft. All trenches encountered mineralized veining and sheared mineralized host rocks with analytical results in the range of 0.015 g Au/t (trace oz Au/T) to 5.74 g/t (0.17 oz/T). A total of 23 samples including a combination of channel and grab samples of bedrock were taken during the program.

The 1999 and 2000 trenching by Joe Riives opened up historic trenches discovered in the course of prospecting the current claims. Approximately 200 grab samples have been taken by several parties from various parts of the property including the Alcona area with analytical results in the range of 0.003 g Au/t (trace oz Au/T) to 178.15 g/t (5.2 oz/T). No drilling has been completed in these areas.

The 2003 Alcona Trenches were mapped in detail and marked for sampling by John Wakeford, P.Geo, the geological consultant for the Optionor. Similarly there are no detailed maps of the 1988-1990 trenches in the same area. All of the marked sites were sampled using a portable masonry saw with diamond cutting blades. The sample records are kept in duplicate in a field notebook and a numbered sample book. Two numbered tags were then placed inside the sample bags. These were submitted to the Accurassay Laboratories in Thunder Bay, Ontario for gold and other analyses.

Sample preparation at the various laboratories was done according to standard industry practice by crushing, splitting and pulverizing the core or rock samples to obtain pulps for assay and/or geochemical analyses. Gold determinations were made for the most part using one assay ton portion fire assays with atomic absorption finish (“FA+AA”). A rigorous series of in-laboratory duplicate, reference and blank sample analyses were carried out. One MPH sample was tested for 34 elements by aqua-regia acid digestion and conventional ICP-AES analysis.

MPH is unable to comment on sample security other than for those samples collected by Mr. Coates in September 2002 in connection with the predecessor report. The 6 grab samples were taken by MPH from outcrop, and were continuously in the possession of Mr. Coates from collection in the field until delivery to the laboratory. MPH was given full and unrestricted access to the property, and project database.

To date there are no known records of modern multidisciplinary exploration work outside of the mine area. Even the showings unearthed by Joe Riives could be further opened up and more systematically sampled by channel rather than grab sampling. It is therefore apparent that the New Millennium Property has significant untested exploration potential that may be readily evaluated by as yet untried modern methods. The favourable location of the property vis-à-vis accessibility and exploration expertise should allow such work to be completed inexpensively by Canadian standards.