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This is legitimate drilling in a proven reserves area not too
far from where I live. What a coincidence :_)
We should see 10 cents by Xmas if the drilling stays on track.
I am going to visit sites both sides of the border over the Thanksgiving weekend and will post my findings.
Yahoo !
November 09, 2001 10:02
InterAmerican Resources, Inc. Announces Significant Land Position in the Mazama Porphyry Copper Deposit
MIAMI--(BUSINESS WIRE)--Nov. 9, 2001--InterAmerican Resources, Inc. (OTC:IAMR) announced today that the core assets of InterAmerican Resources wholly-owned subsidiary Sovereign Resources, Inc. ("Sovereign Resources") is the Mazama project.
The Mazama copper-molybdenum porphyry deposit is located in north central Washington on the eastern flank of the Cascade Mountain Range within the Okanogan National Forest. Mazama is situated about 25 miles south of the Canadian border, approximately 120 miles northeast of Seattle, and 12 miles northwest of Winthrop, and the closest town. Access to the property is via well-maintained Forest Service roads.
Sovereign Resources has assembled a significant land position in the Mazama District.
The company's land position consists of 81 unpatented BLM lode mining claims totaling 1,620 acres, covering virtually all of the previously-delineated Mazama ore deposit, as well as areas considered to have excellent potential for discovery of significant additional porphyry Cu-Mo-Ag-Au mineralization. Sovereign Resources is negotiating to acquire one final claim to complete its consolidation of the Mazama District.
During the 1960s and 1970s, Mazama was explored by several major mining companies.
Bear Creek Mining (the exploration division of Kennecott) did the initial exploration work at Mazama, conducting geophysical surveys and core drilling in 1963 and 1964. Brenda Mines briefly optioned the property in 1968. Inspiration Development Co. optioned the Mazama project in 1970 and subsequently drilled 16 core holes (18,517 feet). During the 1970s, Exxon Minerals drilled several hundred shallow (less than 100 ft) percussion holes to the south and east of the main ore zone, seeking to outline a second porphyry deposit.
Quintana Minerals acquired the Mazama project in late 1973, and over the next several years, spent approximately $1,000,000 on exploration and development work, including drilling 14 core holes (12,168 ft). Quintana also completed various pre-feasibility / scooping studies, engineering / metallurgy work and mine plans for a proposed 30,000 ST/day mining and milling operation.
Copper mineralization at Mazama extends to considerable depths: Quintana drill hole No. 17 intersected greater than 0.30% Cu at a depth of 1,900 feet. All areas drilled to date exhibit excellent continuity and consistency of copper grades.
Among the best drill intercepts to date at Mazama are:
Hole No. From To Interval Copper
-------- ------- ------ -------- ------
9 190 ft 992 ft 762 ft 0.39%
15 310 ft 1372 ft 962 ft 0.42%
25 53 ft 1117 ft 858 ft 0.36%
31 86 ft 886 ft 800 ft 0.46%
Quintana Minerals previously reported a mineable (proven + probable) ore reserve estimate for Mazama of 143,718,000 ST grading 0.36% Cu and 0.008% Mo containing approximately one billion pounds of copper and more than 20 million pounds of molybdenum. At today's depressed metals prices, the value of the copper and molybdenum "in the ground" is approximately US$650 million.
None of the prior drilling programs assayed for gold or silver, although recent sampling by Sovereign Resources indicates that the Mazama deposit hosts potentially-significant precious metals credits. Additionally, work undertaken by Sovereign's geologists suggests that the copper grades at Mazama may also be significantly understated due to improper drill orientation.
Mazama is believed to have significant exploration potential.
An independent report prepared in 1991 by Brian K. Jones reportedly estimated the potential within the Mazama mineral system to be on the order of 500 million ST at 0.40% Cu and 0.01 oz Au/ST containing approximately four billion pounds of copper and five million ounces of gold.
The primary porphyry copper mineralization at Mazama extends over a minimum strike length of 5,000 feet SW-NE and remains open along strike; recent exploration work by Sovereign Resources indicates that fault-offsets to the known Mazama deposit may extend the strike length by several additional miles. Overall, copper mineralization at Mazama reportedly extends over a 12-square mile area, and, as such, Mazama may represent one of the largest under-explored copper porphyry systems in North America.
ON BEHALF OF THE BOARD Allan Smith President
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the proceeding discussion, the words "plan", "confident that", "believe", "expect", or "intend to" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components for, and delays in the start of production, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional financing and other risks described in the company's SEC reports and filing.
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com
IAMR should have some interesting news in a few weeks about the resuls of the multiple exploration wells being drill in an area of precios metals proven reserves in Washington State.
This should cause the stock price to explode.
We should be on one of these lists in a couple of months.
From RB :
You are taking the longer view. I got out of BMKS at 5 cents at a loss, then when the 144 selling started and when it hit 1 penny I decided it was worth a lot more than that and got back in for 300K. I still think it's worth at least 5 cents with the present business model if they continue to cut overhead. There is still some 144 stock out there left from the 14 million sold by TBF, at 12.5 cents a share. What these 144 people do will control the stock price in the short term, the current filng to sell 600K expires November 30. I think they would do better as a part of a larger company who would add value to there product line and would apreciate the 20 employees. Goeff and Joy could take whatever stock or cash they get out of it and move on to run more gaming machine startups. The other director Bob is 68 and I sure he like to get out by revovering some of the worth the company had last year. At 5 cents they would each take out a $1 million plus. The rest of the team have minimal stock and would be better off with a newer, larger company.They tried to do this once, with WSMI, but got scammed along with the rest off us.
I wonder if any drilling is being done at all
From RB :
From Washington Geology Sept 2001, I note Washington State has three active gold mining operations. Lamefoot in Ferry county mined 60,000 oz of gold, K-2 also in Ferry County mined 33,900 oz of gold. The third, Crown Jewel,in Okanogan County, mined none, they are held up by water rights and discharge issues.
Wonder where IAMR is drilling ?
From SI :
Generalized Washington State Gold sites:
(too many to troll through on my own but those interested in WA State mining might want to take a look) THESE SITES ARE NOT IAMR SPECIFIC.
http://www.washingtonprospectors.org/
http://vulcan.wr.usgs.gov/Volcanoes/Washington/MineralResour...
http://www.energy.wsu.edu/iof/mining.htm
http://members.home.net/awat11/mines.htm
http://www.or.blm.gov/Resources/Minerals/aml/indexaml.htm
http://www.census.gov/pub/epcd/ec97/wa/WA000_21.HTM
http://www.nwma.org/
http://www.goldpan.com/
http://www.amazon.com/exec/obidos/ASIN/0964330008/inktomi-bk...
http://vulcan.wr.usgs.gov/Volcanoes/Washington/MineralResour...
http://www.premier1.net/~darren/
http://geography.miningco.com/library/maps/bluswa.htm
http://geo-nsdi.er.usgs.gov/metadata/open-file/99-408/metada...
http://www.wa.gov/dnr/htdocs/ger/index.html
http://www.cascadegateway.org/
General Mining Sites:
http://www.osmre.gov/
http://www.mineralpolicy.org/
http://www.ienearth.org/mining_campaign.html
What are the expectations for BMKS? There are two main tracks it can take :
1/ The cost cutting measures they are undertaking now
work and they control overhead and produce a profit.
This would enable them to :
a/ Sell all or part of the company at a fair
price.
b/ Go back to a growth mode with new
products and markets.
Both a/ and b/ would increase the stock price.
2/ They can not control overhead or the bottom
drops out of ZOOM, which accounts for 90% of
their sales and gross profit.
This could result in :
a/ Chapter 11.
b/ Fire sale of assets.
c/ Reverse split to attempt to bolster
stock price.
Any of the above will result in a further decline
in the stock price.
The 10QSB filing and contents leads we to bet my
money on 1/. They will control overhead and gradually
emerge from the pit they dug for themselves.
My stock price target is 5 cents by March.
Access to Management
Can an individual investor pick up the phone and talk to Microsoft's Bill Gates or Oracles Larry Ellison? No. However, it is often possible to talk with senior management teams at micro and small cap companies such as BMKS. Geoff is more than willing to talk to investors because they are still trying to generate exposure and build a base of support among the investment community at-large.
Successful small cap company management teams realize the importance of the individual investor to their long-term success.
Any new IAMR rumors?
We now know where we are drilling, Okanogan County, WA
Nice little rally at the end of the day.
Copper, gold and nickel, even a little cobalt thrown in for good luck. I just want to get going
When does IAMR go for the Gold ?
Hope we can catch genuine gold fever soon
Now lets the "first class" mineral deposits going
No interest so far after thay made the filing deadline
Wonder why? could be gold fever
Gold fever, we are taking off, lots of volume
He is a real gold bug, hope IAMR will give him something to be buggy about.
The filing tomorrow should start the turn around.
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I have not figured out how it comes out the way it does
Chucka is something of a gold freak, when you can figure out what he means
They may have stumbled into something
It gold I tell you, Gold!
Lots of talk and rumors about gold ?
I hope BMKS files this week and it moves up. I am out
on a limb on this one
Hope you are not down or broke after a long run of losers.
Hope you cut and ran on a few.
Very good now buy 1 million shares
Two week filing extension ends 10/12/01
I thought this was a pump and dump, no pumping yet?
Thought I had to smoke you out
Does any one know where JMHollen is?
For a P&D stock, IAMR has no pumpers. Pumpers of the world unite
Geoff gets his wrist slapped for fibbing
Thursday September 27, 3:41 pm Eastern Time
Brandmakers and its CEO settle SEC charges
(UPDATE: adds SEC lawyer quotes)
WASHINGTON, Sept 27 (Reuters) - Brandmakers Inc. (OTC BB:BMKS.OB - news) and its chief executive have settled charges that they issued false press releases, including one that allegedly said the vending-machine and coin-operated game manufacturer made a laser-like pool cue.
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The Securities and Exchange Commission said on Thursday that Brandmakers, based in Lawrenceville, Georgia, and CEO Geoffrey Williams, 56, agreed to cease and desist from the alleged illegal activity.
They were not fined because ``we felt that a fine was not necessary in order to resolve the case,'' SEC attorney Rich Murphy said.
Williams and Brandmakers' lawyer did not immediately return telephone calls seeking comment. Neither the executive nor the company admitted or denied any wrongdoing in settling the case.
Brandmakers' stock is currently trading for less than a penny on the Bulletin Board, down from a 52-week high of 15 cents.
The SEC claimed that on March 15, 2000, Brandmakers issued a press release claiming it exclusively made Laser Q, a pool cue that projects a red dot on a cue ball to show players where the tip of the cue will strike.
In fact, the SEC said, a company in Taiwan manufactured the product. Brandmakers had not sold any Laser Qs despite its claim in the press release that the entire May shipment was sold out, the agency said.
The press release, which Williams approved, also said Brandmakers had hoped to sell $8 million to $12 million worth of the cues in its fiscal year beginning July 1, 2000, but there was no reasonable basis from which to make that prediction, according to the SEC.
Williams also approved an Aug. 21, 2000, press release announcing that Brandmakers had reached a binding agreement to sell a controlling interest to a public company in exchange for shares in another company.
``Although Brandmakers claimed that the agreement was binding, the public company only signed a letter of intent, not a definitive agreement,'' the regulatory agency said.
Moreover, Brandmakers itself was not a part of the proposed transaction since Williams, his wife, and a third person were to tender their Brandmakers shares to the public company to complete the deal, the SEC alleged.
Williams has been CEO since he founded the company in 1992. He and his wife control 50.8 million shares, or about 41 percent of Brandmakers' stock, according to regulators.
Up today, is this it?
BMKS will file their 10KSB by Friday.