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 Tue Nov 30, 1999
Excerpt from Bottom-Fish Action for week of November 22-26, 1999
    Publisher: Kaiser Research Online
    Author: Copyright 1999 John A Kaiser

 Excerpt from Bottom-Fish Action for week of November 22-26, 1999

Altoro

Altoro Gold Corp (ATG-V: $0.33) has announced additional trench results for the Ipueiras zone at the southern end of the Pedra Branca platinum-palladium project in Brazil. The trench, which is perpendicular to a layered sill that dips eastward and is exposed as a north-south ribbon that runs for tens of kilometre, averaged 20 metres of 3.5 g/t platinum and palladium. Altoro did not provide a breakdown of individual platinum and palladium grades. Altoro is now on the third hole of a 15 hole diamond drill program totalling 1,200 metres. Much more important than more trench results is Altoro's recent recognition of a chromitite and a serpentinite horizon within the sill that is associated with enriched PGM grades. These marker horizons are proving a valuable tool for mapping the target sill. The dip of the sill varies from shallow to steep. Altoro's goal is to develop an open pit mineable resource with as low a strip ratio as possible, so the shallower the dip, the better. The objective of the current drill program is to establish how the PGM grade varies down dip and along strike. If a pattern of consistent grades better than 3 g/t emerges from the current drill program, it will have big tonnage implications for the sill complex whose outcropping edge has been mapped for over 30 km. Because Altoro has only $750,000 working capital of which US $350,000 will have been spent on Pedra Branca by next March, the outcome of this program will either kick off a major speculation cycle, or send management back to the drawing board. I spoke to David O'Connor on Sunday at the San Francisco Gold Show, and observed a high degree of confidence that the results would not disappoint. I thus continue to emphasize Altoro as a top priority bottom-fish buy. Altoro Tel #: (604) 718-9079.

 
 

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