acs

Mining
continued from page C1

They couldn't
Zukowski said.

“For a hundred years the
prospectors didn’t have the
technology we have today.
Working with pick and shovel,
they have not even scratched
the surface.”

Zukowski believes “there's a
lot of low grade tonnage po*
tential” in the hot spots
marked for the 1991 drilling
as a result of dispersal effected
by ice age glaciation.

“It was (probably) rafted by
the glacier for miles,” he said,
noting that geologists on the
Snowwater project speculated
that mineral depots had been
moved further afield than was
previously believed.

However, in the past
Snowwater Resources drilled
120 holes and came up with
nothing. Most recently, Teck
Corp. sampled Snowwater’s
Whitewater workings in 1989,
unsuccessfully.

But Zukowski noted that
Teck has returned the White-
water Property to Snowwater
by mutual agreement, as
Snowwater management
“elected not to renegotiate the
original terms.”

If Snowwater stock has
been trading on the VSE at 50
cents (high) to five cents (low)
over the last year, a recently
released company prospectus
listed the current price (as of
July 31) at 26 cents per share.

At present, Snowwater is
located on the site of an old
Nelson area mine called
Whitewater.

Besides the advantages of
modern mining technology, he
said, the local area possesses a
good infrastructure to support
mining activity. New roads
and plentiful power resources
are in place for a mining suc-
cess, said Zukowski, who
started out as a small prospec-
tor 25 years ago.

Zukowski, born in Alberta,
lived in Creston for four years
before moving to Nelson in
1960. In his earlier days, he
worked in forestry and
prospected as a hobby. Since
then, the activity has become
“serious business,” said
Zukowski, a Castlegar resi-
dent for over a year.

“When you're running an
exploration company, you’ve
got to go out there and find an
tore) body for the sharehold-

before,

But he insisted that money
is not his motivation, at least
not as much as his love of the
mountains and enjoyment of
the outdoors.

Zukowski says he realisti-
cally doesn't expect his compa-
ny to find a big bonanza-type
high-grade vain, the mother-
lode.

_ But he has high on ig fora

mining
over, by far it’s not over,” he
said.

UtiliCorp expects better third quarter in 1991

UtiliCorp United has announced that
third quarter financial results are ex-
pected to exceed those of the 1990 third
quarter.

For the third quarter ending Sept. 30,
UtiliCorp, the parent company of West
Kootenay Power, projects revenues of
$198.3 million, versus revenues of $163.4
million in last year’s third quarter, the
company said in a news release. Income
from operations is expected to be $35.8

million, compared to $27.9 million in the
1990 third period. Primary earnings per
common share are expected to be 36
cents on net income of $12.3 million, ver-

sus earnings per share of 35 cents on net
income of $10.1 soe nor verte All
figures are in U.S. dollars.

For the first nine months of 1991, Util-
iCorp expects revenues of $704 million,
versus $626 million in the same period
of 1990. Income from operations for this

year’s nine-month period is projected at
$125.9 million, compared to $99.2 million
in the 1990 period. earnings per
common share for the 1991
period are expected to be $1.46 on net in-
come of $47.2 million, compared to earn-
ings per share of $1.37 on net income of
$37.9 million in the prior year’s period.
Based in Kansas City, UtiliCorp pro-
vides gas and electric service to 828,000
customers in eight states and B.C.

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