Early indications from ore samples at shallow depths have indicated ore
grades well above the expected leves at this site, but we will remain patient.
There are eight known deposits in close proximity which have been tested to the point where an Indicated Ore
resource has been delineated.
Cieneguita - According to estimates of the previous operator, the Cieneguita property has a total drill indicated ore
resource of 250,000 ounces of gold, of which 100,000 ounces are in oxide and mixed ores.
in his 43-101 report, the Aguas Tenidas mine currently has measured and indicated ore
resources (i) of:
As previously announced, the Aguas Tenidas mine currently has measured and indicated ore
The tonnages and grades are shown below: Duna Choapa Norte La Barca Indicated Ore
Incorporating these reductions, the ore body discovered to date contains approximately 70,546 tons of indicated ore
at an average grade of three-quarters of an ounce of gold and five ounces of silver per ton.
Two of the properties contain in excess of 6 million tons of drill indicated ore
grading overall 1.
Hewlett Mineral Management further reports the indicated ore
reserves in these High Grade Ore zones to be 1,453,221 tons, using the grade of .
Favourable underground drilling results and a preliminary ore reserves update by the Company's independent mining consultants at La Camorra are expected to result in the recovery of a significant percentage of the previously reported loss of Measured and Indicated ore
reserves as of January 1, 1996.
While the new ore reserves update will not be finalized until the first quarter of 1997, management anticipates that a significant percentage of the reported loss of La Camorra's Measured and Indicated ore
reserves as of January 1, 1996 will have been recovered during 1996.
Diamond drilling, both underground and surface, totaling some 77,000 feet, has indicated ore
reserves of 210,500 tons grading 0.