RE READ THIS last part...Freewest is the QUARTER MILL WILD CARD I bet:
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An additional goal is to continue step-out drilling from the known PGE-nickel-cobalt-copper resource to establish its limits and thereby significantly expand the resource base for near-term open pit and underground mining on the property. Our independent consultant has reported that " The area has reasonable potential to develop several lenses of ore with probable grades of 2% copper, 2% nickel, 0.15 ounces per ton platinum, and 0.3 ounces per ton palladium … Each lens could produce approximately 300,000 to 1,000,000 tons of ore, based on the size of the (drilled) mineralized area at the mine." The ultimate size of these near surface lenses will be tested by our step out drilling program.
We will also be defining the overall potential for cobalt, which locally attains high grades and rhodium and gallium which have been reported but whose concentrations have not been defined by sampling and assay work in the past.
In 1998, Conquistador also began exploration for Platinum Group Elements (PGE’s) to augment its gold exploration in Colombia. We have now expanded this exploration to North America where we are negotiating for properties with known resources of PGE’s. The Company is presently in discussions with several interested parties in order to prepare and commence an exploration program on this, as well as other PGE properties we either hold or for which we have a license pending. However, any program will be subject to the Company’s successful completion of its current funding efforts. This program represents a strategic augmentation in precious metal exploration programs into an area where the underlying commodities, PGE’s, continue to show strength.
On Behalf of the Board of Directors
May 25, 1999
________________________________
Raul J. Madrid, CEO/Chairman
THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THIS NEWS RELEASE.
BELOW is Bunkerville":
royal-standard.com
Royal Standard Minerals, Inc.
For Immediate Release
C.U.S.I.P. 780919 106
S.E.C. Filed: Form 20F Montreal Exchange
Symbol: RSM
Listed: S&P and Moody’s
RSM and Freewest Resources Canada Inc. to Jointly Explore Southern Nevada Platinum-Palladium Project
Heathsville, Virginia, February 23, 2000: Royal Standard Minerals Inc., (ME-RSM) is pleased to announce that in a continuing effort to advance its platinum-palladium program Royal Standard Minerals Inc. has completed an option agreement with Freewest Resources Canada Inc. (ME-FWR). This follows a recently completed option agreement with with Falconbridge Exploration U.S., Inc. (please refer to RSM's February 14, 2000 press release) for its Bunkerville Project, located in Clark County, Nevada. Falconbridge has contributed 60-square miles of AEM and magnetics coverage with a number of untested EM conductors and geochemical anomalies that need to be evaluated. The completion of a second option agreement with Freewest will help accelerate exploration and development potential of RSM's property position in the Bunkerville District. Freewest has an option to earn a 50% interest in RSM's interest in this project, Falconbridge has an option to participate for up to a 49% interest in this project.
The terms of the Freewest agreement involve a 2-year option to earn a 50% interest in RSM's interest in this project, subject to regulatory approval. The year 1 agreement includes a minimum expenditure of US $100,000 in years 1 and 2 and cash payments of C$25,000 per year for the first two years. Freewest has agreed to invest US $250,000 as part of a drilling commitment to complete the joint venture earn-in. Freewest will commit to a 1-year program with an option for the second year. RSM will be the operator during the exploration stage.
The Bunkerville district includes several Cu-Ni-PGM showings and prospects with minor production in the early 1900's. Published reports of grades from these showings indicated 1.5% Cu, 1.09% Ni, 0.13 – 0.25 opt Pt + Pd and 0.015% Co. The mineralization indicates significant rhodium values of up to 1 gram in drill core and surface rock chip samples.
Mineralization in strongly-fractured and faulted, mafic-ultramafic dikes is considered magmatic with a hydrothermal component. The near-surface showings and deposits are characterized by sulfide stockworks containing disseminations, cross-cutting veinlets, and net-textured pyrite, chalcopyrite, and Ni-PGM- bearing pyrrhotite and magnetite. Sulfide minerals are associated with strong argillic alteration and silicification. Airborne magnetic and EM data suggest that a structural zone is the locus for several large, altered dikes and a source pluton which could host a Sudbury-type offset dike environment for magmatic and remobilized hydrothermal Cu-Ni-PGM mineralization.
The Company has staked 80 unpatented mining claims within the Falconbridge airborne block. This ground controls most of the favorable structure and important structural intersections within the fault zone. Detailed ground follow-up work is expected to begin immediately.
Royal Standard Minerals cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of mineral prices, product demand, market competition, imprecision of mineral estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.>>""
Chucka
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ChuckaFIRST to properly IDFACTsIMHO |
