LC,
We just made the pesto. It was fantastic.
This will not sit will with FR:
First Majestic drilling lacks mine-maker at Dios Padre
2006-09-06 18:11 ET - News Release
Mr. Keith Neumeyer reports
DIOS PADRE SILVER MINE UPDATE
First Majestic Resource Corp. is providing its preliminary results from the recently completed exploration and development program at the Dios Padre silver mine, Sonora, Mexico.
The program consisted of 17 diamond drill holes totalling 2,216 metres, review of historical geological data, mapping and resource definition. In addition, a geologic survey of the 285-hectare property surrounding the main mine area was completed to evaluate four different geologic anomalies to determine the possibility of the existence of other mineralized bodies that may increase the potential of the project.
To date, the program has not been definitive in outlining sufficient economic resources in order to make a positive production decision. Due to a lack a historic mining plans and information, a number of the holes drilled, which were anticipated to intersect ore, in fact intersected old mine workings -- areas that were previously mined. In addition, large areas of backfill were encountered, which made drilling difficult and indeterminate.
The company is awaiting an internal geological report that will review the full program and address the entire property. This report is anticipated to be received by management within four weeks.
The company is evaluating the feasibility of this project in view of the fact the potential open-pit area may be decreased relative to earlier estimates. The extent and the distribution of the historical mine workings will also be addressed. The above factors will determine whether or not the company believes the Dios Padre project has a place in the portfolio of robust, advanced, near-term production projects the company has assembled to date.
In addition to the Dios Padre project, the company is reviewing all its exploration and development projects for the purpose of determining whether they meet the company's criteria of being capable of becoming near-team production projects. As a result of the company's tremendous growth and the production expansion plans under way, focus on projects with the greatest potential is required to meet corporate objectives.
The company intends to publish an updated National Instrument 43-101 report outlining this program and defining the resource and/or reserve estimates if in fact a decision is made to progress to the next stage.
We seek Safe Harbor.>>>>>
Tom |
