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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: koan	7/22/2007 10:06:27 AM
	Read Replies (3) of 78417

Operation was a piece of cake. I come back and my CMV is smoking. Might want to look at it for Monday morning. Coronation Minerals Inc (C-CMV) - News Release Coronation starts Wellgreen mine drilling 2007-05-30 12:57 ET - News Release Shares issued 55,558,136 CMV Close 2007-05-29 C$ 0.17 Mr. Peter Holmes reports CORONATION MINERALS INC.: DRILLING RESUMES AT WELLGREEN MINE PROPERTY Coronation Minerals Inc. has started diamond drilling on its Wellgreen mine property in Yukon territory. Hole WS-06-153 has been completed and the company is awaiting the assay results. This hole was started in late 2006 and the assays down to 480.67 metres were reported in Stockwatch March 23, 2007. The final depth of this hole is 561.14 metres. Drilling has commenced underground to explore the deposit at depth. Surface trenching, mapping and sampling on the basically unexplored eastern portion of the property are under way. This area covers approximately 2.3 kilometres of poorly exposed Quill Creek complex. The Wellgreen mine property is located 317 kilometres northwest of Whitehorse, just 10 kilometres off the Alaska Highway. A great deal of surface and underground work has been carried out on the property between the initial discovery in 1952 and limited mining in 1972 and 1973 by Hudson Bay Mining Company Ltd. Three zones of copper-nickel-platinum-palladium-cobalt-gold have been outlined on the property. Probable and possible resources (historical) are calculated to be 50.03 million tonnes grading 0.35 per cent copper, 0.36 per cent nickel, 0.54 gram per tonne platinum and 0.34 gram per tonne palladium (Preliminary Feasibility Study, Watts, Griffis and McQuat Ltd., April 21, 1989). Caution should be used when evaluating these resources as they were calculated prior to NI 43-101 existing and a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. The Wellgreen exploration and drilling program is being carried out under the direction of Rory Calhoun, a qualified person within the meaning of National Instrument 43-101. Mr. Calhoun has reviewed the exploration results contained in this news release. Core is split, with half sent to ALS Chemex (Vancouver) for preparation and analysis using fire assay. The company maintains an archive of half-samples and a photographic record of all drill core for future reference. Sample blanks, duplicates and recognized standards were inserted into the sample stream at regular intervals.

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