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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Tony C. who wrote (484)10/15/1997 1:42:00 PM
From: Winston Kim   of 12617
 
GRASS VALLEY, Calif., Oct 15 (Reuters) - Brush Creek Mining
and Development Co Inc said Wednesday it encountered a high
BCMD taking off

grade enrichment in pillar number one of its lower

Brush Creek
Mine.
The gold ore in one segment of the pillar was rich enough
to be taken from the mine in 5 gallon buckets that were deemed
jewelry-grade, the company said.
It said negotiations are in progress with a wholesale
jeweler who has expressed interest in buying the gold at well
over the spot market price.
Pillar no. 1 is one of 10 pillars believed to exist above
the Cassidy level of the lower Brush Creek Mine in the
Alleghany/Downieville district of Northern California.
"We are very pleased to have encountered our first pocket
of high grade ore," chief executive James Chapin said.
As is normal in the district, "much of the high grade that
we extracted was running over 500 ounces per ton. While this is
a very exciting development, on average our more modest goal is
that the pillars will produce one ounce of gold for every ton
of ore milled."
The company also said the 2211 raise which is being driven
through the no. 2 prospective ore block towards the no. 4
pillar had encountered enriched zones which contained visible
gold. The raise is currently at the level of the no. 4 pillar.
The company is drifting off the raise and expects to
encounter the no. 4 pillar this week.
Arthur Smith, Brush Creek's staff geologist, said "As we
drift toward the pillar, we are encountering significant galena
which is known to be the best indicator mineral for gold in our
district because it precipitated contemporaneously with the
gold."
Brush Creek said it has encountered favorable indications
that a parallel ore shoot about 300-500 feet to the south of
the Golden Gate ore shoot it has been exploring for may exist.
Stan Griffith, Mine Superintendent, stated, "Certain of our
preliminary indicators suggest that perhaps the parallel ore
shoot that we now believe exists in the lower Brush Creek may
be nearly as high grade as the Golden Gate ore shoot that we
are currently mining."
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