November 4, 1998
THE WINTERS COMPANY REPORT COMMENTS POSITIVELY ON THE SULLIVAN COPPER PROJECT
JABA Inc. is pleased to announce that The Winters Company independent engineering report on the Sullivan in situ copper project is now completed and has been filed with the Alberta Stock Exchange.
The extensive scope of The Winters Company (TWC) report (84 pages, more than 16,000 words, 16 colored maps and diagrams, and 7 tables) precludes its description in detail here. However, there are five key items that are worthy of comment.
The report states "...our review of existing environmental conditions and the requirements for obtaining the necessary environmental permits for both the Sullivan North and the Sullivan South projects indicate that there are no known barriers to successful permitting of either project. In situ mining at these locations presents a set of permitting and compliance issues that are similar to those which have been successfully dealt with at other Arizona in situ mining projects."
TWC has reviewed the geologic block resource models of tonnage, grade, and pounds of contained acid soluble copper submitted to them by JABA and found them to be reasonable order of magnitude estimates for the Sullivan project and "...found a high degree of geological accuracy in this model" (Sullivan North).
TWC states that drilling to date has not closed off mineralization on the Sullivan north ...which "...is approximately 7,000 feet long by 1,500 feet wide and is open to the north and south".
TWC continues "...underground mining may well be feasible locally in the... Sullivan North and Sullivan South deposits".
Finally, the report also states that in the opinion of The Winters Company, both the Sullivan North and the Sullivan South zones are candidates for a feasibility study for in situ leaching, although further leach testing will be necessary to determine acid consumption and recovery efficiencies.
In the meantime, the Company is in discussion with several interested parties with a view to securing a joint venture agreement on this project in the near future.
On behalf of the Board of Directors,
James A. Briscoe
Chief Executive Officer
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
--
Mardee S. Briscoe
Vice President/Business Mgr.
JABA (US) Inc.
2766 N. Country Club Rd.
Tucson, AZ 85716
(520)327-7440 voice
(520)327-7450 fax
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