Here is a Feb.17th article which I beleive confirms findings. January Assay results were updated and confirmed by KILBORN SNC LAVALIN. (Tell me if I'm reading this wrong. Wasn't this confirmed in Feb. by the most reputable Canadian mining Analysts?)
BRE-X Minerals Ltd. Affiliate of Bresea Resources Ltd. Announces a 13.6
Million Ounce Increase in the Busang Gold Project Resource Calculation
PR Newswire - February 17, 1997 12:39
FINANCIAL BXM. BXMNF BSR. BXO. MNG V%PRN P%PRN
JAKARTA, INDONESIA, Feb. 17 /CNW-PRN/ - BRE-X MINERALS LTD., (T-BXM,
ME-BXM, NASDAQ-BXMNF) a member of the BRE-X Minerals Group of Companies,
announced today that an updated resource calculation has been completed by
KILBORN SNC LAVALIN.
The upgraded resource was calculated from drilling results available as
at January 15 using assay results of 268 holes broken down as follows:
1. Busang Central Zone - located north of section line SEZ-1 and
including SEZ-1. Total number of holes - 106
2. Southeast Zone I North - located between section lines SEZ-4 and
SEZ-39. Total number of holes - 45
3. Southeast Zone I South - located between section lines SEZ-44 and
SEZ-69. Total number of holes - 117
The current resource in all categories, as calculated by Kilborn, stands
at 70.95 million ounces of gold, with much of the increase occurring in the
measured and indicated category, now 35.15 million oz, which was previously
reported in our December 3 press release at 23.03 million ounces. It should
also be noted that the average overall grade has increased from 2.28 g.p.t. to
2.48 g.p.t.
The database for the Southeast Zone I South, measuring 850M wide x 1,350M
long, consists of a total to date of 117 holes located on section lines SEZ-44
to SEZ-69 inclusive, at approximately 125M line spacing. An additional 50
holes, which are still outstanding, will be utilized to arrive at a final
resource calculation within this block based on geologically-defined oreshoot
delineation. The final resource calculation should be available by the end of
March. The Southeast Zone remains open in all directions except to the
Northwest.
The resource tabulated below was calculated using a cutoff grade of 0.47
grams of gold/tonne and represents recoverable grades as cyanide extraction
was used in the analyses.
METAL CONTENT
CATEGORY ZONE TONNES AVERAGE 1000 MILLION
GRADE GRAMS OUNCES
GRAMS/TONNE
Measured and Central 32,117,800 2.38 76,440 2.46
Indicated
SEZ 4-29 23,960,000 2.85 68,286 2.20
SEZ 44-69 376,314,000 2.52 948,310 30.49
Subtotal 432,391,800 2.53 1,093,036 35.15
Inferred Central 3,184,600 2.56 8,153 0.30
SEZ 4-29 90,860,000 2.84 258,042 8.30
SEZ 44-69 362,839,000 2.33 845,415 27.20
Subtotal 456,883,600 2.43 1,111,610 35.80
TOTAL 889,275,400 2.48 2,204,646 70.95
The classification of resources was based on the ``Principles of a
Resource/Reserve Classification for Minerals'' by the U.S. Bureau of Mines and
the U.S. Geological Survey (Geological Survey Circular 831)
Measured - Blocks located within 25 metres distance from the section
line with grades estimated from at least 3 holes.
Indicated - Blocks located within 25 metres distance from the section
line with grades estimated from at least 2 holes.
Inferred - Blocks located within 125 metres distance from the section
lines.
Drilling recommenced on January 5, utilizing 3 diamond drillrigs engaged
on section lines SEZ-71.5 and SEZ-74, as well as one RC rig.
ON BEHALF OF THE BOARD
DAVID G. WALSH
President & CEO
SOURCE Bre-X Minerals Ltd.
CONTACT: David G. Walsh, President & CEO, 403-543-7070, Fax:
403-543-7085, E-mail address: brex(at)netcom.ca, Website: www.bre-x.com |
