The IPUN property is actually IPUN Island which is owned by Medinah Gold and is located near 45 Degrees of LAT. many miles offshore from the Chilean mainland. Sounds like Medinah Gold might sell the island or perhaps JV with Cerro Dorado and/or other parties.
I have been informed that a deal is pending "very near" on Ipun Island project (between CDCH and Medinah Gold).
**********************************************************************
BNA Mining News - Santiago, Chile:
*Cerro Dorado Plans Lobo Solitario, Ipun Work - Chile
June 16, 1999
Salt Lake City-based minerals company Cerro Dorado (Nasdaq: CDCH) plans to conduct a geophysical survey over its 268ha Lobo Solitario gold property 60km northwest of Santiago, Chile, over the next few days, Les Price, a mining consultant with the company told BNA.
A consulting firm will then evaluate the survey and recommend the next
stage of exploration.
Cerro Dorado's sample results from Lobo Solitario, a historic mining
area, have included 126.45g/t over 3m. The property contains 37 known
vein structures and visible gold, he added.
Meanwhile, the company plans to resume exploration at the 20km by 10km
Ipun Island gold prospect from September, when the southern hemisphere
spring begins. Ipun is 1,350km south of Puerto Montt in the Los Chonos
archipelago, southern Chile.
A preliminary, four-hole survey confirmed sedimentary reserves with two
rivers carrying gold to the sea. Again, the gold was visible, said Price.
Source: BNA
********************************************************************** |
