Corporate Vision Inc. Subidiary, CVI Resources Inc., Announces Preliminary Test Results of Gold Reserves
Monday August 2, 10:05 am Eastern Time
TULSA, Okla.--(BUSINESS WIRE)--Aug. 2, 1999--CVI Resources, Inc. a majority owned subsidiary of Corporate Vision Inc (OTC: CVIA - news) President Craig Treiber has released the following update on the status of the Utah Gold Project: Site testing on the Utah Gold Project has been ongoing and is expected to continue for at least another month.
Based upon the preliminary and ongoing assay results as received to date, it is anticipated that recoverable reserves on site will be able to add well in excess of $15 million to the overall CVI asset base. An independent, third party professional geologist is expected to provide a certified report confirming this data by mid-September.
Site recoverable reserves on the first two placer claims are now estimated to significantly exceed initial tonnage figures, with a third placer claim yet to be evaluated. Testing has also determined the gold may be extracted and recovered using conventional methods which will not require the use of any hazardous chemicals in the recovery process. These determinations have been influential in the decision to proceed with this operation.
Over the next month, CVI Resources will be focusing on continuation of ore body testing and operational planning, as well as the preparation and submission of required permits and applications to setup and commence on site pilot test plant operations. Concurrently, we will be acquiring specialty equipment to expedite commencement of on site operations.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of Corporate Vision Inc. to accomplish its stated plan of business.
Although Corporate Vision believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate.
In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Corporate Vision or any other person that the objectives and plans of Corporate Vision will be achieved.
For more information please contact Keith Anderson or Craig Treiber at 918-748-3603
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