CONSOLIDATED SILVER TUSK MINES LIMITED ("CKS-V;CSITF-L")
- KBU Property IP Survey Completed; Assay Reports; Exploitation
The Board of Directors of Consolidated Silver Tusk Mines, Ltd. (CKS),
takes pleasure in making the following announcements.
Karva Bukit Utama (KBU) Property I.P. Survey Completed.
The Company completed an I.P. Survey on their KBU property during the
first week of October. Ten grid lines for a total of 6,325 meters were
surveyed in 12 consecutive days. A geophysicist processed each day's data
and the resulting preliminary pseudosections (profiles), as expected, show
many previously unknown (and known) geological features.
The field portion of the project was completed on schedule and the
entire project will come in under budget. The final report from the
geophysicists will be ready within three (3) weeks, at which stage
the completion and availability of the colored pseudosections, geophysical
maps and geophysicists reports will be immediately utilized to identify
recommended drilling targets. A drilling program is
planned and will commence as soon as possible thereafter.
Assay Reports.
During September, the company proceeded with assays on their KBU
property. Promising results have been returned from four random auger
samples taken from down the valley in the old KBU tailings areas. Samples
were recovered from a depth of approximately one meter. Results were as
follows. //st Top of Valley: 4.15 g/t Au 603 g/t Ag
2.83 g/t Au 342 g/t Ag
Bottom of Valley: 2.16 g/t Au 241 g/t Ag
1.36 g/t Au 204 g/t Ag //et
These values show an expected drop off with distance away from the
outflow source. To estimate the amount and value of this material, it is
planned to grid sample the area. It is further planned to use these old
tailing areas in the near future for new tailing deposits. More
comprehensive results are expected from ongoing exploration in the near
future. Exploitation.
The company's mining management has identified at least two areas for
immediate exploitation by means of "Continuous Bulk Mining". South Gate
Trench in particular presents immediate exploitation capabilities. This
area consists of 132,000 tons grading 3.53 g/t Au and 230 g/t Ag, an area
approximately 100 meters long, 30 meters wide and 20 meters in depth. This
specific area could be mined with a minimum of preparation, and yield 265
days of production at a rate of 500 tons per day. The company plans to
commence with their drilling and exploration activities prior to this
year's end. Mergers/Acquisitions.
The company has entered into preliminary negotiations with Tri-Star
Gold Corporation for the purpose of establishing the feasibility of a
merger. Tri-Star Gold has several gold properties in Ghana, Africa, and is
currently conducting several drilling programs on these properties, It is
the objective of CKS to complete a full due-diligence on the viability of
such a transaction. These negotiations are the first of several planned by
the Board of CKS in order to create for the company
a more diverse asset base, together with corporate growth, and afford
shareholders additional investment security. CKS has also commenced with
preliminary discussions with mining operators in Indonesia that have shown
an interest in acquiring CKS's expertise and the use of equipment to
process mined materials. Under acceptable terms, such Joint ventures can be
lucrative ventures, affording CKS additional capital cash flow.
The Board of Directors looks forward to reporting back on several of
the above-mentioned subject matters in the near future. Please visit our
new web site for weekly/monthly reports oil the company's activities, at
www.silvertusk.com.
TEL: (561) 883-5728 William Van der Merwe, Vice President-Finance &
Administration
TEL: (604) 602-1088 Vancouver office Internet: www.silvertusk.com.
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