Acer updates Au-Online.com venture
Acer Capital Corp ART
Shares issued 9,672,500 Mar 16 close $0.30
Fri 17 Mar 2000 News Release
Mr. Grant Forbes reports
Management is not aware of any material changes in the company's affairs
which have not been previously reported, nor is it aware of any reason for
the recent increase in trading activity and share price.
The company continues to pursue its recently announced e-commerce
initiative. Further to recent news releases dated Feb. 17 and March 2,
2000, management advises that in conjunction with Rio Minerals, of
Vancouver, B.C. and Reno, Nevada, the company is advancing the
Au-Online.com business venture. Rio Minerals Ltd. is a privately held
mineral-exploration company whose ownership is independent of and at
arm's-length to Acer Capital Corp.
Au-Online has negotiated the marketing rights for all gold-nugget
production originating from a group of claims in the Ten Mile district of
north-central Nevada held by Kayzak Resources of Winnemucca, Nevada, The
gold-nugget production will be marketed through the venture's web site
www.awonline.com, which it is currently under development. It is
anticipated that the web site will be fully functional and in a position to
generate gold-nugget sales revenue within the coming month.
Gold-nugget samples obtained from this site are unique in that they range
from feather gold to large sponge-shaped pieces up to four centimetres in
length. Larger specimens containing gold stringers and seems of gold in
clay topped by quartzicalcite crystals have also been found. Each piece is
unique and far more attractive and valuable than normal placer or nugget
gold. The presence of these appreciable amounts of visible, crystalline
gold is extremely rare and requires some very unique geological parameters,
In this district, shear zones developed in the black shales and quartzite
beds. Initial mineralization consisted of iron alteration and quartz
crystal development, After this initial stage of mineralization, which was
barren of gold, a surging system of hydrothermal fluids and vapors
developed. Adularia is common in the district and is indicative of such a
surging system. Given the incompetence of the shales and the surging
fluids, clay was formed and comparably open permeable zones were created
within the shears. At some point, cryptocrystalline quartz with gold was
introduced into the systems. When geologic and geochemical conditions were
opportune, the deposition of gold and quartz took place.
As most of the highest-grade gold/quartz specimens are coated with clay in
their natural state, they are extremely difficult to see. As a result,
tailings reveal that past operators have overlooked much of this unseen
high-grade lode. Given that the shears are nearly vertical, the following
method has proved most successful. A D-8 K dozer is used to take out the
footwall and the face is then scanned with metal detectors. Hits are then
dug out by hand. Miners further explore the hanging wall with electric
jackhammers followed by backhoes and/or excavators being used in order to
speed up operations. Recent reworking of these tailings using modern
scanning detection methods has recovered many additional ounces of unique
high grade gold. In conjunction with Rio Minerals and Kayzak Resources,
management is further developing revenue minerals for the on-line sale of
the gold-nugget production. In addition to the development of its on-line,
e-commerce, direct sales model described above, Acer Capital Corp, through
its wholly owned subsidiary, Nu-Life Industries Inc. operates the only
fully permitted facility in Western Canada to store and recycle fluorescent
and high intensity discharge lamps, and all types of batteries.
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