Jeff, as i said before, brex spiked those bags. it has already been written that brex is the biggest fraud in mining history. read the brex site and strathcona results. zilch, just like the brains in your head. so i suggest that you go back to amoeba school because you are so low on the food chain that even a two bit hustler can fool you. read this and swallow your puke along with the other amoebas in the pro brex camp. god bless you , you reap what you sow. thank god and have a nice day.
Strathcona Minerals Services Limited
12th Floor, 20 Toronto Street, Toronto, Ontario, Canada M5C 2B8
Summary
The Busang property in the Province of Kalimantan in Indonesia has been under
exploration by Bre-X Minerals Ltd. (Bre-X) with core drilling results since
mid-1995 on the Southeast Zone of the property giving rise to expectations that
the Busang property could host one of the largest single gold deposits ever
discovered. In February 1997, Freeport McMoRan Copper & Gold Inc.
(Freeport) commenced a due diligence program prior to becoming a participant
in the further development of the Busang property. The Freeport program
included core drilling and in mid March, Freeport advised Bre-X that gold values
comparable to those from the Bre-X drilling were not being realized.
As a consequence, Strathcona Mineral Services Limited (Strathcona) was
engaged by Bre-X to carry out a technical audit of the work done by both Bre-X
and Freeport. As part of that technical audit, we have completed a closely
supervised six-hole core drilling program with 1470 metres drilled. Because of
the intense interest in the Busang property and the consequences for many parties
arising from any conclusions reached in our audit, we have made the decision to
select an initial 350 metres of core for assaying that would allow us to issue an
interim report on our findings, rather than wait for several more weeks before all
core has been assayed and all investigations completed.
The 350 metres of core and the resulting 175 samples were selected so as to
provide the best chance of confirming the presence of gold as indicated by the
Bre-X core samples. The sample treatment procedures and assaying were
carried out at laboratories in Australia, Indonesia and Canada, with all results
received just prior to our issuing this interim report. The assay results have been
quite conclusive, and along with work done by Freeport, results from recent drill
core samples submitted by Bre-X, and other investigations and observations we
have made, we are able to express without reservation the following opinions and
conclusions concerning the main area of interest on the Busang property, the
Southeast Zone I South, and to which we anticipate no changes in our final report
when all the drill core from our audit program will have been assayed.
1. Only trace amounts of gold have been found in the samples assayed, and there
were no samples that gave gold values of economic interest.
2. As a consequence, we believe there to be virtually no possibility of an
economic gold deposit in the Southeast Zone I South of the Busang property.
3. The assaying of the samples from the Busang property submitted by Bre-X to
Indo Assay Laboratories in Balikpapan, Indonesia has been of a good standard,
and the gold values reported have reflected the gold in the samples delivered to
the laboratory.
4. The due diligence program conducted by Freeport has been very thorough and
of a high professional standard in all respects.
5. The gold recovered in samples submitted by Bre-X has originated from a
source other than the Southeast Zone of the Busang property and has resulted in
falsification and misrepresentation of many thousands of samples with consequent
and subsequent erroneous estimates of gold resources.
We therefore make the following recommendations to the Board of Directors and
management of Bre-X Minerals:
1. Those authorized and qualified to carry out investigations into the fraudulent
activities that we believe to have occurred should be contacted immediately and
requested to pursue the matters that we are bringing to the attention of Bre-X and
any other parties concerned. We are ready to assist in whatever manner we can
in carrying out these investigations.
2. All core and samples that have not yet been assayed and all documentation
pertaining to the Busang property should be placed under tight security until the
investigations recommended are completed.
3. All exploration work on the Southeast Zone at the Busang property should
cease immediately.
Unless we receive further instructions to the contrary, we shall continue with the
completion of our audit program although we do not feel it necessary that
assaying of the remaining core samples be carried out at all three laboratories.
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