GEOMAQUE Message Board - Msg: 13734034

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Gold/Mining/Energy : GEOMAQUE

GEO 14.93

+0.6%

Nov 12 4:00 PM EST

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To: Ian McCartney who wrote (163)	5/18/2000 2:10:00 PM
From: Claude Cormier	Read Replies (1) of 260

A 3.4:1 ratio is a bit high. But that was the average. Initial mining will have something much lower...I'd say well below 1:1. From last fall press release: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Additional ore-grade gold mineralization has been delineated through exploration at its Vueltas del Rio gold deposit in northwestern Honduras. As part of detailed mine planning, the company recently completed a program of 71 pits at Vueltas del Rio, which have added a strip of mineralization covering an area approximately 30 metres wide by 700 metres in length to the southern extent of the San Roberto Zone. The pits, which were dug by backhoe to a maximum depth of five metres, are an effective method of testing near-surface mineralization as they provide a larger sample size than drilling. Channel sampling was done on one-metre-vertical intervals. The highest grades were encountered in Pit No. 53 on section 540E. The sample included four metres grading 9.41 grams per tonne, with the last metre grading 27.12 g/t. Oxide mineralization in the San Roberto zone is flat lying, giving it an extremely low stripping ratio. In addition, the oxide material at Vueltas del Rio has rapid leach characteristics and high recovery rates, estimated in the feasibility study at 88 per cent.

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