GOLDEN PHOENIX MINERALS, GPXM Message Board

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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM

GPXM 0.000001000

-99.0%

May 28 1:24 PM EST

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To: Robert J Mullenbach who wrote (160)	9/26/2000 9:12:30 AM
From: Robert J Mullenbach	Read Replies (1) of 811

Golden Phoenix Minerals Reports Positive Results From Mining Reserve Study at Its Copper Property in Nevada RENO, Nev., Sept. 26 /PRNewswire/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - news) announced today that it has completed a preliminary open-pit mining reserve evaluation on the Banner deposit at its Contact copper property in Elko County, Nevada. The Company reported that at a $0.90 per pound copper price and 0.20% Cu cutoff grade, the mine reserve is 13,802,000 tons of mineable ore grading 0.965% Cu for a total of 278,248,700 pounds of recoverable copper. The waste rock to ore ratio is calculated at 5.1 to 1. The per pound cost variables used are $0.32 each for mining and processing, and $0.10 for G&A, which are considered high when compared to current operations surveyed. biz.yahoo.com

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