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Gold/Mining/Energy : Gran Colombia Resources Inc (TSE.GRM)
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To: Phil Didaskalou who wrote (206)6/1/1997 2:46:00 PM
From: kfdkfd   of 308
 
Excerpts from Shareholder letter 5/14, Marmato, assay results confirmed the presence of significant zones of mineralization which extends deep into the wall rock surrounding the previously mined veins, HOWEVER, the inconsistentency of grades over large intersections, combined with intervening zones of uneconmic grade has resulted in a revision of our original estimate of a large bulk resource. It appears now that several of the best mineralized zones, if proven into reserves, could lead to a mining operation based on separate open mineable pittable orebodies. A study will take place.
Enchandia has a small but continous zone of exceptionally high-grade mineralization. Values up to 111 g/t Au 80% gold and 20% silver over 3 metres may contain 200,000 oz. in less than 300,000 tonnes.
The report continues on further efforts. A must read. Except for Enchandia, Marmato still needs to prove up.
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