Goldminco Consolidated Mining Corp. GMC (was GMO) Message Board

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Gold/Mining/Energy : Goldminco Consolidated Mining Corp. GMC (was GMO)

GMO 0.0121

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Jan 21 4:00 PM EST

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To: Bob Lawson who wrote (530)	6/19/1997 12:42:00 PM
From: richard badauskas	of 588

Spoke to Peter Tambanis in Qld, they are hoping to establish a resource that will allow a 350 t/p/d plant to process a small near surface vein located by current drilling, hoping to mine it at 10g/t to give 25,000 ozs p.a. Have cash of $1M and a credit line of $3M to establish the plant. The area is a known goldfield, but production must have been very small as I could find no mention of it in Australian resource records. No estimates are yet available for grades or tonnages and will follow after the current drilling campaign is completed. I hope this answers most of the queries that have been generated on this site. I personally feel that Charters Towers is sitting on a major elephant, they have unique geology consisting of a granite block with mesothermal activity that created one of Australia's richest goldfields. The structures being drilled are MASSIVE.

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