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Gold/Mining/Energy : Vulcan Ventures Corporation (VVC.V) - formerly HUN.V
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To: Les Grajkowski who wrote (9)7/23/1997 12:53:00 AM
From: Dennis Brown   of 28
 
Here's the latest!!!

Analysis of Brett gold project completed

Huntington Resources Inc HUN
Shares issued 7,191,596 Jul 18 close $0.21
Tue 22 Jul 97 News Release
Mr Roger MacInnis reports
The company has recently received a commissioned report prepared by an
independent engineering consulting firm on the company's 100% owned Brett
gold project near Vernon, BC.
The consulting engineer completed a detailed analysis of the Brett gold
project and reports that a phased program requiring approximately $650,000
will permit the company to complete the mining of the Bonanza zone. This
phase of the project has been forecasted to generate a net cash flow after
pay back of approximately $1,000,000. The program is scheduled to complete
in six to eight months.
The Bonanza zone is a high grade ore shoot within a 1.4km long shear zone.
The funds generated from this phase will be reinvested to identify and
develop additional reserves.
It is in the nature of the mining industry, especially the small mine
sector, that advanced development funds must be internally generated.
The company completed a bulk sample on the Brett gold property in the fall
of 1996. A total of 321 tons of ore grading 0.810 ounces of gold per ton
and 1.86 ounces of silver per ton were direct shipped to Cominco's smelter
in Trail, BC and generated a return of $103,485.
The company is in the process of preparing an exchange offering prospectus
and is negotiating with several sources to obtain the required financing.
The company is confident that the financing will be forthcoming.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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