BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jason Marcotte who wrote (62)	7/23/1996 1:57:00 AM
From: Richard Lam	of 28369

Here's today's press release afterhours: RESERVE UPGRADES!! July 22, 1996 BRE-X Minerals Affiliate Of Breasea Resources Ltd. Announces A 7.77 Million Ounce Increase In The Busang Gold Project Southeast Zone 1 Resource Calculation CALGARY, July 22 /CNW/ - Brex-X Minerals Ltd. (T:BXM), a 23% owned affiliate of Bresea Resources Ltd. (ME:BSR) announced today an updated resource calculation which has been completed by KILBORN SNC LAVALIN on sections SEZ-44 to SEZ-69 within Southeast Zone I. The upgraded resource was calculated from information available as of July 10 using assay results of 9 new holes, tabulated on page 2 of this release, including the first 2 of 18 holes planned at 50 metre spacings on line SEZ-69, namely BSSE-94 and BSSE-96. Holes 151, 152, 153, 159 and 172 were drilled along strike in a low grade zone. Mineralization continues to be open in all directions. The resource tabulated below was calculated using a cutoff grade of 0.75 grams/tonne and does not include any drilled or partially drilled sections between SEZ-29 and SEZ-44. The figures below represent recoverable grades as cyanide extraction was used in the analysis CATEGORY ZONE MILLION AVERAGE GRADE MILLION TONNES GRAMS/TONNE OUNCES ---------------------------------------------------------------- Measured and Central 27.900 2.64 2.38 Indicated SEZ 44-69 111.581 2.18 7.85 SEZ 4-29 18.028 3.34 1.94 ---------------------------------------------------------------- Total 157.509 2.39 12.17 ---------------------------------------------------------------- Inferred Central 2.700 2.88 0.25 SEZ 44-69 394.934 2.14 27.28 SEZ 4-29 67.253 3.33 7.22 ---------------------------------------------------------------- Total 464.887 2.32 34.75 ---------------------------------------------------------------- TOTAL 622.396 2.34 46.92 ---------------------------------------------------------------- The classification of resources was based on the ``Principles of a Resource/Reserve Classification for Minerals'' by the U.S. Bureau of Mines and the U.S. Geological Survey (Geological Survey Circular 831) Measured - Blocks located within 25 metres distance from the section line with grades estimated from at least 3 holes. Indicated - Blocks located within 25 metres distance from, the section line with grades estimated from at least 2 holes. Inferred - Blocks located within 125 metres distance from the section lines. TABULATED DRILL RESULTS Assays Drill Hole Intercept (m) Intercept Length Gold Gold Number From - To Metre - Feet g/t oz/t ---------------------------------------------------------------- SEZ-51.5 BSSE-159 0.0 - 304.0 304.0 - 997.0 2.05 - 0.06 314.0 - 366.0 52.0 - 171.0 1.82 - 0.05 378.0 - 398.0 20.0 - 66.0 1.66 - 0.05 ---------------------------------------------------------------- SEZ-54 BSSE-151 4.0 - 126.0 122.0 - 400.0 2.63 - 0.08 including 22.0 - 80.0 58.0 - 190.0 3.65 - 0.11 240.0 - 256.0 16.0 - 52.0 1.18 - 0.03 274.0 - 290.0 16.0 - 52.0 1.16 - 0.03 ---------------------------------------------------------------- SEZ-56.5 BSSE-172 1.0 - 71.0 70.0 - 230.0 1.19 - 0.03 141.0 - 151.0 10.0 - 33.0 1.42 - 0.04 194.0 - 220.0 26.0 - 84.0 1.27 - 0.04 263.0 - 277.0 14.0 - 46.0 1.11 - 0.03 368.0 - 380.0 12.0 - 39.0 1.03 - 0.03 ---------------------------------------------------------------- SEZ-59 BSSE-152 8.0 - 42.0 34.0 - 112.0 1.44 - 0.04 124.0 - 134.0 10.0 - 33.0 1.90 - 0.06 147.0 - 192.0 45.0 - 148.0 1.77 - 0.05 ---------------------------------------------------------------- SEZ-59 BSSE-153 1.0 - 17.0 16.0 - 52.0 1.21 - 0.04 ---------------------------------------------------------------- SEZ-64 BSSE-115 2.0 - 12.0 10.0 - 33.0 1.36 - 0.04 128.0 - 156.0 28.0 - 92.0 1.39 - 0.04 169.0 - 177.0 8.0 - 26.0 1.91 - 0.06 359.0 - 401.0 42.0 - 138.0 2.60 - 0.08 ---------------------------------------------------------------- SEZ-64 BSSE-126 200.0 - 400.0 200.0 - 656.0 1.90 - 0.06 including 238.0 - 276.0 38.0 - 125.0 3.46 - 0.10 ---------------------------------------------------------------- SEZ-69 BSSE-94 17.0 - 391.0 374.0 - 1227.0 2.23 - 0.07 ---------------------------------------------------------------- SEZ-69 BSSE-96 10.0 - 24.0 14.0 - 46.0 2.03 - 0.06 58.0 - 405.0 347.0 - 1139.0 3.54 - 0.10 including 78.0 - 272.0 194.0 - 636.0 4.69 - 0.14 ---------------------------------------------------------------- Currently 6 diamond drill rigs are being utilized. Measured and indicated resources will be drilled out in a block measuring 850m by 1300m which encompass drill lines SEZ-44 to SEZ-69 at 125m drill line spacing by mid December 1996. ON BEHALF OF THE BOARD DAVID G. WALSH President & Chief Executive Officer

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next