To Ari,
Great call on the 1,000,000 oz target.
Consolidated Samarkand Resources -
Continued sampling on El Creston
Zonc, Mexico
Consolidated Samarkand
Resources
SKC
Shares issued 18265433
1997-10-06 close
$0.28
Tuesday Oct 7 1997
Mr Ralph Shearing reports
The company has preliminary ore reserve
(probable) calculations for the El Creston zone
based solely on the underground sampling and
mapping of the company. An ore reserve
calculation (possible) for the Cinco de Mayo
and El Creston-Cinco de Mayo gap has also
been calculated.
The El Creston zone contains ore grade gold,
silver, lead and zinc values over appreciable
mining widths. The Cinco de Mayo zone,
1,500m south of the El Creston zone, is
geologically identical to the El Creston zone
and is projected to be the El Creston's southern
continuation. The gap between the zones is
talus covered and unexplored. The El Creston
and Cinco de Mayo zones are two of 12
precious and base metal rich mineralized zones
known to occur on the Tahuehueto property to
date. With the exception of the El Creston
zone, which has been the focus of the
company's sampling program up to now, all of
the other zones require detailed sampling and
geological evaluation. This work will initially be
focused on thoroughly sampling the remaining
4,000+ metres of underground workings within
these other zones.
Management has calculated ore reserves in the
probable and possible categories. Probable
reserves from the El Creston zone are 238,126
tonnes grading 9.66 g/t gold, 76.68 g/t silver,
2.61% lead, and 3.96% zinc (2,300,300 grams
or 73,965 ounces of gold). These probable
reserves have an average mining width of
4.5m. Possible reserves from the El Creston,
Cinco de Mayo and the gap between El
Creston and Cinco de Mayo total 4,417,000
tonnes. Based upon the underground sampling
results obtained on the El Creston zone, where
gold averaged 9.66 g/t, the 4,417,000 tonnes of
possible ore could host a resource of
42,668,220 grams of gold or 1.37 million
ounces gold .
An underground drilling and exploration
program is being designed to upgrade the
possible reserves contained within the El
Creston zone into the proven category. In
addition this exploration program will also test
the Cinco de Mayo, the area between the
Cinco de Mayo and El Creston as well as El
Creston and El Creston North areas to upgrade
the possible reserves outlined above. This
systematic exploration program will include
bulldozer trenching, geophysics, surface and
underground diamond drilling.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
HARLEY.
PS.I think this company is a little undervalued. |
