John,
Here's the news release from BCMD.
GRASS VALLEY, Calif., Oct 15 (Reuters) - Brush Creek Mining and Development Co Inc said Wednesday it encountered a high grade enrichment in pillar number one of its lower Brush Creek Mine.
The gold ore in one segment of the pillar was rich enough to be taken from the mine in 5 gallon buckets that were deemed jewelry-grade, the company said.
It said negotiations are in progress with a wholesale jeweler who has expressed interest in buying the gold at well over the spot market price.
Pillar no. 1 is one of 10 pillars believed to exist above the Cassidy level of the lower Brush Creek Mine in the Alleghany/Downieville district of Northern California.
"We are very pleased to have encountered our first pocket of high grade ore," chief executive James Chapin said.
As is normal in the district, "much of the high grade that we extracted was running over 500 ounces per ton. While this is a very exciting development, on average our more modest goal is that the pillars will produce one ounce of gold for every ton of ore milled."
The company also said the 2211 raise which is being driven through the no. 2 prospective ore block towards the no. 4 pillar had encountered enriched zones which contained visible gold. The raise is currently at the level of the no. 4 pillar.
The company is drifting off the raise and expects to encounter the no. 4 pillar this week.
Arthur Smith, Brush Creek's staff geologist, said "As we drift toward the pillar, we are encountering significant galena which is known to be the best indicator mineral for gold in our district because it precipitated contemporaneously with the gold."
Brush Creek said it has encountered favorable indications that a parallel ore shoot about 300-500 feet to the south of the Golden Gate ore shoot it has been exploring for may exist.
Stan Griffith, Mine Superintendent, stated, "Certain of our preliminary indicators suggest that perhaps the parallel ore shoot that we now believe exists in the lower Brush Creek may be nearly as high grade as the Golden Gate ore shoot that we are currently mining."
It looks like the Alleghany Mining District in Sierra County,Cal could be the next gold rush where BCMD and CYJ both have great properties.
GOLDIGER. |
