To All:
Checked up on status of Oro Grande and Weaver Creek today with GPGI management. There is apparently an option on the Oro Grande held by Glogal. I did not ask about the terms, but was told that the owner wants mostly stock with enough cash to comfortably relocate his home, which is on the Oro Grande property. He is , in fact, working on important developments at the Global refinery. Looking back at some old assays on the Oro Grande by Michael P. Thomas of MHS laboratories in Denver, I found the following. Dated Jan 29, 1988. "The fianl assay report is based upon 862 assays distributed among seven elements: Au, Pt, Pd, Rh, Os, Ir, and Ag. Raw data were treated statistically to reject outliers and generate a final set of assay averages. The following are assay averages: Au - 0.205 opt, Pt - 0.863 opt, Pd - 0.128 opt, Rh - 0.086 opt, Os - 24.23 opt, Ir - 13.65 opt, and Ag - 1.12 opt." " The final procedures included flamm AA, Flameless AA, nickel sulfide and classical fire assaya. " there is estimated to be 62,000,000 tons of ore at the mine site to a depthe of about 350 ft. An additional 100,000,000 tons is available between the 350 ft level and the deepest leval assayed, 700 ft. The surrounding area 1000 acres of lode claims, appears to contain similar values on the basis of lithologic similarities, structural similarities, and some random assays"
Weaver Creek--Global has sole ownership of these BLM claims. The JV partner from years ago was unable to put up their portion and was bought out for stock. The partner was Hulinger and Mcfarland ( I believe this is the correct spelling} I will dig through my papers and see what I can find on the Weaver Creek values.
Global will have a booth at the James U. Blanchard conference in New Orleans, in the latter part of October. Some of you may know the date, so please post. Mr. Michael J. Pokorny will speak on behalf of Global.
BTW--Zeev--Hope that crystal ball keeps vibrating--even better would be scintillating!!
Jack R. Smith |
