Hi Brian
When was the last time you saw a Ministry of Mines acknowledged a company's property as one of the most significant discoveries of that country.
****NEWS RELEASE****
January 16, 1998 - Eaglecrest Explorations
Ltd. announces that recently, the Bolivian
Ministry of Mines and its regional division have
officially acknowledged the Company's San
Simon gold project, located in northeastern
Bolivia, (along with Battle Mountain, Comsur,
Vista Gold and Gencore) as one of five of the
most significant discoveries in this South
American country.
Eaglecrest Explorations Ltd -
San Simon gold project activities
Eaglecrest Explorations
Ltd
EEL
Shares issued 11636595
1998-01-16 close
$0.34
Friday Jan 16 1998
*
San Simon Gold Project Elevated to Official
Status
*
Joint Venture Agreement completed
between The Bolivian Government,
Eaglecrest Explorations Ltd., and the San
Simon Mining Society.
*
Large Bulk Sampling Program Begins
January 16, 1998 - Eaglecrest Explorations
Ltd. announces that recently, the Bolivian
Ministry of Mines and its regional division have
officially acknowledged the Company's San
Simon gold project, located in northeastern
Bolivia, (along with Battle Mountain, Comsur,
Vista Gold and Gencore) as one of five of the
most significant discoveries in this South
American country.
This status has facilitated the completion of a
joint venture agreement with MEDMIN, (the
operational arm of Swiss agency COSUDE) a
Bolivian governmental agency whose mandate
is to promote regional development and
provide technical assistance to mining
operations. The focus of the venture is to
enhance gold recovery methods currently
being utilized and to reduce indiscriminate
useage of mercury amalgams by the San
Simon Mining Society ('Society').
As previously reported, MEDMIN processed 6
tons of coarse ore material from the Trinidad
Vein, and this test returned a value of 19.33
g/t. of gold. Recovery improved up to 90% by
utilizing a finer grind on the material. This
process is without the use of mercury in the
grinding stage or in amalgamation plates. The
Society is currently extracting approximately
100 tons of ore per month.
Both the Federal and Provincial levels of the
Bolivian Government have authorized this
agreement, ensuring Eaglecrest of access to
the various Governmental agencies on a timely
basis, when and if required.
The agreement and responsibilities between
the parties are as follows:
Eaglecrest Explorations Ltd.
*
Provide machinery and materials for the pilot
plant
*
Provide logistical support to MEDMIN.
MEDMIN
*
Pilot plant design
*
Provide logistic support to the San Simon
Mining Society
*
Implementation, start up, and operation of
the pilot plant
*
Training and education
*
Dissemination of results
*
Accounting
*
Permanent technical support staff.
The San Simon Mining Society
*
Deliver material (approximately 15+ tons per
day) to the pilot plant
*
Provide labor as needed for the operation of
the mill;
*
Pay 20% of revenues to MEDMIN;
*
Assist in facilitating comparison studies
between traditional methods and the pilot
plant;
*
Facilitate the dissemination and
implementation of the improvements
obtained in gold recovery, and pollution
reduction throughout the San Simon Mining
District.
This joint venture agreement ensures
Eaglecrest of all the necessary information on
recoveries of various ore types from different
test pits that will be critical for any large-scale
mining activities that may be considered for the
project and accrues to Eaglecrest virtually cost
free. This agreement will remain in effect at
the discretion of Eaglecrest and/or until
full-scale mining operations are commenced.
ON BEHALF OF THE BOARD OF DIRECTORS
Victor Lahmer
President
The information presented herein is for
information purposes only. No stock exchange
has approved or disapproved of the information
contained herein. This does not constitute an
offer to buy or sell securities or solicitation of
offers to purchase securities. Past performance
cannot be relied upon as a guide to future
performance.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
Mr Metals
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