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Gold/Mining/Energy : Lyon Lake Mines Ltd
LLL 245.17-0.4%Jun 28 5:00 PM EST
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To: yosi s who wrote (351)2/19/1998 10:22:00 AM
From: Goldentouch  Read Replies (2) of 520
 
Interesting Press Release for Esperanza

PLACER DOME REPORTS RESULTS FOR EXCELLENT OPERATING YEAR
(all dollar amounts in U.S. currency)

VANCOUVER, Feb. 18 /CNW/ - Placer Dome Inc. today announced details of its 1997 performance. The ongoing process of improving the quality and nature of the Corporation's mine portfolio continued. Steps were also taken to preserve funding for priority exploration and quality reserve acquisitions to meet the objective of achieving superior shareholder returns.

Exploration expenses are expected to be about $115 million in 1998 on priority projects which include Aldebaran in Chile, Donlin Creek in Alaska, Cerro Crucitas in Costa Rica, Samira in Niger, and projects in Peru and Canada.

At Cerro Crucitas, more than 1,600 metres of drilling in two target areas resulted in the discovery of a new deposit, Conchudita, 10 km from the known deposit. A second round of drilling on Conchudita has been initiated. Drillholes and trenches at Conchudita show mineralized intervals of up to 41 metres at 2.8 grams of gold per tonne with the potential to add 1 million ozs. of high-grade ore to the project. The current measured and indicated resource at Cerro Crucitas is estimated to be 2.2 million ozs. of gold.
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