CVR: V Consolidated Viscount Resources - Ringer??? Message Board

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Gold/Mining/Energy : CVR: V Consolidated Viscount Resources - Ringer???

CVR 9.050

-3.5%

3:59 PM EST

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To: Denny Blenkinsop who wrote (26)	10/21/1996 1:18:00 PM
From: John Fairchild	of 409

Denny, the property does have assays. Both drilled and grab samples. The following is a brief history history that will provide some answers regarding the Washington property. This property was originally purchased by a Chinese interest as a "property of merit" 10 years ago. It provided this company with a means of obtaining a listing on the VSE (property of convenience). To satisfy the process they drilled two holes. Inco looked at the property but obviously the nickel content in the assays was not high enough to justify a production commitment. At that time very little was known about scandium. Len Harris found out about the property through the diligence of the sister company (Gaurdian) VP of exploration, Dr Kucera (Director of Geological Engineering, UBC at the time). CVR purchased the property in 94. The tonnage and grading noted in the news release dated October 10/96 and April 10/96 was produced from the drilling results. The fact that the mineralization is exposed at the surface on the side of the mountain probably provides some of the confidence for determination. The grading of the drill holes is 1.2 oz per ton scandium. 50 grab samples were taken of the area exposed by the land slide and continuity of grading was found at 1.4 oz scandium per ton. The Chief Geological Scientist of the major who inspected the property made the estimate of "at least 3,000,000 tons". Denny, your point is well taken. I have told the company IR that they need to be much more specific in detailing their news releases. They understand. They expect to release more news near the end of the week regarding both Durango and the developements on the Washington property. These gentlemen are professionals. Absolutely not the type to be spreading BS. The only thing missing with this company for time being is the ability to get the word out on their properies so that everyone will understand the reality of what they have (lucky for those that have currently bought). John.

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