Medinah Mining Inc. (MDHM) Message Board

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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)

MDMN 0.000001000

-99.0%

Jun 3 1:07 PM EST

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To: Handshake™ who wrote (1991)	4/14/1998 9:39:00 PM
From: Handshake™	Read Replies (2) of 25548

Geez after that technical lesson how about a history lesson: Andacollo Gold Mine History of Andacollo Mining in the Andacollo district of central Chile began with the Incas in approximately 1500 A.D. Andacollo became a major gold producing region in the 1540's with the arrival of the Spanish, and gold has been produced continuously since that time with previous mining activity reaching its peak between 1932 and 1950. The total gold production from Andacollo prior to Dayton's operations is estimated at 3.2 million ounces, primarily from placer deposits and high grade vein mineralization. In 1985 Chevron Exploration Corporation acquired the 2,150 acre land package and carried out an exploration program to test high grade vein structures. Approximately US$13 million was invested by Chevron in the Andacollo Project including acquisition and exploration expenses. In 1989 Chevron made a decision to sell most of its mining assets worldwide, including Andacollo. Dayton personnel conducted a preliminary evaluation of Andacollo in early 1989, prior to negotiating a five month option agreement with Chevron. As a result of an intensive drilling and testing program during the option period, Dayton engineers and geologists identified low grade deposits with the potential to be profitably mined by open pit methods. Due to the capital cost requirements, the complexity of acquiring the land position and the large scale of the proposed operations, such an undertaking was not possible for the small miners or "pirquineros". Upon completing the purchase of the Andacollo property in January 1990, Dayton continued to conduct further drilling and metallurgical testing. Bechtel Corp., one of the world's largest engineering and construction companies, was engaged during this period to carry out a feasibility study. A bankable feasibility study was completed in February 1991 and updated in May of 1993.

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