Joe: Here's the good news, from the horse's mouth:
Canadian Corporate News --- Hot Off The Wire
News Release for CONSOLIDATED VISCOUNT RESOURCES LTD
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: GUARDIAN ENTERPRISES LTD.
VSE SYMBOL: GUD
AND CONSOLIDATED VISCOUNT RESOURCES LTD.
VSE SYMBOL: CVR
NOVEMBER 7, 1996
Consolidated Viscount Resources & Guardian Enterprises -
High Grade Mexico Mine Nearing Production
VANCOUVER, BRITISH COLUMBIA--Guardian Enterprises Ltd. (GUD-VSE)
and Consolidated Viscount Resources Ltd. (CVR-VSE) report that
development work is almost completed and the mill has been primed
to begin production of the gold/silver deposit on the Las
Coloradas Concession, Durango, Mexico. An earlier scheduled start
of production was impossible due to heavy rains.
The Las Coloradas Concession consists of 12,000 acres hosting a 5
km long shear zone, approximately 2.5 metres wide with an
indicated depth of at least 700 metres. High grade vertical ore
shoots occur along the shear. Thirteen mines were operating in
the period from 1938 to 1940 along the 5 km structure until a
major accident on the "El Hogar" mine virtually terminated all
activity. "El Hogar" records show production grades as high as
2.96 oz gold and 18 kg silver per ton.
Five old mines have been reopened and adits driven to reach ore
shoots. These include the Santa Anita, Contrabando, Piedra Bola
and Escandalo adits and the Confital shaft, located near the site
of the former El Hogar shaft. The Confital shaft will be
excavated to a total depth of 170 metres and is currently down 100
metres.
Water and power lines have been extended to the Confital shaft
site. Access roads have been built and graveled, along with
concrete drainage systems and retaining walls to ensure year round
use.
Ore has been encountered in the four adits and is being stockpiled
at the mill site for easy access. A recent ore shoot encountered
in the Santa Anita adit graded 16 gr/t gold and 1,147 gr/t silver
over 2.5 metres in the face as well as 2 gr/t gold and 160 gr/t
silver in the wall. This ore shoot is 50 feet long on strike and
at least 130 feet above the adit floor. Several hundred tons of
lower grade ore has been removed from the Contrabando adit and
stockpiled. This ore grades 6 gr/t gold and 360 gr/t silver over
1.5-2 metres, even though the actual working face has not yet been
reached. The 100 ton per day mill has been upgraded to operate
continuously at full capacity.
Consolidated Viscount Resources and Guardian Enterprises,
associate partners, jointly own 31.85 percent interest in Las
Coloradas with an option to increase this to 57.35 percent.
Leonard J. Harris
President
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FOR FURTHER INFORMATION PLEASE CONTACT:
Guardian Enterprises Ltd.
Leonard J. Harris
President
(604) 669-6807
(604) 669-5715 (FAX)
or
Consolidated Viscount Resources Ltd.
Leonard J. Harris
President
(604) 669-6807
(604) 669-5715 (FAX) |
