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Gold/Mining/Energy : CONSOLIDATED TRILOGY/CTJ/VSE: HUGE POTENTIAL IN CHILE.
TME 22.32+0.7%Oct 31 9:30 AM EDT
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To: Buckey who wrote (3)6/1/1998 12:38:00 PM
From: Mr Metals  Read Replies (2) of 40
 
*****NEWS RELEASE******3 MILLION OUNCES.....WOW

Consolidated Trilogy Ventures Ltd -

Property acquisition

Consolidated Trilogy Ventures Ltd CTJShares issued 62148761998-05-29 close $0.47Monday Jun 1 1998Mr. Richard Jeffs reports The company has negotiated an option to buy up to 70 per cent of the Mantos Grandes property in Central Chile, which is estimated to contain 3 million ounces of recoverable gold and gold equivalents (copper and silver). The Mantos Grandes property has been mined by pirquineros since 1973. Based on an assessment of the tailings, they are estimated to have extracted approximately 800,000 tons from the mine. The company's consultant has been on the property for the past two months reviewing information provided by Enami, the state controlled smelter for small operators, and the results of the vendor's sampling program conducted on surface samples collected over an area of 75,000 square metres and underground samples collected from 11 levels of the workings. He expects that his report will confirm the vendor's estimate of the potential mineralization. The property is the sole asset of Millstone Mining. The company has the option to acquire up to 70 per cent of Millstone Mining for the following consideration: 1.$200,000 (U.S.) upon regulatory approval, which gives the company the right to complete 2,000 metres of diamond drilling and 5,000 metres of reverse circulation drilling within one year from the effective date of the option agreement; 2.$300,000 (U.S.) and one million shares upon the completion of the diamond drilling if the company elects to proceed with the reverse circulation drilling; and, 3.Three million shares upon the completion of the reverse circulation drilling and one share per ounce of reserve confirmed by the drilling program if the company elects to exercise its option to acquire shares of Millstone. The company may acquire 70 per cent of the outstanding shares of Millstone Mining if the drilling program confirms the reserve, or 50 per cent if the drilling program does not confirm the reserve. The vendor may continue to mine up to 500 tons per day until the company exercises its option to acquire shares. The agreement must be formalized in a shareholders' agreement and is subject to the company's completing its due diligence review. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

Mr Metals
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