stockman,
Is this the good news you were waiting for? Can you or anyone else comment on the results? The probable reserve of 61,000 tons at 11g/ton equiv. would keep the mill operating for 100 days. I am concerned about the costs of exploration, costs of mining, stripping ratios, prepreparation costs etc. I can't see this happening without more financing. Even if they made a ----load of money last quarter, they probably still owe a lot. They also seen to be in denial about the increase in shares outstanding. I think they are at about 75,000,000 now.
Final assay results from Flex deposit
BYG Natural Resources Inc BYG
Shares issued 55,585,360 Jul 15 close $0.22
Thu 16 Jul 98 News Release
Mr. Graham Dickson reports
Final assay results have been received and compiled for the initial 1998
diamond drill program on the Flex deposit. Fourteen drill holes (1,138
metres) were drilled on the northern extension of the deposit. Assay
results for five drill holes (98-183 to 98-188) were reported in Stockwatch
May 13, 1998.
The drill results have extended the Flex vein system 125m north of the
previous diamond drilling (carried out between 1985-95). The vein system
trends north-northwest and dips steeply to the west. The mineralization is
open along strike and to depth.
Eight holes tested the Main vein. The drill holes intersected a zone of
multiple quartz-sulphide veining within a broader alteration zone. A high
grade vein (HW vein) west of the Main vein yielded gold-silver values in
several high grade intersections, up to 31.5 g/t gold and 4,206 g/t silver
in drill hole 98-191. The mineralized intersections across the
vein-alteration system yielded widths of 5.6 to 21.4m. The best interval of
the alteration zone enclosing the HW and Main veins averaged 6.18 g/t gold
and 260.9 g/t silver over 11.6m in drill hole 98-193. The veins have been
intersected to depths of 75m below surface.
Six separate holes were drilled to test the footwall vein approximately 25m
east of the Main vein. The shallow holes intersected the vein, which had
never been drilled in earlier programs. The northern drill hole intersected
a 4.1m wide vein zone averaging 3.0 g/t gold and 44 g/t silver. The
mineralization to the south occurs in a disseminated zone over a wide
interval as reported May 12, 1998 in drill hole 98-186, which averaged 0.43
g/t gold and 9.5 g/t silver over 7.5m.
The Flex mineralization is open along strike and to depth. The most
northerly holes intersected the vein system within a quartz-feldspar
porphyry (qfp) dyke, which appears to have constricted the mineralization.
A similar constriction of the Webber veins deposit occurs where the veins
are wider and higher grade on either side of the qfp dyke. The Webber veins
are 400m west of the Flex veins.
A probable reserve of 61,000 tonnes grading 7.01 g/t gold and 283 g/t
silver was calculated based on the revised exploration model following the
1997 stripping and detailed surface sampling and mapping program. The
revised interpretation indicates several areas within the shallow resource
which require in-fill drilling and indicates the zone is open in the
southern direction. The reserve is based on a 4.0 g/t gold equivalent
cutoff grade (Ag: Au at 60:1).
Further drilling is planned to define the extent of the vein system
northward, southward and to depth. In fill drilling is required to define
the ore reserve and prepare the mining plan.
The assay results for the remaining 12 drill holes (1,009m) completed along
the Brown-McDade structural trend are nearly completed and will be reported
in the near future.
A summary table of the previously unreported drilling completed in the Flex
zone is attached.
FROM - TO WIDTH AU AG AU EQ. ZONE
(m) (m) g/t g/t g/t
Hole 98-189
36.7- 37.6 0.9 1.47 7.1 1.62 Flex
45.8- 46.8 1.0 1.44 24.9 1.94
Hole 98-190
15.5- 36.9 21.4 1.85 61.7 3.08 Flex
Incl.
19.5- 20.2 0.7 11.80 298.8 17.78
And
29.5- 30.0 0.4 4.05 247.4 8.99
And
36.5- 36.9 0.4 13.17 1035.5 33.88 HW
And
47.2- 48.0 0.8 5.93 243.5 10.80
Hole 98-191
31.3- 51.8 20.5 1.98 143.4 4.84 Flex
Incl.
32.2- 32.9 0.6 31.54 4206.5 115.67 HW
And
38.3- 38.8 0.5 3.74 65.5 5.05
And
44.6- 45.6 1.0 8.47 58.2 9.63
Hole 98-192
43.5- 57.8 14.3 1.01 29.3 1.59 Flex
Incl.
43.5- 44.5 1.0 1.34 92.5 3.19
And
46.3- 47.4 1.2 3.02 155.6 6.13 HW
And
51.1- 52.0 1.0 1.54 8.0 1.70
Hole 98-193
56.1- 67.7 11.6 6.18 260.9 11.40 Flex
Incl.
56.1- 57.0 0.9 3.84 75.7 5.35
And
60.2- 61.1 0.9 14.50 78.4 16.07 HW
And
62.1- 63.6 1.5 6.36 194.3 10.20
And
65.0- 67.7 2.7 13.43 45.1 14.33
And
86.2- 86.9 0.6 17.49 362.0 24.73
Hole 98-194
64.0- 69.6 5.6 4.98 80.8 6.60 Flex
Incl.
65.5- 66.0 0.5 4.63 595.8 16.50 HW
And
68.0- 68.6 0.6 3.15 122.5 5.60
And
80.0- 84.3 4.3 7.10 95.3 9.01
Incl.
82.6- 83.6 1.0 7.85 364.3 15.10
Hole 98-195
68.6- 80.1 11.5 1.22 51.1 2.24 Flex
Incl.
68.6- 69.0 0.5 3.50 28.6 4.07 HW
Incl.
74.9- 75.8 0.8 7.34 382.1 14.98
And
90.8- 92.9 2.1 1.33 61.4 2.56
Hole 98-196
78.3- 79.3 1.0 1.54 101.5 3.57 Flex
And
93.8- 94.3 0.5 2.71 112.5 4.96 HW
And
100.7-101.7 1.0 1.23 26.5 1.76
Gold:Silver Equivalent Ratio used is 50:1
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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