to further elaborate on reporting little news ...
4 page newsletter with one page of a map, one page talking about drill types, one page listing all the holes drilled but no results yet, and one page stating two feasibility studies due later on towards the end of the year ...
Canada Stockwatch
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El Misti Gold Ltd -
Sinchao project assay variations
El Misti Gold Ltd EMGShares issued 21,324,6431998-07-17 close $0.35Monday Jul 20 1998Mr. Robin Slaughter reports The initial results of the comparisons between the air classification coarse gold fire assay method using hammer mill sample preparations and the normal fire assay method have been received. Similar results were obtained for copper and silver values. This significant variation has caused a decision to apply the air classification coarse gold assay method over all 1998 diamond drill results which have been determined to be representative samples. Representative samples are defined as those samples that have a recovery of 80 per cent or higher as verified through the company's quality assurance program.
Following is that status of physical progress for diamond drilling to July 15, 1998:
Hole SDH-02: Was completed at 629.7 metres (true depth of 545.3 metres) as previously reported. Assays have been received for the entire hole. CGA (coarse gold assay) awaited;
Hole SDH-03: Was completed at 492 metres (true depth of 475.2 metres). Assays have been received for the entire hole. CGA awaited;
Hole SDH-05: Hole was completed at 498.7 metres (true depth of 434.5 metres). Assays have been received to 472 metres. CGA awaited;
Hole SDH-06: Hole was completed at 816.5 metres (true depth of 740.0 metres). Assays have been received to 690 metres. CGA awaited;
Hole SDH-07: Current depth 789 metres (true depth of 683.3 metres). Awaiting all assays;
Hole SDH-08: Current depth 447 metres (true depth of 387.1 metres). Awaiting all assays;
Hole SDH-09: Hole abandoned at 158.1 metres (true depth 136.9 metres). Awaiting all assays;
Hole SDH-10: Current depth 84 metres (true depth of 136.9 metres). Awaiting all assays. Holes were abandoned at shallow depths due to ground conditions. Drilling has indicated widespread mineralization containing gold, silver, copper and zinc.
Development Concept - Sinchao The company's development concept at Sinchao embraces open pit mining using electric power, single stage crushing, as well as two stage grinding and flotation facilities. Leaching of the bulk concentrates using hydrometallurgical approaches will be employed in order to produce copper and zinc metal and gold and silver bullion. The company's preliminary economic evaluation indicates the importance of a low cost energy source for the project, both in terms of operating and capital cost. The company has identified such a source and steps are being taken to secure this supply. The results of these discussions will be released in later news releases. Additionally, a high grade starter feed resource needs to be established in order to accelerate the repayment of the capital cost. Preliminary indications suggest target recoveries of 80 per cent for copper, 50 to 70 per cent for zinc, silver and gold. These results are based upon flotation testwork that the company completed where 90 per cent of the copper, zinc, silver and gold contents of the feed samples reported to the bulk concentrates. The conceptual economic model will be further defined as metallurgical testwork proceeds and the evaluation of the power project is completed. The company is preparing three potential flow sheets for metallurgical and ultimately economic evaluation. Initially, bench scale tests will be conducted. Santa Rosa Prefeasibility The company has retained Roscoe Postle Associates to complete a prefeasibility study for the Santa Rosa project using the conventional carbon in pulp treatment. Estimated completion time is Oct. 31, 1998. Metallurgical results have indicated that the most viable option is to use the Dodd/Sceresini transportable treatment plant with evaluation of the 2,000 to 3,000 tpd alternatives. San Nicolas Prefeasibility Study The company has retained Roscoe Postle Associates to complete a prefeasibility study on the San Nicolas mine and heap leach operations. The San Nicholas plant and heap leach operations are conveniently located 3km from the Sinchao property and the San Nicholas mine. Prefeasibility studies will include the evaluation of the Consulado project and the Sinchao high grade mantos mineralization. The prefeasibility will encompass resource estimates. Open pit mine design and metallurgical evaluation will be done using alternative hydrometallurgical technology and environmental assessment. Based on recommendations from independent consultants, the company is planning to drill 2,010 metres at Consulado in 21 holes as well as 3,000 metres of reverse circulation drilling on the Sinchao mantos in 15 holes in order to establish resource estimates. The estimated completion date for the prefeasibility study is Dec. 31, 1998. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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