International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Richard Mazzarella who wrote (827)	12/19/1996 11:13:00 AM
From: TrueScouse	of 35569

Olga: (or Richard or whoever! I thought I had responded to a post from Olga...) Since I am expected to come up with some calculations, a quick reaction to the PR..... They have re-tested six complete drillhole samples from the grid of 121 drillholes and compared the new results with the previous ones. There are two sets of gold assay results from two independent labs, with each showing similar figures. In one case, the six results average 0.297 opt Au; in the other they average 0.256 opt Au. This compares to an average of 0.053 opt for the same samples tested in March 1996. [NB: These averages are my figures calculated from the info in the PR]. i.e. the new assay results are showing about 5 times as much gold in the BRX material as before. The PR also states that they are still waiting for assay results on the platinum. The implications of these figures are quite staggering. Whereas before they had an average figure of 0.046 opt for the entire first grid (to 100 feet depth) -- or about 2.3 million oz Au for the first sq.km. -- the new figures would imply that there are about 12 million oz of gold in the first sq.km. to only 100 feet depth. It is not surprising that the share price is taking off again this morning! Extrapolating this to about 300 feet depth and only 6 sq.km. would lead to over 200 million ounzes -- and that's without any platinum! So -- just a reminder that this is in no way a "proven reserve" -- it will probably take another year to get to that stage. But then Bre-X didn't need to get to that stage for its share price to move up quite sharply <g>. Looking forward to Christmas! Best wishes to you (and hoping it helps while we're waiting for VEC). Howy

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