Hi Ron, This is my last post for tonight, as I haven't been to bed yet ,and I thought I'd better before my husband wakes up and thinks I've deserted him. Here is one more item for now, but I will get some more updated news for everyone as soon as possible.
Corporate Overview
Vancouver, BC--Cornucopia Resources Ltd. (Nasdaq: CNPGF), is a gold exploration and development company with extensive projects in Nevada and West Africa. The Company has seasoned management and will act as operator on its 100% owned Mineral Ridge project when it begins production in 1997.
NEVADA
A joint venture with Newmont Mining at the Ivanhoe Project in the prolific Carlin Trend, Nevada, has outlined a combined oxide/sulfide resource of 1.3 million ounces of gold. To date more than $20 million has been spent on exploration of the property. High grade intercepts in the West Clementine zone require follow-up drilling. Pre-feasbility reports indicate that, given a higher gold price, mineable reserves could be developed at the Clementine, Velvet and Butte deposits.
At Mineral Ridge, located in Esmeralda County, Nevada, a bankable feasibility study is underway. Mineral Ridge is an advanced stage gold development project with a 550,000 ounce gold resource which will be exploited by open-pit heap-leach methods. A substantial drilling program (149 holes) has recently been completed on this property to expand and upgrade the existing resource. It is anticipated that this project will come on-stream in late 1996 at an approximate initial rate of 60,000 ounces per year, and averaging 50,000 ounces per year over the life of the mine.
WEST AFRICA
Cornucopia is "elephant hunting" in West Africa through its' 62% owned subsidiary, Carlin Resources Corp. (Vancouver:CLM), which has significant holdings in Ghana and Niger. These include:
Volta diamond property in the Birim diamondfield which has produced over 100,000,000 carats.
Chichiwere gold property in Ghana, with three "kilometer scale" gold prospects.
Tera gold property in Niger, a 1,500 sq. km property with a 20 km long gold soil geochemical anomaly in the same greenstone belt adjacent to and west of a new bulk tonnage gold discovery of 12 million tons grading 0.06 opt gold (720,000 ounces gold) at Etruscan Resources Ltd.'s Koma Bangou property.
Good Morning/ Good Night
Shirley |
