Elizabeth and Bill, good answer Bill...I will add to that later...my eyes were wide open immediately upon finding out that the second largest gold company in the world invested in a VSE company. From there it was simply a matter of seeking out the mystery buyers...something I forgot to do with AQP :>(
Here is a good read for everyone....6 million oz. geological resource in Columbia....I made money on this one a while back...until Eagle & Partners papered it to death.
>>Greystar Doubles Angostura Resource Estimate
GREYSTAR RESOURCES LTD ("GSL-T")
- Greystar Doubles Angostura Resource Estimate
Greystar Resources Ltd. is pleased to announce that Mine
Development Associates (MDA) of Reno, Nevada has calculated a
preliminary geologic resource estimate for the La Alta, Veta de
Barro, and Los Laches Zones at Greystar's Angostura Gold-Silver
Project in northeastern Colombia. Although the resource estimate
does not consider economics and is not a minable reserve, Greystar
is greatly encouraged that the estimate in essence doubles the
initial Angostura resource estimate published 30 September 1997.
In making their estimate, MDA stated "that the (mineralized) zone
is open and will expand."
Cut-off Tonnes Gold Grade Silver Grade Contained Gold
Equivalent Oz
(Au g/t) (Millions) (g/t)(opt) (g/t)(opt) (Troy)
0.3 215.41 0.89 0.026 4.87 0.142 6,730,000
0.5 80.74 1.75 0.051 6.86 0.200 4,840,000
0.7 53.52 2.37 0.069 7.96 0.232 4,290,000
The database used to carry out the estimate includes 137 diamond
drill holes (totaling 36 785m (120,600-ft) of core), as well as
surface and underground samples. Areas in which there has been no
drilling, such as the recently-sampled La Armenia concession or
the newly-acquired Laguna Larga permit, are not included in this
estimate. MDA has not yet made a site visit to verify data
supplied by Greystar, and anticipates that their preliminary
geologic resource estimate will be upgraded to the inferred
category once a site visit has been completed. This estimate is
part of a Preliminary Feasibility Study currently being conducted
by KD Engineering of Tucson, Arizona, to whom MDA is a
sub-contractor.
Greystar Resources Ltd. is an emerging mineral acquisition,
exploration, and development company whose Angostura Gold-Silver
Project has an independently-estimated geologic resource of 6.7
million ounces gold equivalent (Estimated 3 Nov. '98 on the basis
of 137 core holes drilled). Kinross Gold Corporation has stated
that it owns 20.6 percent of Greystar. For further information,
please visit the Greystar website at
greystarresources.com
TEL: (406) 245-9520<< |
