TO ALL:
The following is the most recent summary from Mike McKay, of MDM Insurance Services, Inc., our consultant responsible for the Hassayampa Production Facility. These are his unedited words without change. This shall be published as a news release scheduled for Monday 8, at 9:00 AM EST
Dated November 6, 1998
EXECUTIVE SUMMARY:
A complete review of all facets of the Hassayampa Facility has been completed. Production capacity varies from area to area, from a low of 40 ton to a high of 190 tons per day.
Quality Control procedures have been introduced such that through multiple sampling at each step in the process recovery of PGMs will be known. By comparing these analyses we will have early indication of our recovery efficiency at each step.
On October 28/29, 15 tons were screened, ball milled and leached. These steps in the process are fully functional with a capacity in the range of 120 - 190 tons / day.
Analysis of the leach liquid indicates a combined gold and PGM content in excess of 10 oz per ton of head ore. The precipitation phase indicated similar results but due to its chemistry the precipitate may require an adjustment to the firing and subsequent steps.
All equipment, reagents, etc. will be in place by Monday, November 16, to allow for the resumption of continuous production.
/s/
Mike McKay,
President, MDM Insurance Services Inc.
Posted with permission of Mr. McKay
The standard disclaimer shall appear with post to PRNEWSWIRE
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