From PDG news releases found on their web page.
Placer Dome to Sell Interest in Cerro Crucitas Project
May 05, 1998
Vancouver, Canada - Following completion of a successful exploration program,
Placer Dome has concluded that the Cerro Crucitas gold property in northern
Costa Rica does not fit its strategic objectives. A process has been started to
divest the Corporation's interest and exploration and project work has been
discontinued. Since the grassroots discovery in 1992, Placer Dome has identified
a measured and indicated resource of more than 2.5 million ounces of gold and
results of recent drilling will add to this resource.
John Willson, President and Chief Executive Officer, said: "We recently
completed a drilling program and the results have been carefully evaluated. It was
decided that the property does not meet our criteria for advancing the project
further. We believe Cerro Crucitas will be a mine, but not a mine that fits Placer
Dome's strategy."
Placer Dome Reports Results for Excellent Operating Year
February 18, 1998
At Cerro Crucitas, more than 1,600 metres of drilling in two target areas resulted in
the discovery of a new deposit, Conchudita, 10 km from the known deposit. A
second round of drilling on Conchudita has been initiated. Drillholes and
trenches at Conchudita show mineralized intervals of up to 41 metres at 2.8 grams
of gold per tonne with the potential to add 1 million ozs. of high-grade ore to the
project. The current measured and indicated resource at Cerro Crucitas is
estimated to be 2.2 million ozs. of gold. |
