Does anyone know what this is worth?
A.C.A. Howe Confirms Medinah Gold Values
Howe Chile Limitada (A.C.A. Howe International Consulting Inc.) confirms Medinah gold values in the Andacollo properties, Andacollo, Chile.
Howe Chile Ltda. (Howe) recommends a $1,350,000 drilling and development program.
In their in-depth report to Sierra La Plata S.A. (Medinah's wholly owned subsidiary in Chile). Howe highlighted the following:
1. Two primary target areas for development:
- La Colorada, with zones 30 to 40 meters (120 feet) in width and strike zones of 250
meters (750) open in all directions and averaging 2.05g Au/ton.
- La Violetta, with gold outcroppings (0.28 million tons grading 1.29g Au/ton) and projecting south from the Dayton Mine on to Medinah claims.
2. Two additional target areas are:
- The Mercedes, with drilled probable reserves of 810,000 tons grading 1.25g Au/ton.
- The Toro, with probable reserves of 1.32 million tons grading 1.79g Au/ton.
3. Additional testing on other claims show gold values ranging from a low of 0.41g Au/ton to a
high of 3.12g Au/ton.
4. Howe concurs with the Chevron study, indicating 3,303,000 tons at 2.37g Au/ton from vein
material plus 3,430,000 tons at 1.31g Au/ton from manto structures, which remain to be
confirmed by further drilling.
5. Medinah's properties border the North and West edges of the Dayton Gold operation
(130,000,000 tons of ore grading 0.70g Au/ton) and includes six claims within the Dayton
boundaries.
6. Medinah now controls more than 1750 acres in the Andacollo field (approximately 2.75
square miles) with additional acquisitions under negotiation.
Further to evaluating and verifying data, Howe has completed the following field work:
- Established a 40 kilometer (24 mile) gridline
- Magnetic surveys over gridded areas
- Reconnaissance geological mapping
- 1000 feet of hand trenching
- 353 grab and channel samples
Given the above factors, Howe recommends a two phase program:
Phase I - Additional mapping, sampling, bulldozer trenching and geophysics surveying
Phase II - Drill testing on the target areas - 8000 meters (24,000 feet)
Cost of the above is projected at $1,350,000, funding of which is now in progress.
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