ZINC The base metal. News and Views. Symbol Zn Message Board

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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn

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To: Claude Cormier who wrote (49)	2/8/1999 1:10:00 PM
From: Ray Hughes	Read Replies (1) of 3270

Claude: Auspex is about to become a 20-F filer in the United States which requires that we conform to U.S. definitions for mineral bodies. Pending the completion of drilling under our currently ongoing feasibility study we will refer to "mineralized rock" until qualified persons have determined the exposure to the mineralized rock through drilling and/or mine openings to be of sufficient quantity to determine "reserves" to U.S. definition. Please note that we already have data from over 160 drill holes in the two deposits that will be mined first. That said, the Aljustrel project pre-feasibility study states that the project has 17.6 million metric tons of "mineralized rock" with average grades of 5.81% zinc, 2.06% lead and 0.30% copper. Furthermore, assays of recent drilling in the Estacao deposit returned 66 grams/tonne silver. Estacao is a fault-displaced extension of the Feitais deposit. Assays from 1998 drilling in the Feitais deposit returned silver values of about 66 grams/tonne with some materially higher (3 OPT). We expect completion of the bankable feasibility study, containing "reserve" estimates to U.S. standards, late this year. RH

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