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Gold/Mining/Energy : Goldminco Consolidated Mining Corp. GMC (was GMO)
GMO 0.01210.0%Jan 21 3:00 PM EDT
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To: Ron Everest who wrote (582)2/25/1999 1:17:00 PM
From: Ron Everest  Read Replies (1) of 588
 
Goldminco receives renewal for Alice River gold project

Goldminco Consolidated Mining Corp GMC
Shares issued 6,842,896 Feb 19 close $0.15
Thu 25 Feb 99 News Release
Mr. Peter Tambanis reports
Goldminco Consolidated Mining has received renewal from the Department of
Mines for a further 12 months on Permit No. 7566.
This permit surrounds Goldminco's 11 mining leases at its Alice River gold
project, Australia.
The Department of Mines stipulated that further exploration renewals will
be granted on demonstrable circumstances, such as good results from
Goldminco's pending deep drilling.
Following recommendations from its consultants, Goldminco will drill at
least two deep diamond drill holes to locate the source of the auriferous
quartz veins late this year following the commissioning of its mill.
Refurbishment work on the mill is running on schedule and on budget.
On the newly acquired property in New Guinea, work has started with
helicopter landing pads and camping sites nearing completion.
A vigorous sampling program will begin within two weeks on this project.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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