Here's the numbers:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: ECU GOLD MINING INC.
ME SYMBOL: ECU
APRIL 15, 1999
ECU: Production Progresses
MONTREAL, QUEBEC--ECU Gold Mining Inc. - During the month of
March, the company processed a total of 13,476 tonnes of ore, an
increase of 19 percent with respect to the preceding month.
During this period, the average grade of ore processed at the mill
was 127.2 g/t Ag and 1.16 g/t Au, respectively, that is, an
increase of 18 percent in the average grade of silver and of 4
percent in that of gold, compared to the preceding month. These
production increases should continue during the coming months.
The company currently employs 177 people in Mexico.
During the month, the company began evaluating a new chimney-type
vein located north of the main mine. This vein was intersected on
levels 12 and 14. It is open and easily accessible on levels 15,
16, and 17. 57 channel samples were taken on levels 12 and 14,
widths varying from 0.47 to 2.85 meters and grades varying from
290 to 375 g/t Ag and 2.29 to 4.87g/t Au. It has been noted that
this structure is better developed on level 14. To date, the
company is working on two of those chimney-type veins, one central
and another to the north, the central being the most significant.
The assays were carried out at the company's laboratory by fire
assay.
Moreover, the development program undertaken by the company is
still underway. The company is satisfied with the progress made
during the first quarter of the year and remains confident it will
reach its objectives. During the second quarter, the company
expects to process a total of 45,000 tonnes of ore at its mill, a
production that the company will increase progressively to reach
55,000 tonnes of ore processed per quarter, toward the end of
1999. In addition, the company anticipates that, by the end of
the year, operations in Mexico will generate a cash flow of $1.0 M
US per quarter. For the second quarter, the company expects to
generate a cash flow of $0.3 M US. |
