Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Consolidated Silver Tusk Mines Ltd. -- Ignore unavailable to you. Want to Upgrade?

To: Brian MacDonald who wrote (2197)	7/11/2000 10:34:18 PM
From: Randy	Respond to of 2229

CONSOLIDATED SILVER TUSK MINES LTD. ("CKS-V;CSITF-L") - Approval for Open Pit Mining Plan for Sumatra Project The management of Consolidated Silver Tusk Mines Limited takes pleasure in announcing that it has received written approval from the Department of Mines and Energy, The Directorate General of Public Mining and The Directorate of Public Mining Engineering in Indonesia, for its proposed open pit mining plan designed for the Company's KBU gold, silver and manganese project in Sumatra. A comprehensive 150-page feasibility study was prepared and submitted to the Mines and Energy Department earlier this year, outlining the KBU property geology, up to date exploration activities, ore deposits, the new open pit mine plan, environmental impact studies and on-going exploration. With the approval of the feasibility study now in hand, the Company can proceed with open pit mining activities as planned, and will complete the newly designed production mill on site. This production mill will facilitate in excess of 500 tonnes of production per day and will form an integral part of the new open pit mine plan comprising of three designated open pit areas together with the old existing mine tailings which contain high quantities of gold, silver and manganese. The production mill will allow for the simultaneous recovery of gold, silver and manganese sulfate and based on conservative estimates is expected to recover 89% of the gold, 85% of the manganese and 55% of the silver overall. Improvement on the initial recovery ratios is expected during the first few months of operations. Initial revenue generated is conservatively expected to be approximately US$450,000.00 + per month (Au = USD$275.00 per ounce) at a 500 tonne daily production ratio on pit #1 over a six-year term, the first of three such pit areas included in the new mine plan.