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 : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (2771)	1/29/1998 10:07:00 AM
From: Jeffery E. Forrest	Respond to of 4571

Brush Creek Encounters High Grade Gold in Bachels Raise; Pillar 4 Development Continues BusinessWire, Thursday, January 29, 1998 at 09:47 GRASS VALLEY, Calif.--(BUSINESS WIRE)--Jan. 29, 1998--Brush Creek Mining and Development Co., Inc. (NASDAQ:BCMD)(the Company) today announced that exploration in the Bachels Raise which is approximately 60 feet to the South of the Golden Gate Ore Shoot encountered high grade ore. The high grade ore was initially discovered using metal detecting devices; subsequently the Company's geologist visually confirmed the presence of the gold, and spent a short time extracting high grade gold by hand. Specimens obtained by Arthur Smith, the company's geologist, included fist sized chunks of quartz with gold bands from 3/4 to 1 inch in width. The exploration was done in an attempt to confirm the possibility of a parallel ore shoot to the Golden Gate Ore Shoot. Odin Strandberg, JR., P.E., the Company's consulting mining engineer, stated, "The results of our continued exploration to the south of the Golden Gate Ore Shoot are very gratifying. In conjunction with the work that we are currently doing in the Pillars, the continued development of this new high grade find, which may confirm the existence of a parallel ore shoot to the Golden Gate Ore Shoot is our highest priority." James S. Chapin, CEO and Chairman of the Board, stated, "We intend to aggressively pursue the trail of high grade to determine if we have encountered a parallel ore shoot." In other news the Company reported that it is actively developing Pillar 4, which is one of 10 Pillars reported to exist above the Cassidy Level of the Lower Brush Creek Mine. Pillar 4 abuts the Golden Gate Ore Shoot. As a result of work done in the upper third of the Pillar, Odin Strandberg, JR., P.E., reported that, "Encouraging gold occurrences have been encountered. While we have not yet milled enough tonnage from Pillar 4 to establish a grade, the gold occurrences when combined with the presence of galena and pyrite are promising." The Golden Gate Ore Shoot in the Lower Brush Creek mine averaged over 1 oz. of gold per ton milled. Brush Creek controls nine mines in the Alleghany-Downieville gold district of Northern California, which produced more than 12 million ounces of placer and 2 million ounces of hard rock gold. It also controls more than 4,000 acres of potentially diamondiferous ground near La Porte, California.