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Gold/Mining/Energy : L S Capital / Griffin Gold (OTC:BB CHIP) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (2759)	4/9/1998 8:24:00 AM
From: Chuca Marsh	Read Replies (2) \| Respond to of 3594

How'bout 0.0365 HEAD ORE OPT AU?http://www.lscap.com/press/a-0210.html >SIERRA MINERAL MANAGEMENT > > > R.F. Hewlett > 1839 N. China Lake, Ste. #153 > Ridgecrest, CA 93555 > > (619) 384-2647 Fax (619)371-4619 > > Feb 04, 1998 > > > > > Dear Paul, > > I am in receipt of fire assays and chlorine leach results from three > registered assay/geochemical laboratories; > > 1. ACT-Skyline (Tucson, AZ) [Fire Assay-Lead Collection] > > 2. Jacobs Assay Office (Tucson, AZ) [Fire Assay-Lead > Collection] > > 3. XRAL LABS (Toronot, Canada) [Chlorine Leach/Fire Assay > with Silver Inquart] > > One-ton of bulk-samples were previously taken from the COCHISE > COUNTY, AZ precious metal deposit and concentrated at the Black > Canyon Mill. I previously reported a preliminary estime of the ehad > ore grade computed from partial assay results (Feb. 04, 1998). This > report is an update with only the themral neutron activation results > and acid leaching geochemistry trace elements still outstanding. > > On the following page, all assays received to date are posted. Notice > that the XRAL chlorine leach has produced higher precious metal > values than the fire assays--which is to be expected. The next phase of > this metallurgical testing is to conduct bulk chlorine/bromine leaches. > > CONCENTRATE PRODUCT > WGT > Weighted Concentrate Grade > (Troy Ounces/Ton) > > > GOLD > SILVER > Magnetics > Table 1-Cut #1 > Table 2-Cut #1 > Table 2-Cut #2 > Cone Concentrate > 14.00# > 10.25# > 7.50# > 23.00# > 131.50# > 186.25# > 0.117 > 2.428 > 1.494 > 0.103 > 10.212 > 0.365 > 159.550 > 35.790 > 153.800 > 25.164 > 42.126 > 53.006 > weighted average > grades > > > > HEAD ORE GRADE: > > GOLD > 0.365 > 2000/186.25 > = 0.034 troy ounces GOLD/ton head >Chuc asks to stop and NOW LOOK at and read first Company Click on Who We Are / on the Left Side of Homepage@ lscap.com : > >><<..Newmont's average yield per ton moved is an extremely low .0069 oz per ton (1.63 million oz production divided..>> >>STRONG COST ADVANTAGES AND HIGH YIELDS >> >> These cost advantages occur at an especially opportune time. >> South African hard-rock gold mining has come under increasing >> cost and margin pressure, despite markedly lower labor costs than >> in North America. Average yield has fallen from 0.4 oz/ton in 1970 to >> less than 0.2 oz/ton by 1996. American producer Newmont, which is >> primarily an open pit, soft ore producer, achieves substantially lower >> yields from its several mines, averaging .109 oz/ton for its mill grade >> ores, and 0.023 oz/ton from its leach grade ores in 1995. Note that >> Newmont's average yield per ton moved is an extremely low .0069 KEY=HERE-CG98 oz per ton (1.63 million oz production divided by 237 million ------------------Tons of >> earth moved). Newmont offsets this yield disadvantage with heavy >> investment in capital equipment and process technologies, and is >> one of the world's lowest cost producers. Nonetheless, Newmont's >> cost/ton has risen steadily from $190/oz in 1991 to $223/oz in 1995, >> due to increasingly complex ores which require more sophisticated >> refining methods. Newmont has a high stripping ratio (ratio of waste >> removed to ore recovered), of about 5:1, which requires a large >> investment in capital equipment, and also requires a world-class >> drilling operation to identify suitable ore. That Newmont can >> compete as a low-cost producer is a tribute to the firm's >> competence, and illustrates what can be achieved from low-grade >> MPM deposits with heavy capital investments and sophisticated >> process technology. >> >> POTENTIALLY LARGE ORE RESERVES >> >> To illustrate the magnitude of the LS Capital DMO opportunity, >> consider first that Newmont's Carlin mines have produced 16 million >> total ounces of gold since 1966. Using current recovery methods, >> Newmont reports remaining reserves of 20 million ounces, with an...>>>> Chucascrapemighthelp