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 : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Mike Gold who wrote (5167)	8/10/1998 2:26:00 PM
From: jack	Read Replies (1) \| Respond to of 25548

Has anyone that spoke to ralph recently, been given an updated as to when as stated " a larger suction dredge with appropriate equipment for treating concentrates" will be "mobilized"? I'll call Ralph if no one knows, but thought I'd ask for anyone's thoughts first. Thanks inadvance Jack Wednesday July 8, 1:04 pm Eastern Time Company Press Release Medinah Energy Inc. Announces New Phase of Mining Development Near Santiago, Chile LAKE ELSINORE, Calif.--(BUSINESS WIRE)--July 8, 1998--The intensive field work of recent months in Chile was focused upon (1) delineating and developing potentially commercial portions of the extensive gold placers along the Puangue River and (2) re-opening of the idle underground gold mines with the intention of shipping crude ore to the ENAMI smelter facility owned and operated by the Chilean Government. The presence of commercial gold values at the Puangue River are reported to be confirmed. Along this river, Company concessions extend for more than ten kilometers. Paul Jones, V.P, Mining and Exploration reports, ''I am expecting significant gold production just as soon as we can mobilize a larger suction dredge with appropriate equipment for treating concentrates. A new excavator that has just been delivered will greatly enhance our productive capacity.'' A geochemical exploration program between the Catan Mine and the Santa Lucia Mine yielded two virgin gold veins. The Santa Maria vein assayed on surface, 6.00 grams of gold per ton and 28 grams of silver per ton over a width of 0.4 meters at the discovery cut. The Santa Monica vein yielded 0.55 grams of gold per ton and 2.6 grams of silver per ton over 1.6 meters at the discovery cut and 3.54 grams of gold per ton and 7.3 grams of silver per ton across 1.5 meters, 100 meters along strike. These veins were previously unknown. Work is continuing to provide access to and rehabilitation of the San Genaro gold mine to determine whether significant amounts of high grade gold ore can be mined by open pit methods. Information, provided to the Company by the property owner, indicates high grade gold values in both the hard rock and placers. In December, 1990 the owner shipped 16.9 metric tons that assayed 23.10 grams of gold per ton and 45 grams of silver per ton. A second shipment of 12.8 metric tons a year later, assayed 16.2 grams of gold per ton and 30 grams of silver per ton. Original intentions for early production from the Catan property have been modified to incorporate a new approach to the vein systems. These systems may be amenable to open pit mining methods which are more economical than conventional tunnel and custom milling operations. Mr. Jones has recommended that the Company will be better served by installing its own mill. Medinah Energy Inc. has available a vat leach system, tried, proven, and operating in Pocone County, Brazil. Management concludes that the current data delivered by Mr. Jones, although positive, is as yet insufficient to determine the ultimate commercial capability of the Puangue placer grounds. Mr. Jones and his team, in the time allotted, have only been able to review a small portion of the Santiago placers and hard rock properties. A team of Independent North American geologists have been retained to further evaluate the Puangue placers, the open pit potential of the San Genaro, Santa Maria, Santa Monica and other gold veins, and expand upon the work done by Mr. Jones. For further information please contact investor relations: 1-888-572-0170 On behalf of the Board of Directors Per: Larry Regis, President Note: This news release may contain certain ''forward-looking statements'' within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Medinah Energy Inc., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future could differ materially from those anticipate in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading ''Risk Factors'' and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Contact: Medinah Energy Inc. Investor Relations 1-888-572-0170