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Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (12395)	8/19/1998 11:46:00 PM
From: GC	Read Replies (1) \| Respond to of 34075

More results from ORV.TO in Bolivia , I like the part where , they mention open pit mining. VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Aug. 19, 1998--Orvana Minerals(TSE:ORV. - news) Orvana Minerals Corp. (ORV-T) announces the results of an undiluted geostatistical resource estimate for the Lower Mineralized Zone (LMZ) at its 100 percent- owned Don Mario gold-copper deposit in eastern Bolivia. The estimate, made by The Winters Company, of Tucson, Arizona is as follows: Category Tonnes Gold Grade Ounces g/t Gold Measured 802,198 13.70 353,000 Indicated 514,404 12.48 206,000 --------- ------- 1,316,602 13.22 559,000 Inferred 140,453 14.38 65,000 The estimate is based on 157 holes, including 51 in-fill drill holes completed as part of the 1998 feasibility study, giving a nominal diamond drill hole spacing of 25 to 35 metres. Approximately 90 percent of the resource is in the measured and indicated categories. The small amount of inferred resource is at the down-plunge extremity where hole spacing is somewhat greater than average. Although the zone is thinner, the grade is somewhat higher in this area and the mineralization is unbounded. The limits of the drilled vessel considered in this estimate are similar to those used for estimates announced prior to the 1998 program. In other words, all the 1998 drilling was internal, for resource estimation purposes and there was no attempt to materially add resources. This geostatistical estimate and a manual cross-sectional polygonal estimate announced last year show a remarkable similarity, although the two cannot be strictly compared because of the different methodologies used in making the estimates. For general comparative purposes however, the totals of all categories for the estimates are: Geostatistical: 1.46 million tonnes grading 13.3 grams Au/t undiluted Manual: 1.47 million tonnes grading 12.9 grams Au/t. The latter included 25 percent dilution with 1.15 grams Au/t and assumed 95 percent extraction. The Winters Company is currently working on a design for mining of the LMZ, the majority of which will use mechanized underground methods. A small open pit to extract the near surface portion of this zone is also planned. Mine development and operating costs determined by this study will be used to establish a mineable reserve estimate.