A story that keeps getting better and better.
I decided to write up a quick report on this company because it is getting very little attention and because it has tremendous potential for short term stock price appreciation and long term profits.
Consolidated Trilogy Ventures (CTJ.VSE) was a small exploration company out of Vancouver which was in the business of aquiring and exploring property in Chile. The old CTJ website is still up and running.
More inforemation is available here.http://www.cons-trilogy.com
There is also a new website for TME. thyssen.bc.ca
Thyssen Mining has recently aquired a mojor interest in the Company and the name has been changed to Thyssen Mining Exploration TME.VSE. For more information on Thyssen Mining.
thyssen-gb.com They are a world class engineering and construction company focussed on mining and mine development.
TME has a number of properties in Chile and Argentina. This report will focuss on the
"The Churqui Project: Acquired in July 1997. Phase I and II of the drilling program continued throughout the latter part of 1997, proving 241,000 tons of ore at 2.2%CU. An agreement with Thyssen Mining has enabled Trilogy to purchase mining equipment at a favorable price. The company is currently setting up mining operations to begin in February. The area explored to date is only 20% of the total area of the property. Furthermore, the company is actively acquiring property in the surrounding area. Exploration to prove further reserves will continue through 1998."
July 1977
VANCOUVER, B.C. - Richard N. Jeffs, President of Consolidated Trilogy Ventures Ltd., is pleased to announce that the company has completed negotiations to obtain a 2.4 square kilometer claim block known as "Churqui" located approximately 35 km south of the city of Vallenar, III Region, Chile.
The company has an option to purchase the property on the following terms. The term of the option is 30 months during which Consolidated Trilogy will pay to the owners the following amounts: on signing, US$10,000; 6 months, US$15,000; 12 months, US$40,000; 18 months, US$60,000; 24 months, US$75,000; 30 months, US$200,000 for a total purchase price of US$400,000.
The company has completed a preliminary geological study on the property and the results obtained from this study are very encouraging.
The geology observed on the property consists of two andesite units contained within a limestone and sandstone package. The andesite units are gently folded and nearly horizontal. Between 2 and 5 meters at the base of the upper andesite unit were seen to contain significant copper and silver values. The copper minerals observed were atacamite, malachite, crysocolla and chalcocite. The mineral containing the silver has not yet been identified.
Artisanal miners have been extracting high grade copper and silver ores from numerous old workings located along the base of the upper andesite unit. The faces of these old workings were channel sampled and sent to Acme Laboratories in Santiago for assay. The results of this sampling program were as follows:
Number of samples taken: 23
Average Cu total: 2.00%
Average Cu soluble: 1.72%
Average Ag total: 1.20 oz/tonne
Average Face height: 1.53 m
The company intends to commence an RC drill program on this property within the next 2 to 4 weeks, depending on drill availability. The scope of the drill program is to drill approximately 40 short holes-average depth 25 to 30 meters-to test for the continuance of the copper and silver mineralization in the upper andesite unit and to drill 3 or 4 deeper holes to test for other andesite flows that may contain mineralization but are not visible on the surface. Because of the nature of the geology, the company believes that there is an excellent chance to develop a multi-million tonne economic copper and silver deposit. Consolidated Trilogy Ventures Ltd. is a mining and exploration company headquartered in Vancouver, B.C. Its operations are in Chile.
September 18th, 1997
On September 9, 1997 the company reported the significant assay results from the Phase I drill program conducted on the property. Ausdrill (Chile) is mobilizing to the site to commence the Phase II drill program on September 21, 1997 and it is expected that the drill program will commence on September 22, 1997.
The Phase II program will be to drill a minimum of 31 holes to an average depth of 30 meters and to deepen 5 holes that were drilled in the Phase I program, which were not drilled deep enough to intersect the potential mineralization horizon. A review of the Phase I drilling results has indicated that if the Phase II program confirms the presence of a mineral resource of 350,000+ tonnes, a portion of this resource may be conformable to open pit mining.
It is expected that the company will be able to release preliminary results from the Phase II program by the first week of October, 1997. Consolidated Trilogy Ventures Ltd. is a mining and exploration company headquartered in Vancouver, B.C. Its operations are in Chile.
November 05, 1997 TRADING SYMBOL: VSE-CTJ
VANCOUVER, B.C. - Richard N. Jeffs, President of Consolidated Trilogy Ventures Ltd. is pleased to report that an in-house pre-feasibility study has been completed on the Churqui Project located approximately 35 km south of the city of Vallenar, III Region, Chile and that this study indicates that the copper oxide resource announced on October 14, 1997 can be mined and processed at a profit.
Following is a summary of the key points of the study: The resource that has been identified to date is estimated to contain 243,000 tonnes grading 2.20% copper with a high grade section containing 148,000 tonnes grading 2.87% copper. The resource is contained in two sub-horizontal sedimentary sequences and is amenable to a low cost underground room and pillar mining method.
The thickness of the mineralized zones is, in most cases, greater than two meters thereby reducing potential dilution of the resource. Access to the resource is immediate, through old workings-the first material to be excavated from the mine is expected to be ore grade.
The processing system considered is a heap leaching system where the material will be crushed to -1/4", agglomerated, then placed on a pile and leached with sulfuric acid. The pregnant solution will be put through a precipitator containing scrap iron and the final product recovered will be copper cement containing 75 to 80% copper. The production rate used in the study was 5,000 tonnes per month, both mining and processing. At this rate, the resource will last a minimum of three years. It has been estimated that over the life of the project a grade of +2.50% copper can be maintained through selective mining and that recoveries will approach 80%.
Based on this criteria, it has been estimated that the mining operating costs will be $9.20 US per tonne and plant operating costs will be $11.00 US per tonne, a total of $20.20 US per tonne. The current market price paid by Enami for copper cement is $1.76 US per Kg. At the grade and recovery used in the study this yields a revenue of $35.20 US per tonne, an estimated operating profit of $15.00 US per tonne. At a production rate of 5,000 tonnes per month the operating profit is estimated to be $75,000 US per month.
The capital cost and working capital required to put the mine and plant into production has been estimated to be approximately $850,000 US. However, Trilogy has made an agreement with Thyssen Mining S.A., a subsidiary of Thyssen Mining Construction of Canada Ltd., of Regina, to purchase the majority of the mining equipment required for the project on very favourable terms. This equipment is valued at $400,000 US. Thus the capital requirement for the project is estimated to be $450,000 US.
The pro-forma cash flow statement prepared for the project indicates that the yearly cash flow to Trilogy will be approximately $600,000 US after all project charges. In addition to the above described resource, Trilogy has identified several other locations in the immediate area which are thought to contain similar resources which could significantly add to the mineral inventory held by Trilogy. Preliminary negotiations with the owners of these properties are currently ongoing.
December 22, 1997 TRADING SYMBOL: VSE-CTJ
VANCOUVER, B.C. - Richard N. Jeffs, President of Consolidated Trilogy Ventures Ltd., is pleased to announce that the company has closed the bill of sale for the acquisition of mining equipment from Thyssen Mining Construction of Canada Ltd. and its Chilean subsidiary in consideration of 650,000 common shares in its capital stock, US$360,000 payable at the rate of US$12,000 per month for 36 months from the month in which the company generates a net smelter return from mining its Churqui property in central Chile, and a 1.5% net smelter royalty. The shares are subject to a hold period that expires on December 4, 1998. The company intends to take possession of the equipment and begin its preparatory work at Churqui immediately, and to begin mining at the beginning of January and delivering ore to Enami, the state-owned smelter, by the end of January.
March 25, 1998 TRADING SYMBOL: VSE-CTJ
VANCOUVER, B.C.-Richard N. Jeffs, President of Consolidated Trilogy Ventures Ltd. is pleased to announce that mining operations have commenced on the company's Churqui property near Vallenar, Chile. Mobilization of all mining equipment has been completed. The company is now proceeding with the next phase of operations and expects to deliver its first ore to Enami, the Chilean state-owned smelter, within 21 days. The Churqui project, now called Mina Daniela, is expected initially to produce 300 tons per day, ramping up over a three month period to 500 tons per day. The opening of the Mina Daniella is the first step in Trilogy's business plan to open small, high grade copper and gold mines in Chile to finance exploration and drilling on larger targets identified by Trilogy's exploration team.
July 15, 1998
TRADING SYMBOL: VSE-CTJ
VANCOUVER, B.C.-Richard N. Jeffs, President of Consolidated Trilogy Ventures Ltd. is pleased to announce the delivery of the first copper ore from its Mina Daniela near Vallenar, Chile. The company is awaiting the assay and acid consumption results on the first truck load, but preliminary assays are 4.47% CuS with 3.5 kg of acid per kg of Cu. If the grade and acid consumption are consistent the mine can be profitable even at today's copper prices.
July 29, 1998
TRADING SYMBOL: VSE-CTJ
VANCOUVER, B.C.-Richard N. Jeffs, President of Consolidated Trilogy Ventures Ltd. is pleased to announce that, further to the company's news release on the Mina Daniela dates July 15, 1998, the company has now delivered 48 truck loads to the Enami plant in Vallenar, Chile, totalling approximately 1000 tons of ore. The company expects its first revenue cheque on August 1st. The pay schedule from Enami in July was $0.75 per pound of copper. With the recent increase in copper prices, we expect this to be higher in August.
November 2, 1998
TRADING SYMBOL: VSE-CTJ
Daniela Mine, Region 3 Chile. Following a successful bulk sample taken earlier this year, further channel sampling in the manto has yielded assay results higher than expected, with values ranging as high as 7% copper and 13 ounces per tonne of silver. Exploration continues with the objective of outlining a mineable reserve in excess of 2 million tonnes at grades greater than 3% copper and 2 ounces per tonne of silver. The purpose of this reserve development is to delineate sufficient ore to allow the development of a mine with a sustainable production rate in excess of 1,000 tonnes per day. drilling of the known manto, and deep drilling to test for additional manots.
Jeff Sample, P. Geo., the company's vice president of exploration, states that, "We have obtained a much clearer model of the Daniela's geology from the recent sampling, leading us to believe that the continuity and grades of the manto are significantly better than first anticipated. We feel that the regional geology and topology strongly suggest that the mantos extend over a significant area."
Jeffro Property, Region 3 Chile. Trilogy is pleased to announce the acquisition of approximately 30 square kilometers of lands to the east of Vallenar. The acquisition follows a grass-roots surface mapping program by Trilogy's geologists. Preliminary evaluation of the property reveals a complex andesite breccia with a prominent matrix of specular hematite. This type of breccia is particularly reminiscent of the geological environment that hosts the copper-gold-uranium deposit at Olympic Damin Australia. Initial analysis of grab samples has revealed values of 2 grams per tonne of gold. Trilogy plans an extensive program of surface geological mapping and ground magnetics to establish drilling targets to proceed with an extensive drilling program.
Andy Fearn, P. Eng, president of Trilogy commented, "With these ongoing projects and our continued program of high waulity property acquisitions, including two properties in negotiations, we believe we are signficantly enhancing our shareholders' value, and that this will continue as we take our projects to subsequent stages of development."
December 9, 1998 TRADING SYMBOL: VSE-CTJ VANCOUVER,B.C.
Andy Fearn, president of Consolidated Trilogy Ventures Ltd, is pleased to announce that a diamond drilling program at the company's Churqui property near Vallenar, Chile is 75% complete and proceeding on schedule with 14 holes drilled to date varying in depth of between 40 to 100 metres.
The drilling is designed to give better definition of the strata bound copper silver ore body that was bulk sampled earlier this year. Previous channel sampling of the underground workings has revealed significant unexpected copper sulfide mineralization and silver content. Accordingly, this drilling program is designed to assess the continuity of this mineralization across the property.
In addition, a deep hole in excess of 400 meteres has been drilled to explore the potential of further, deeper mineralization. Preliminary results of the core logging reveal: 1. Mineralization is present at the property to a depth in excess of 400 metres; and 2. The copper sulfide/silver manto mineralization appears to be continuous across the property. Core is currently being logged and split and samples sent for assay simultaneously with drilling. It is anticipated that the first stage of drilling will be completed shortly and that results of the sampling are expected in early January.
Extractive metallurgical testing of representative sulfide samples taken from the underground workings is beind conducted simultaneously with the drilling to determine the anticiapted recoveries of metals from this type of ore. The primary objective of this program is to outline mineable, shallow reserve of ore, grading in excess of 3% copper and 2 ounces per tonne of silver, that will be sufficient to support the construction of a suitable milling facility. Subject to assay results, further drilling and preparation of a feasibility study are anticipated to commence late in January 1999.
January 25, 1999
TRADING SYMBOL: TME.V
EXPLORATION UPDATE
VANCOUVER, B.C.-Thyssen Mining Exploration Inc. (TME) is pleased to report the progress of the ongoing exploration of the Churqui property near Vallenar, Region 3, Chile.
The diamond drilling programme previously announced was completed on January 8, 1999. Twenty-three holes totalling 2, 163 meters were drilled. Of these holes, 21 were drilled to relatively shallow depths (less than 100 meters), over one square kilometre of the property. The purpose of these holes was to confirm the presence of the manto and provide samples for detailed assay and mineralogical assessment. Two deeper holes were drilled (400 meters and 175 meters), both of which were for interpretation of the regional geology and the genesis of the copper mineralization. TME's geologists believe that the source of the copper mineralization found in the manto is likely a large porphyry type deposit from which the manto copper has been leached and subsequently deposited in a volcanic breccia creating the manto.
All core has been logged, split and samples sent for assay. The results of these assays will be available in mid-February. Following the analysis and interpretation of the drilling data, TME plans to carry out a further stage of drilling to develop a minable reserve of manto ore, and commence a program of deep magnetic and geophysical exploration to further identify deeper porphyry targets.
As part of the ongoing exploration efforts, a sample of manto material was recently sent for metallurgical testing by Lakefield Research Chile SA. These results have been received and are very favourable. Flotation of the sulphide ore has yielded recoveries exceeding 90% of both copper and silver in the concentrate. The ore is suitable for leaching should that method prove more economically viable.
TME holds 31 square kilometers of claims in the area adjacent to Churqui. TME intends to continue the exploration of these properties to both develop a minable reserve in excess of 2 million tonnes of manto-type ores containing copper and silver at grades of 3% and two ounces per tone respectively, and continue to explore for a large porphyry-type deposit that TME believes is the source of the mineralization found in the manto.
For additional information, please call
Allen Wilson or Phil Gurat
1-800-398-1409 or (604) 664-0502
Fax (604) 682-6509 Email: info@thyssen.bc.ca <mailto:info@thyssen.bc.ca> |
