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Gold/Mining/Energy : ECM.VSE - El Callao Mining. -- Ignore unavailable to you. Want to Upgrade?

To: grampa who wrote (1209)	3/29/1999 8:11:00 AM
From: gmweber	Read Replies (1) \| Respond to of 1253

grampa These two news releases may answer your question. Venezuelan permit; milling contract El Callao Mining Corp ECM Shares issued 22,545,185 1996-04-12 close $1.73 Monday Apr 15 1996 Also Monarch Resources Ltd (MRE) Mr Clive Johnson reports All permits have now been issued for commercial gold production at the La Victoria deposit on the Lo Increible property. A milling contract has been signed with Monarch Resources for the processing of the La Victoria ore. Beginning this week, El Callao will start site preparation activities leading towards ore deliveries in two to three weeks. It will open-pit mine and deliver up 10,000 tonnes per month to the Revemin mill, operated by Monarch. The mill is five kilometres from the La Victoria property. The average grade of ore to be delivered is calculated to be in excess of 8 g/t yielding 26,000 ounces of gold per year. El Callao anticipates its share of positive cash flow to be $300,000 per month. These funds will be utilized to further advance exploration and feasibility at the La Victoria and La Cruz deposits where shallow drilling has outlined geological reserves of 840,000 ounces of gold to date. Bema Gold is the largest shareholder of El Callao and manages its affairs. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com El Callao Mining Corp - La Cruz and La Victoria drilling results El Callao Mining Corp ECM Shares issued 32,342,185 1996-10-22 close $2 Wednesday Oct 23 1996 Mr Clive Johnson reports The company has received encouraging results from its latest diamond drilling program on the La Cruz and La Victoria zones at the Lo Increible gold property in Venezuela. These drilling results indicate the potential to significantly expand the previously announced geological resource of 850,000 ounces of gold. La Cruz Zone Based on the new drill holes listed below and previously released holes ER 96-105-107, the potential of the La Cruz zone has increased dramatically. Drill Results from La Cruz are as follows: From To Interval Grade Hole (m) (m) (m) g/t ---- ---- --- -------- ----- ER96-105 91.00-110.00 19.00 4.42 incl 93.40-101.00 7.60 8.19 ER96-106 124.00-138.00 14.00 4.69 ER96-107 146.00-149.00 3.00 7.18 and 217.00-224.00 7.00 5.03 lower zone ER96-109 126.80-132.00 5.20 13.33 ER96-113 62.00- 65.00 3.00 4.89 ER96-115 79.00- 83.00 4.00 5.34 ER96-118 232.50-235.50 3.00 3.94 and 315.00-320.10 5.10 3.58 lower zone ER96-119 151.00-168.00 17.00 6.45 incl 158.00-164.00 6.0 11.71 ER96-121 90.00- 97.00 7.00 5.73 incl 93.00- 96.00 3.00 10.00 The La Cruz zone has now been tested with a total of 29 holes along a strike length of 500 metres. The zone trends east west with a variable dip of 45 degrees - 75 degrees to the south and is from 2 metres to 20 metres wide. This recent drilling indicates the zone extends down dip to at least 250 metres. Previous drilling had only tested the zone down dip to 70 metres. The La Cruz structure remains open to the east, west and down dip. This recent drilling and surface mapping have also confirmed that the La Cruz and the Tibaire zones are part of the same structure with a combined strike length of 1,500 metres. The Tibaire structure has been tested previously with 23 shallow holes and intersected mineralization similar to these encountered at La Cruz. Additional drilling is now planned on the Tibaire structure to undercut some of the previously encountered mineralized intercepts. La Victoria Zone At the La Victoria zone, 2km southwest of La Cruz, drilling has dramatically increased the dimensions of the southern mineralized ore shoot identified in previous drill campaign (LV94-76 and 77). Drill Results from La Victoria are as follows: From To Interval Grade Hole (m) (m) (m) g/t ---- ---- --- -------- ----- LV196-23 15.00- 35.50 20.50 12.53 56.50- 63.00 6.50 2.75 open at depth LV196-24 45.00- 50.65 5.65 3.87 LV96-123 181.00-198.00 mineralized zone assays pending 198.00-224.00 26.00 1.72 224.00-234.00 10.00 4.16 LV194-76 49.52- 57.05 7.53 15.56 73.14- 86.25 13.11 9.13 LV194-77 71.00- 75.25 4.25 4.93 90.10- 106.5 16.40 6.96 This drilling has shown that the grade and thickness of at least one of the two previously identified high grade ore shoots, is continuous from surface down structure at least 300 metres. Previous drilling had only tested this structure down dip approximately 150 metres. The zone remains open to the north and down dip. La Victoria has been tested with 69 drill holes along a strike length of 500 metres. The zone trends north south with a variable dip of 35 - 45 to the east and is from 5 metres to 25 metres wide. At least two ore shoots have been identified within this mineralized zone. El Callao has also ceased its small scale mining activities at La Victoria. The company will focus on exploration and feasibility drilling on both La Victoria and La Cruz. Exploration drilling will also recommence on the La Experienca zone, between La Cruz and La Victoria, where 17 previous shallow drill holes showed encouraging results. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com regards