American Bullion Developing New High Grade Geological Model.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--March 6, 1998--American Bullion BULLION. In its usual acceptation, is uncoined gold or silver, in bars, plates, or other masses. 1 East, P. C. 188. 2. In the acts of Congress, the term is also applied to copper properly manufactured for the purpose of being coined into money. Min(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. .) The Board of Directors of American Bullion Minerals Ltd. ("American Bullion") is pleased to provide the following update of the Company's ongoing Pre-feasibility Engineering work. A new Pre-feasibility Study was initiated in December 1997 and is on schedule for completion in June 1998. New geologic resource estimates for the project which focus on the higher grade core zone will be completed and released in approximately 30 days and will provide the basis for a completely new mine plan and new mine economics. American Bullion's engineering staff have found indications that copper and gold grades within the high grade core of the Red Chris ore zone exceed the values assigned in the existing block model for the previous mine plan. A recently completed internal review of the calculated grades in the existing block model and actual grades recorded in the raw data highlighted that 'core zone' grades were likely down-graded as a result of previous geostatistical work. 'Raw data' used in this comparison includes previously released sample interval assay information obtained from drilling carried out in 1994 and 1995. The review considered a number of drill hole intervals at various depths and locations throughout the core zone. The existing block model was properly developed to model a very large disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. copper porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. style deposit and as such imparts a certain amount of 'smoothing' or averaging of grade over the previously planned project (in excess of 500 million tonnes). It may lack, therefore, appropriate geological constraints CONSTRAINTS - A language for solving constraints using value inference. ["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)]. on the higher grade core zone, which may have yielded an underestimate of actual grades for the new mine plan which focuses primarily on the 'higher grade' core zone, previously estimated to be 210 million tonnes, as announced on November 19, 1997. As a result of the project's focus on the higher grade core zone and the observations described above, Management has undertaken to develop a completely new geologic model, leading to a new resource calculation and a new block model. The foregoing news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others those described in the Company's annual report on Form 20-F, including among others, the following: uncertainties related to early stage of development, technology and product development; dependence on future corporate collaborations; dependence on proprietary technology and uncertainty of patent protection; management of growth; future capital needs and uncertainty of additional funding; intense competition; manufacturing and market uncertainties; government regulation; product liability exposure and insurability. -0- The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has not reviewed and does not accept resposibility for the adequacy or accuracy of this release. CONTACT: American Bullion Minerals Ltd. Charles H. Wills, 604/622-4400 604/622-4444 (FAX) Investor Relations Investor relations The process by which the corporation communicates with its investors. , 800/403-2940 |
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