Atacama Minerals Announces Results of Reserve Study.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 25, 1997-- Atacama Minerals Corp. (VSE See DOS/VSE. VSE - Virtual Storage Extended :AAM n. 1. A Dutch and German measure of liquids, varying in different cities, being at Amsterdam about 41 wine gallons, at Antwerp 36½, at Hamburg 38¼. ) (the "Company") is pleased to announce results from its reserve study conducted on its Aguas Blancas Aguas Blancas (Spanish: "white waters") may refer to:
In early 1997, a drilling program was commissioned under the supervision of Pincock Allen & Holt in support of the reserve study. The objective of the drilling program was to fill in areas that had not been drilled previously and to verify iodine reserves and to add to sodium sulphate So´di`um sul´phate 1. A salt well known as a catharic under the name of Glauber's salt ltname>, which term is properly applied to the hydrate, Noun 1. reserves. One hundred new holes were drilled to a depth of 7 metres and analyzed at one-half metre intervals. The study has defined geological resources of 97,356,000 metric tons of iodine ore and 36,730,000 metric tons of sodium sulphate ore. Pit reserves total approximately 27 million metric tons of ore containing 15,000 metric tons of iodine and 4,500,000 metric tons of sodium sulphate. The in-pit resource will support plant production for over 21 years. The overall geological resource indicates that additional years of production or higher production rates may be achieved. A new 60 hole drilling program is in progress to further define the resource. Phase 1 Basic Engineering for the Aguas Blancas project was recently completed by Bateman/Parsons. Atacama is now moving to initiate detailed engineering with construction startup scheduled for January, 1998. Initial production is scheduled for early 1999. At capacity the Aguas Blancas plant will produce 1,000 metric tons of crude iodine, 300,000 metric tons of sodium sulphate and 70,000 metric tons of potassium nitrate per annum Per annum Yearly. . Iodine is currently in short supply on a world wide basis with prices over $20 per kilogram widely reported. Atacama plans to become the major regional supplier of high purity detergent grade sodium sulphate which is also in tight supply in Latin America as consumption of powdered detergents continues to show sustained growth. -0- Note to Editors: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Atacama Minerals Corp. Sophia Shane, 604/689-7842 |
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