Battle Mountain Gold Co. posts year-end gold reserves; reports 4.7 million ounces of gold mineralization.HOUSTON--(BUSINESS WIRE)--Feb. 26, 1996--Battle Mountain Gold Co. (NYSE NYSE See: New York Stock Exchange :BMG BMG Bundesministerium für Gesundheit (Germand: Federal Ministry for Health) BMG Be My Girl BMG Blue Man Group BMG Bertelsmann Music Group BMG Be My Guest BMG Browning Machine Gun BMG Bulk Metallic Glass ) Monday said the company added approximately 735,000 ounces to its total, attributable, proven and probable contained gold reserves during the year and that it has another 4.7 million ounces in contained gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. under evaluation. BMG Chairman Karl E. Elers, said that the proven and probable reserve additions, put the company's total contained, attributable, gold reserves at approximately 7.7 million ounces, or slightly less than they were at this time a year ago. The additions replaced the 580,000 attributable gold ounces produced in 1995, and partially replaced an approximately 320,000 ounce decrease in the company's attributable contained reserves, some 250,000 of which resulted from the dilutive impact to BMG of the initial public offering of Lihir Gold Limited. The reserve additions include a total of approximately 320,000 ounces from oxide material at Llallagua, near the Kori Kollo mine in Bolivia, and some 415,000 additional ounces from gold associated with the Phoenix project at the Battle Mountain Complex in Nevada. The new Phoenix reserves bring the Battle Mountain Complex total to some 2.2 million contained ounces. Significant silver recoveries are also expected from the operation. All of the reserves were calculated based on $385 gold prices. The contained gold mineralization is located near three of the company's operating properties, and two development projects. It includes approximately 110,000 ounces at Crown Jewel Crown jewel A particularly profitable or otherwise particularly valuable corporate unit or asset of a firm. Often used in risk arbitrage. The most desirable entities within a diversified corporation as measured by asset value, earning power, and business prospects; in takeover ; about 525,000 ounces at the Phoenix project; some 400,000 ounces now indicated by ongoing drilling at the Vera project near the Pajingo Complex in Queensland, Australia; approximately 1.4 million ounces in sulfide sulfide, chemical compound containing sulfur and one other element or sulfur and a radical. Sulfides may be salts or esters of hydrogen sulfide, H2S, or may be formed directly, e.g., by heating a metal with sulfur. material at Llallagua; and about 2.3 million attributable ounces of gold at the Lihir project in Papua New Guinea Papua New Guinea (păp`  ə, –y .
All of this mineralization will require significant additional work to determine its ultimate quantity, grade, metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with and any potential economic feasibility, and there is no assurance that additions to reserves will result from any of these projects. Elers noted that there is potential for extension of the previously announced Vera mineralization, which is open on strike to the west, and at depth. Drilling is in progress with a five rig program. Priority is on testing the 500 meter gap on a shear shear: see strength of materials. Shear A straining action wherein applied forces produce a sliding or skewing type of deformation. structure between Vera and the Nancy prospect, located to the Northwest. Several other associated priority drilling targets have been identified in similar structures in the area and will be tested this year. The proven and probable reserves in hand are expected to provide for the company's production and announced growth over the next decade, while the mineralization and new discoveries may serve as the building blocks for significant additional growth, Elers said. CONTACT: Battle Mountain Gold Co., Houston Les Van Dyke Van Dyke (or van/Van Dijk or Dyk etc) is a surname of Dutch origin. It refers to:
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