Black Hawk Mining Inc. - announces ore reserves at the Redstone Nickel mine.TORONTO--(BUSINESS WIRE)--March 13, 1995--BLACK HAWK MINING INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. .(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : BHK BHK Baby Hamster Kidney BHK Bukhara, Uzbekistan (Airport Code) BHK Bedroom Hall Kitchen (rental properties) BHK Bachelor of Human Kinetics (degree) BHK Brouwer-Heyting-Kolmogorov ) Black Hawk Black Hawk (born 1767, Sauk Sautenuk, Va.—died Oct. 3, 1838, village on the Des Moines River, Iowa, U.S.) Sauk Indian leader. Long antagonistic to whites, Black Hawk was driven into Iowa from Illinois in 1831. has completed a $400,000, 25 hole diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral program on its Redstone Nickel mine located in Timmins, Ontario testing the downward extension of the known ore zone between the 700 and 1100 foot levels. This program was partly funded with a $100,000 Ontario Mineral Incentive Grant. The results were extremely encouraging and Black Hawk has established two years of proven and probable reserves at a planned production rate of 300 tons per day at a grade significantly higher than the historic mined average. The 1994/95 drilling program outlined undiluted reserves of 154,598 tons averaging a 4.21 percent Ni at a 1.0 percent cut-off. After allowing for dilution (30 percent at 0.2 percent Ni) proven and probable reserves to the 1100 foot level are summarized as follows: -0-
Tons (Tonnes) Grade ( percent Ni)
------ --------- --------------------
Proven 70,821 (64,248) 2.57
Probable 130,156 (118,077) 3.67
Total 200,977 (182,325) 3.28
The undiluted cobalt grade is 0.038 percent. Considerable potential exists to develop substantial additional reserves between the 1100 and 2400 foot horizons where two diamond drill holes, drilled in 1989, intersected 2.76 percent Ni across 19.5 ft. and 5.28 percent Ni across 6.7 ft. In addition, potential for additional reserves exists along the strike of the main ultramafic/dacite contact which hosts the Redstone mine. A feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. , permitting and negotiations for milling capacity are currently underway with the objective of reopening the mine prior to year-end. Black Hawk Mining Inc. owns a 100 percent interest in the Redstone nickel mine subject to a 2 percent net smelter return royalty (to a maximum of $337,500). CONTACT: Gordon F. Bub Chairman and Chief Executive Officer 416/363-2911, Ext. 226 or Colin K. Benner, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. 416/363-2911, Ext. 224 |
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