Chivor Reports First Commercial Production at Its Oriente Mine.TORONTO--(BUSINESS WIRE)--March 7, 1997--(CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. CHIV.U ) Chivor is pleased to announce that it has achieved the first commercial scale production of emeralds at its Oriente mine in the Chivor district of Colombia, S.America. This production has occurred from a vein system recently discovered on the new Dixon level. To date emerald emerald, the green variety of beryl, of which aquamarine is the blue variety. Chemically, it is a beryllium-aluminum silicate whose color is due to small quantities of chromium compounds. production from this vein is about 4700 carats of all qualities. The company plans to market its production initially as rough or uncut through traditional local outlets. The majority of Colombian emeralds are cut in Bogota before being marketed to the world's jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. industry. The Dixon level has been under development for several months to access the unit 5 'manto' or emerald bearing structure 15 metres below previous workings. Development has been slower than expected due to difficult ground conditions and problems with the mechanized mech·a·nize tr.v. mech·a·nized, mech·a·niz·ing, mech·a·niz·es 1. To equip with machinery: mechanize a factory. 2. equipment. Horizontal lateral lateral /lat·er·al/ (-il) 1. denoting a position farther from the median plane or midline of the body or a structure. 2. pertaining to a side. lat·er·al adj. 1. tunnels are currently being driven in the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. of the unit 5 manto in both directions from the Dixon adit. Crosscuts are being driven through the manto and it was from the first main crosscut that this vein system was encountered. Current geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. information suggests that this vein system should prove to be quite extensive, with the potential for substantial additional emerald production. Additional working areas will be opened up on the Dixon level as development permits. Meanwhile new veins continue to be located in the traditional workings of the mine. These are mined on a systematic basis. Two diamond drills are being used to define the manto, and locate veins. Chivor was established in 1996 following acquisition of an 80 percent interest in the Oriente mine, together with options to acquire a 90 percent interest in a large land package covering much of the area considered favourable for the discovery of additional emerald producing operations. Over the past year the mine has been modernized mod·ern·ize v. mo·dern·ized, mo·dern·iz·ing, mo·dern·iz·es v.tr. To make modern in appearance, style, or character; update. v.intr. To accept or adopt modern ways, ideas, or style. and expanded, with the main objective of opening up workings at deeper levels where no previous activity has occurred. The benefits from this are now starting to be realized. A regional exploration program covering the 38 sq.km land package has been completed. Chivor will conduct more detailed geological work followed, as necessary, by drilling to locate the emerald bearing structure and veins. Please note the new address for the Toronto office. Telephone, fax and e-mail numbers remain unchanged. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Chivor Emerald Corporation Ltd. Patrick J. Mars, 416/955-4494 416/955-1206 (FAX) or Chivor Emerald Corporation Ltd. Steven A. Dawson, 416/955-4494 416/955-1206 (FAX) |
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