Coleville Resources Limited - Production Figures Update.CALGARY, Alberta--(BUSINESS WIRE)--May 28, 1997-- Coleville (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). CLL CLL abbr. chronic lymphocytic leukemia CLL, n.pr See leukemia, chronic lymphocytic. CLL 1. Chronic lymphocytic leukemia 2. Cholesterol-lowering lipid .) UPDATE ON VENEZUELAN OPERATIONS W.A. Perry, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and director of Coleville Resources Ltd. is pleased to announce that the Pemon Concession in Venezuela from April 6, 1997 to May 12, 1997 has produced 414.75 carats of diamonds and 894.03 grams of gold. During this time, Coleville Resources utilized four of its sets of equipment. Collectively, the four sets had a total through-put of 1726.5 m3 in 1155 hours. Of the diamonds produced during this period, 27 stones were over 1 carat and the two largest were 5.20 and 3.50 carats. The average cubic meter Noun 1. cubic meter - a metric unit of volume or capacity equal to 1000 liters cubic metre, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms of processed material yielded 0.24 carats of diamonds and 0.5 grams of gold. Coleville will shortly be selling its diamond production which is expected to gross approximately U.S. $60,000. These dollar figures are estimates based on past sales. Coleville equipment #4 seems to be in a good area at present and has been the best producer. The through-put of 484.5 m3 of material produced 201.6 carats or 0.42 carats per cubic meter and 583.45 grams of gold or 1.2 grams per cubic meter. The value of the diamonds is estimated at U.S. $63 per cubic metre Noun 1. cubic metre - a metric unit of volume or capacity equal to 1000 liters cubic meter, kiloliter, kilolitre metric capacity unit - a capacity unit defined in metric terms based on past sales. Coleville plans to add two additional sets of equipment to the area where equipment #4 is now working and is also changing the size of its production hoses from 4" to 6" which will more than double the amount of through-put material and is expected to increase its production values Production values is a media term for "production cost." It refers to the professional look, or "polish," of a production. Factors that affect perceived production value may include video and audio quality, lighting, number of errors, and amount and quality of special effects. . Coleville is also currently negotiating to purchase additional heavy equipment and a gold concentrator for the Pemon tailings Tailings (also known as tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction of an ore. . UPDATE ON INDONESIAN OPERATIONS Coleville is currently examining the most recent geological and exploration data from its 45 percent owned Ojalali gold and silver prospect located in the Lampung Province, Sumatra, Indonesia. Information regarding progress on the Ojalali property will be forthcoming as soon as available. Approved on behalf of the Board of Directors by: "Signed" W.A. Peter Perry Peter Perry (November 14 1792 – August 24 1851) was a businessman and political figure in Upper Canada. He was born in Ernestown, Ontario (now Bath) in 1792. His father was a United Empire Loyalist from Vermont who had served with the Queen's Rangers and Edward , CEO and director. -0- NEITHER THE ALBERTA STOCK EXCHANGE NOR ANY OTHER REGUALTORY BODY HAS APPROVED OR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE. CONTACT: Silicon Capital Corp. Gerry Belanger, 403/205-3660 stockmkt@cadvision.com |
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