Consolidated Viscount Resources & Guardian Enterprises; High Grade Mexico Mine Nearing Production.VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 7, 1996-- GUARDIAN ENTERPRISES (VSE See DOS/VSE. VSE - Virtual Storage Extended : GUD GUD goldfish ulcer disease. .) Consolidated Viscount viscount European title of nobility, ranking immediately below a count, or earl. The wife of a viscount is a viscountess. In the Carolingian period, the vicecomes were deputies or lieutenants of the counts (comes), whose official powers they exercised by delegation. (VSE: CVR CVR See contingent value right (CVR). .) Guardian Enterprises Ltd. (VSE: GUD.) and Consolidated Viscount Resources Ltd. (VSE: CVR.) report that development work is almost completed and the mill has been primed to begin production of the gold/silver deposit on the Las Coloradas Concession, Durango, Mexico. An earlier scheduled start of production was impossible due to heavy rains. The Las Coloradas Concession consists of 12,000 acres hosting a 5 km long shear zone, approximately 2.5 metres wide with an indicated depth of at least 700 metres. High grade vertical ore shoots occur along the shear. Thirteen mines were operating in the period from 1938 to 1940 along the 5 km structure until a major accident on the "El Hogar" mine virtually terminated all activity. "El Hogar" records show production grades as high as 2.96 oz gold and 18 kg silver per ton. Five old mines have been reopened and adits driven to reach ore shoots. These include the Santa Anita Santa Anita may refer to:
n. A rope with weights attached, used especially in South America to catch cattle or game by entangling their legs. [From American Spanish bolas, pl. and Escandalo adits and the Confital shaft, located near the site of the former El Hogar shaft. The Confital shaft will be excavated to a total depth of 170 metres and is currently down 100 metres. Water and power lines have been extended to the Confital shaft site. Access roads have been built and graveled, along with concrete drainage systems Noun 1. drainage system - a system of watercourses or drains for carrying off excess water system - instrumentality that combines interrelated interacting artifacts designed to work as a coherent entity; "he bought a new stereo system"; "the system consists of a and retaining walls to ensure year round use. Ore has been encountered in the four adits and is being stockpiled at the mill site for easy access. A recent ore shoot encountered in the Santa Anita adit graded 16 gr/t gold and 1,147 gr/t silver over 2.5 metres in the face as well as 2 gr/t gold and 160 gr/t silver in the wall. This ore shoot is 50 feet long on strike and at least 130 feet above the adit floor. Several hundred tons of lower grade ore has been removed from the Contrabando adit and stockpiled. This ore grades 6 gr/t gold and 360 gr/t silver over 1.5-2 metres, even though the actual working face has not yet been reached. The 100 ton per day mill has been upgraded to operate continuously at full capacity. Consolidated Viscount Resources and Guardian Enterprises, associate partners, jointly own 31.85 percent interest in Las Coloradas with an option to increase this to 57.35 percent. Leonard J. Harris, President. -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 accuracy of this release. CONTACT: Guardian Enterprises Ltd. Leonard J. Harris, 604/ 669-6807 or Consolidated Viscount Resources Ltd. Leonard J. Harris, 604/ 669-6807 |
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