Crew Development: Perkoa Memorandum of Understanding.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Aug. 21, 2001 Metorex, Crew's (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRWVF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CRU.) (OSE OSE - Open Systems Environment :CRU.) (Frankfurt:KNC KNC Knowledge Navigation Center KNC Kensey Nash Corporation KNC Kawan Ng Cordero (Philippines: Flock of Lamb) .) mining subsidiary in southern Africa, has announced that the Burkina Faso Government has agreed to the broad terms of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. as requested by Metorex. Signature of this agreement forms the basis of the Mining Lease and allows Metorex to proceed with the final feasibility study and infrastructural discussions with all related stakeholders and Aid Agencies. It is envisaged that this process will take some 12 months whereafter a production decision will be possible. The development of the mine would be contingent upon the viability having been confirmed and the necessary formal documentation having been completed. Metorex is delighted with this recent approval and look forward to its continuing good relationship with the Burkina Faso Government. Perkoa Zinc Project Metorex acquired the Perkoa Zinc Project in September 1999. This deposit is located in Burkina Faso, and with a grade of approximately 18% zinc makes it a quality orebody. 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. at Perkoa consists of a massive pyrite, sphalerite, pyrrhotite, baryte ore, with small amounts of lead and copper sulphides. Two parallel steeply dipping bodies have been delineated to depths of approximately 500 metres. Thicknesses of up to 12 metres are encountered.
Mineral resources Tonnes %Zn
Indicated 6,020,000 18.0
Inferred 880,000 14.8
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Total mineral resources 6,900,000 17.6
(Based on SAMREC code - June 30, 2000)
Corporate Overview Crew is a mid-tier diversified international mining company, based in Vancouver, Canada. The company controls five quality development projects and owns, through Metorex, eight producing mines. Crew is active in Norway, Canada, Greenland, the Philippines and Africa and has a demonstrated ability to discover new grassroots projects, advance projects to the development stage, and operate mines efficiently. The company is profitable and well positioned for further growth. The primary listing for Crew shares is the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (TSE) and since January 2000 it has been listed on the Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. (OSE). The company is also listed in Germany and in the US. John M. Darch, Chairman and C.E.O. This News Release was prepared by the Board of Directors on behalf of Crew Development Corp. which is solely responsible for its contents. |
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