Cusac to Drill Mine Property.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 28, 2002 Guilford H. Brett, Director, President & 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. , Cusac Gold Mines Ltd., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CUSIF)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : CQC CQC China Quality Certification Center CQC Caiga Quien Caiga (Argentinean TV show) CQC Close Quarters Combat (gaming league) CQC Close Quarters Combat (hand to hand) ) - reports that the increase in the price of gold recently has prompted the Company to undertake a new drill program at Table Mountain in 2002. The proposed drill program will be directed towards exploration for new high-grade veins, existing gold structures, and possible large-scale replacement style gold 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. . The 100% Cusac owned and fully permitted Table Mountain Mine, under care and maintenance since 1999, has produced over 400,000 oz of gold to date. The average grade of ore produced over the life of the mine was approximately .45/oz of Au per ton. However, the mine is capable of producing "Bonanza" type ore. An example of this would be Cusac's 1996 production, which averaged .86/oz of Au per ton, which resulted in a $0.19 per share earnings. Management, along with its geologic consultants, believe that significant potential exists for a deep-seated gold deposit under Table Mountain. Proponents of the deep-seated intrusive model of gold deposition in the Cusac Gold Camp include Dr. Mat Ball, whose Queens University doctoral thesis defends the model, Dr. Joanne Nelson of the BC Ministry of Energy and Mines, and Dale Sketchley, MSC (1) (MSC.Software Corporation, Santa Ana, CA, www.mscsoftware.com) Founded in 1963 by Richard H. MacNeal and Robert G. Schwendler, MSC is the world's largest provider of mechanical computer aided engineering (MCAE) strategies, simulation software and services. . P.Geo., who also completed post graduate research on the Table Mountain Property. A 4,000 to 5,000 foot drill hole is required to test the theory, and joint venture participation is being sought to fund this part of the program. Tulameen Joint Venture, Bright Star Ventures Ltd. 50%/Cusac 50% The Tulameen Ultramafic Complex and overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. Nicola Group volcanic rocks are considered to be potential hosts to gold, platinum, copper, nickel, chromium, iron and diamond deposits. Historically, streams draining the Tulameen Ultramafic complex and surrounding rocks have produced over 20,000 ounces of placer platinum nuggets as by-products of placer gold and platinum mining from this area. Bright Star Ventures Ltd. has completed the first phase of work on the property, with positive results. Bright Star plans an extensive program in the area to commence in late May, 2002. The Joint Venture property will be the first target area in the camp this season. A systematic channel sampling program of known occurrences of copper-nickel platinum is planned. A number of strong geochemical platinum-gold anomalies have also been identified from last years work. These areas will be trenched or diamond drilled this season. Bright Star is well funded to carry out the planned program. Cusac Gold Mines Ltd. Guilford H. Brett Director, President & CEO The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion