Desert Sun Reports Significant Increase in Measured and Indicated Resources at Jacobina.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- DESERT SUN MINING CORP. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DSM 1. DSM - Data Structure Manager. An object-oriented language by J.E. Rumbaugh and M.E. Loomis of GE, similar to C++. It is used in implementation of CAD/CAE software. DSM is written in DSM and C and produces C as output. )(AMEX AMEX See: American Stock Exchange :DEZ DEZ Dezember (German: December) DEZ Disease Eradication Zone DEZ Death Egg Zone (Sonic 2/3 & Knuckes level) DEZ Di-Ethylzinc ) has received all results from surface diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral at the Jacobina Mine (Joao Belo Be·lo , Carlos Felipe Ximenes Born 1948. East Timorese Roman Catholic bishop. An outspoken critic of Indonesia's invasion and colonization of East Timor, he shared the 1996 Nobel Peace Prize with José Ramos-Horta. zone) and has updated the mineral resource estimate for this zone based on this data in combination with historical drill results. Updated mineral resource estimates incorporating new drilling data previously released are also being completed for the Canavieiras and Morro do Vento target areas and these will be reported separately. This press release provides an interim statement of updated mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature at Jacobina shown in Table 1 below. A final statement of updated mineral reserves and mineral resources for Jacobina will be reported by year end. Measured and indicated mineral resources on the Jacobina properties now total 18,280,000 tonnes grading 2.79 grams gold per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. (g Au/t) containing 1.65 million ounces of gold. Inferred mineral resources total 18,280,000 tonnes grading 2.51 g Au/t containing 2.1 million ounces. At the Jacobina Mine (Joao Belo Zone) Desert Sun completed 11 drill holes including wedges totaling 6,630m that were focused on upgrading previously defined inferred mineral resources to the indicated category. Significant assay results from this drilling are given in Table 2 below and the locations of the drill hole pierce Pierce may refer to: Places
adj. Running in the direction of the long axis of the body or any of its parts. section. Measured and Indicated Mineral Resources at the Jacobina Mine now total 12,600,000 tonnes at 2.38 g Au/t containing 970,000 ounces of gold. This is an addition of 3,500,000 tonnes grading 2.48 g Au/t containing 280,000 ounces of gold, an increase of 40%, from the August 2003 estimate. Inferred mineral resources are now 5,300,000 tonnes grading 2.33 g Au/t containing 390,000 ounces of gold. This is a reduction from the August 2003 inferred mineral resource of 8,600,000 at 2.77 g Au/t containing 760,000 ounces of gold reflecting the successful upgrading of a significant portion of this inferred resource to the indicated category. The mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone is open along strike and at depth hence it is very likely that significant additional resources will be outlined by further drilling. Peter Tagliamonte, P.Eng., Vice President Operations and COO (Cell Of Origin) See mobile positioning. said: "The Desert Sun mine staff is currently completing a mine plan and mineral reserve estimate for the new indicated mineral resource. We are very encouraged by the results from the 2004 drilling program as it demonstrates that the Jacobina Mine is developing into a long term mining asset. Underground diamond drill platforms are being developed. Therefore, drilling in 2005 will be faster and significantly more cost effective, and will allow for additional expansion and conversion of the inferred resources." Dr. Bill Pearson, P.Geo., Vice President, Exploration commented: "The 2004 drilling program at the Joao Belo Zone was very successful in achieving its objectives of upgrading previously outlined inferred mineral resources to the indicated category. The cost of upgrading an inferred ounce ounce, in zoology ounce, in zoology: see leopard. ounce, unit of measurement ounce: see English units of measurement. to the indicated category was extremely efficient at approximately US$2.40 per ounce. We believe that the Joao Belo zone is a major centre for hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. 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. in the belt. As we complete further drilling and continue to better understand the system, I believe that the gold mineralization will be found to be far more extensive than previously thought." The updated resource estimate for the Joao Belo Zone has been reviewed and confirmed by Terry Hennessey William Terrence Hennessey (born September 1, 1942 in Llay, Wales) was a Welsh international football player. He attained 39 caps for Wales and played his club football for Derby County. , P.Geo. of Micon International. Mr. Hennessey is an independent qualified person as defined under National Instrument 43-101. The resource estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. methodology and classification used is the same as outlined in the August 2003 report by Mr. Hennessey filed on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review . Desert Sun owns 100% of the Jacobina Mine and the 155 km long Bahia Gold Belt in the state of Bahia, in northeastern Brazil. The mine will re-start operations in the first quarter of 2005. Based on the SNC SNC St Norbert College (De Pere, Wisconsin) SNC Sistema Nervioso Central SNC Société en Nom Collectif (French: Partnership) SNC Système Nerveux Central (French: central nervous system) Lavalin Feasibility Study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. which used a gold price of US $350 per ounce and a Real (Brazilian currency) to $ US exchange rate of 3:1, the mine can produce at a rate of 102,000 ounces of gold per year at an average cash cost of US $189 per ounce. Assaying for the program was carried out by Lakefield Geosol, an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001, 2000 laboratory based in Brazil, using fire assay on 50 gram pulps. Check assaying is routinely carried out, by ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex in Vancouver, on 10% of sample pulps and 5% of sample rejects. Independent standard reference samples are also inserted at regular intervals into each batch of analyses. Security is maintained at the core logging and sampling facility. Dr. Bill Pearson, P.Geo. is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the program. Statements in this release that are not historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". Desert Sun Mining is a Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. gold exploration and development company listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . (www.desertsunmining.com).
Table 1
Interim Mineral Resources Statement, Jacobina
Updated as of November 16, 2004
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As of November 2004(b) Status
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Category Area Tonnes Grade Contained Change from
Gold August 2003
(g/t Au) (ounces)
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Measured Joao Belo 2,300,000 2.41 180,000 unchanged
Itapicuru 250,000 5.70 45,000 unchanged
Serra do
Corrego 10,000 7.50 3,000 unchanged
Canavieiras 56,000 6.73 12,000 unchanged
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Subtotal 2,620,000 0.00 240,000 unchanged
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Indicated Joao Belo 10,300,000 2.37 790,000 increased
Itapicuru 3,860,000 3.51 440,000 re-estimating
Serra do
Corrego 910,000 2.39 70,000 unchanged
Canavieiras 600,000 5.80 110,000 re-estimating
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Subtotal 15,670,000 2.78 1,410,000 increased
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Total Joao Belo 12,600,000 2.38 970,000 increased
Measured
and Itapicuru(a) 4,110,000 3.64 480,000 re-estimating
Indicated
Serra do
Corrego 920,000 2.44 72,000 unchanged
Canavieiras 660,000 5.88 125,000 re-estimating
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Total 18,290,000 2.79 1,650,000 increased
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Inferred Joao Belo 5,300,000 2.33 390,000 decreased
Itapicuru(a) 12,200,000 2.00 780,000 re-estimating
Serra do
Corrego 1,800,000 2.95 170,000 unchanged
Canavieiras 4,000,000 3.55 460,000 re-estimating
Other Areas 2,900,000 3.26 300,000 unchanged
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Total 26,200,000 2.51 2,100,000 re-estimating
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(a) Includes Morro do Vento target area
(b) Totals have been rounded
Table 2: Significant Drilling Results, Jacobina Mine (Joao Belo Zone)
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Hole No.(a) From To Gold Inter- True Depth Below
(m) (m) (g/t) val Width 670 Adit
(m) (m) Level(b)(m)
above below
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JBA-295 N 8751220 E 34445 El 786
dip - 73 degrees 276.62 278.40 1.29 1.78 1.4 150
376.96 380.27 1.09 3.31 2.6 245
426.15 426.81 4.42 0.66 0.5 290
486.87 488.31 2.20 1.44 1.1 340
NOTE: Hole caved before LMPC target reef
intersected wedged as JBA-295D
JBA-295D N 8751220 E 34445 El 786
dip - 73 degrees 485.52 487.82 2.01 2.30 1.8 350
501.06 503.12 2.39 2.06 1.6 365
541.88 544.34 1.76 2.46 1.9 405
729.03 731.58 3.12 2.55 2.0 580
755.83 768.32 1.23 12.49 9.6 605
JBA-298 N 8750874 E334406 El 803
dip - 69 degrees 386.87 389.91 1.38 3.04 2.6 235
incl 527.37 550.25 2.12 22.88 19.9 385
incl 527.37 540.86 2.70 13.49 11.7 370
JBA-305 N8750944 E334413 El 784
dip - 61 degrees 477.33 479.35 5.40 2.02 1.7 310
498.23 522.36 2.30 24.13 20.8 350
incl 498.23 511.81 2.83 13.58 11.7 345
incl 518.87 522.36 3.86 3.49 3.0 355
712.52 717.9 1.13 5.38 4.6 535
JBA-307 N 8750875 E334095 El 1032
dip - 77 degrees 349.70 361.41 2.54 11.71 8.0 2
incl 349.70 354.90 5.00 5.20 3.5 5
407.68 416.40 2.14 8.72 5.9 45
441.38 445.90 2.49 4.52 3.1 73
509.02 510.39 6.16 1.37 0.9 135
JBA-308 N8750674 E334427 El 841
dip - 58 degrees 542.24 557.00 1.82 14.76 13.3 310
542.24 551.91 2.12 9.67 8.7 305
571.42 575.89 1.53 4.47 4.0 328
JBA-309 N 8750772 E334415 El 834
dip - 69 degrees 571.51 584.47 1.76 12.96 10.1 383
incl 578.35 584.47 3.28 6.12 4.8 385
JBA-310 N 8750823 E334096 El 1028
dip - 47 degrees 351.47 355.36 4.77 3.89 3.7 115
JBA-311 N 8751158 E334426 El 799
dip - 70 degrees 482.00 483.47 7.29 1.47 1.1 330
496.31 505.13 1.71 8.82 6.9 344
incl 501.45 505.13 2.12 3.68 2.9 350
546.86 550.43 3.17 3.57 2.8 390
JBA-312 N 851075 E334095 El 1032
dip - 87 degrees 509.6 520.97 4.34 11.37 6.1 180
highs cut to 30g/t 3.61
incl 516.1 520.97 9.48 4.87 2.6 180
highs cut to 30g/t 7.78
568.33 594.71 2.77 26.38 14.2 245
JBA-313 N 8751370 E334427 El 741
dip - 69 degrees 415.60 420.36 1.33 4.76 3.7 325
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(a) all holes are NQ diamond drill core size
(b) depth calculated based on midpoint of intersection; 670m level is
the main haulageway at Jacobina Mine
NOTE: A map is available on CCNMatthews' website at: http://www2.cdn-news.com/database/fax/2000/dsm1117.doc Desert Sun Mining Corp. (TSX:DSM) (AMEX:DEZ) |
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