El Limon reserves increase three-fold.COEUR D'ALENE Coeur d'Alene, city, United States Coeur d'Alene (kûrdəlān`), city (1990 pop. 24,563), seat of Kootenai co., N Idaho, near the Wash. line; inc. 1907. , Idaho--(BUSINESS WIRE)--March 10, 1997-- Fischer-Watt Gold Company Inc. has significantly increased proven and probable mineable reserves at its Oronorte operations in Colombia, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . This increase is within the El Limon Mine where equipment and mining methods have enabled development drifting on the 5th level of the El Limon vein to advance ahead of stoping operations. This has allowed resources to be upgraded to mineable reserves. As at December 1996, proven and probable reserves were increased to 99,414 tonnes at a diluted grade of 16 grams of gold per tonne, containing a total of 51,107 ounces of gold. This compares with the previous estimate as at March 1996 of 34,094 tonnes at a diluted grade of 15 grams containing 16,486 ounces. -0-
Proven and Probable El Limon Reserves
El Limon Tonnes Grams Au Oz Au
31 December 1996 99,414 16 51,107
31 March 1996 34,094 15 16,484
The El Limon vein continues to remain strong and is expected to yield similar reserves on the 6th level. It is anticipated that the ramp being driven at the Aurora property will intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. the vein in April 1997. The ramp at the Juan Vara property has encountered poor ground conditions and work there has been temporarily suspended in order to reassess reassess Verb to reconsider the value or importance of reassessment n Verb 1. reassess - revise or renew one's assessment reevaluate the project requirements. Limited development tonnage from non-mechanized work in the upper level of the Aurora is being shipped to the El Limon mill for processing. Both the Juan Vara and Aurora veins are similar in width and grade to the El Limon vein. At El Carmen There are many toponyms called Carmen or El Carmen. See also Carmen (disambiguation).
The recently acquired El Veinte property, fourteen kilometers south of El Limon, is indicating that a stockwork system similar to the El Carmen exists. This property is the next target in Fischer-Watt's Colombian regional exploration program which is searching for near-surface bulk mineable low grade gold deposits. Fischer-Watt Gold Company Inc. is an Idaho-based mining and exploration company with an operating mine and additional properties under development in Colombia, South America. It also holds key land positions in Nevada, one of the world's principal gold producing districts, as well as exploration interests in Mexico. The company's shares trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Bulletin Board (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :FWGO). For further information, contact George Beattie, chief executive officer and chairman, 208/664-6757 or Diane Bryan, investor relations Investor relations The process by which the corporation communicates with its investors. , 702/689-7450. CONTACT: Fischer-Watt Gold Company Inc. George Beattie, 208/664-6757 or Diane Bryan, 702/689-7450 |
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