Favorable Drilling Results Continue for Golden Queen.SPOKANE, Wash.--(BUSINESS WIRE)--March 4, 1997--GOLDEN QUEEN MIN Min (mĭn). 1 Chief river of Fujian prov., SE China, c.350 mi (560 km) long, rising in Wuyi shan and flowing SE to the South China Sea near Fuzhou; it receives several tributaries near Nanping. .(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GQM GQM Goal, Question, Metric (Software Metrics, A Rigorous Approach By Fenton, Norman E., Chapman Hall, London, 1994) GQM Great Quest Metals GQM Groundwater Quality Monitoring .) The Company announced that the initial results from underground 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 confirm the continuation of ore- grade 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 lower Golden Queen structure for at least 200 meters below the current reserve. Ore-grade mineralization over the 1.5 kilometers of structural trend encompassing the Starlite, Soledad Extension and Golden Queen veins varies from 20 meters to more than 60 meters in true thickness. Significant intersections from recent diamond drilling include 34 meters at a grade of 0.93 grams of gold equivalent per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. in hole number DDH-17, 16 meters at a grade of 1.9 grams per tonne in hole number DDH-18 and 23 meters at a grade of 1.3 grams per tonne in hole number DDH-19. Nearer surface drilling on this structure returned an intersection of 44 meters at a grade of 1.2 grams per tonne. Previously announced results include 37 meters at a grade of 4.2 grams of gold equivalent per tonne and 60 meters at a grade of one gram per tonne. These particular structures are home to approximately one million ounces of gold equivalent resource that is in the process of being upgraded to a proven and probable level of confidence with the current drilling program. Surface drilling continues to expand the stockwork zone of mineralization, which is located above the lower Golden Queen structure and will be mined as a result of mining that structure. Hole number GQ-528 intersected 29 meters at a grade of 1.0 grams of gold equivalent per tonne. In addition, several narrower but higher grade intersections were encountered. Previously announced results include 41 meters at a grade of 1.4 grams of gold equivalent per tonne. Ore development in this zone will reduce the waste-to-ore strip ratio associated with mining the lower Golden Queen structure. Another surface drill has been focused on extending ore reserves along the strike of several of the other 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. structures. The Silver Queen structure has been intersected in four consecutive holes, adding more than 200 meters of strike length in the southeast direction at a true thickness of approximately 30 meters. Most significant are hole number GQ-542 which intersected 34 meters at a grade of 1.06 grams of gold equivalent per tonne and hole number GQ-543 which intersected 44 meters at a grade of 1.30 grams of gold equivalent per tonne. Several of the other structural trends are expected to be expanded to the south with this drilling program. Overall, the planned drilling program consists of 17,000 meters of reverse circulation drilling from surface and 8,000 meters of diamond drilling from underground. The objective of the program is to upgrade the majority of the 2.4 million ounce resource to a proven and probable level of confidence. An updated ore reserve is expected in June of this year and will be the basis for upgrading the existing 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. to a targeted production level of 150,000 ounces of gold equivalent per year. Project construction is planned to begin as soon as permits are in hand, which is anticipated to occur late this summer, and operations start-up remains scheduled for the second quarter of 1998. The Company's common shares trade on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol GQM. CONTACT: Golden Queen Mining Co. Ltd. Steven W. Banning, 509/535-4022 |
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