Fischer-Watt Begins Metallurgical Test on Mercedes Ore.Business Editors COEUR D' ALENE, Idaho--(BUSINESS WIRE)--Nov. 24, 2003 Fischer-Watt Gold (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FWGO) has begun metallurgical testing on ore samples from the Mercedes gold/silver project located in the northern Mexican State of Sonora. The company has signed a letter of agreement with a subsidiary of Meridian Gold Company, Minera Meridian Minerales S.R.L. de C.V. regarding a portion of the concessions controlled by Minera Meridian. Fischer-Watt's interest is focused on the essentially vertical, Mercedes vein, which can be traced on the surface for approximately 2 kilometers (1.2 miles). During the late 1930's, Anaconda Copper Anaconda Copper Mining Company (until 1915 known as the Amalgamated Copper Mining Company), one of the largest trusts of the early 20th century which owned all the mines on Butte Hill, Montana, USA. Company spent two years conducting an underground exploration program in a short and shallow section of the Mercedes vein. Their work developed a reserve of 45,390 tons, at an average grade of 16.1g/t Au (0.52 oz.) & 133.7 g/t Ag. (4.30 oz.). All of the ore in this reserve was in the form of free gold and cerargyrite (horn silver (Min.) cerargyrite. (Min.) See Cerargyrite. See also: Horn Silver ). Horn silver is a silver chloride silver chloride, chemical compound, AgCl, a white cubic crystalline solid. It is nearly insoluble in water but is soluble in a water solution of ammonia, potassium cyanide, or sodium thiosulfate ("hypo"). mineral that is often found 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. sulfide silver deposits in arid regions such as the Mercedes location. Anaconda Anaconda, city, United States Anaconda (ănəkŏn`də), city (1990 pop. 10,278), seat of Deer Lodge co., SW Mont.; inc. 1887. considered the property agreement that they had made with the owner to be onerous and they returned the property to him. Shortly thereafter a mill was constructed and the Anaconda reserve was mined and processed. The mine workings are still accessible and the excavations are quite stable. However, the mill facilities have been removed. Fischer-Watt has obtained progress reports made by Anaconda personnel during their exploration period. These reports state that the ore reserves developed were on a split off of the main vein and they were based on excavation widths of 5.0 feet to 5.5 feet. However, scattered crosscuts driven across the main vein were 8.0 feet to 15.0 feet in width and they showed commercial 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. throughout that structure. Minera Meridian conducted rotary drilling programs on the Mercedes vein. This drilling encountered ore grade Ore grade is a measure that describes the concentration of a valuable natural material (such as metals or minerals) in its surrounding ore. Ore grade is used to assess the economic feasibility of a mining operation: the cost of extracting a natural material from its ore is directly mineralization for at least 800 meters (2,560 feet) directly south of the mined out section of the vein. This mineralization is lower in elevation than the ore previously mined and geologic mapping both on the surface and underground suggests that faulting has occurred and dropped this 800 meter section of the vein down dip. The work done to-date on the Mercedes vein indicates that in order to develop proven and probable reserves it will be necessary to go underground and drive exploration drifts along the strike of the vein. These excavations can be designed to facilitate future mine development work and it is possible that a portion of the gold/silver values contained in the exploration excavations can be recovered in a low capital cost gravity separation plant. Recovery of these values would defray de·fray tr.v. de·frayed, de·fray·ing, de·frays To undertake the payment of (costs or expenses); pay. [French défrayer, from Old French desfrayer : des-, a portion of the exploration cost. The purpose of the present metallurgical test, which should be completed within two months, is to determine the most efficient gravity plant design and percentage of precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. recovery. Fischer-Watt Gold Company Inc., located in Coeur d' Alene Idaho, is publicly traded. Its symbol is FWGO .BB. In addition to the Mercedes, the company is involved in developing an open pit copper property in the Mexican state of Michoacan. This property, the La Balsa, is in the advanced stage and will produce very pure, high quality copper cathodes. The La Balsa is located very close to the industrial city of Lazaro Cardenas that provides a superb infrastructure. For an up-to-date report on the company, please contact Rich Radez, Vice President Precious Metals, at David A. Noyes 1-800-285-1700 Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the 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 projected in the forward-looking statements. |
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