Golden Queen increases proven and probable gold reserves to over 750,000 ounces.VANCOUVER, Bc--(BUSINESS WIRE)--Jan. 5, 1996--GOLDEN QUEEN MINING(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended : 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 ) Recent drilling at the Soledad Mountain Project near Mojave, California has increased minable reserves to approximately 750,000 ounces of gold equivalent. Proven and probable reserves now stand at 21 million tons graded at 0.028 ounces of gold per ton and 0.50 ounces of silver per ton at a waste to ore strip ratio of less than 2.8 to 1. Additional minable reserves are expected from the northwest ridge zone and deep Golden Queen vein following receipt of remaining drilling results. A deep drilling program is currently better defining the deep Golden Queen resource, which hosts an additional 500,000 ounces of gold equivalent in the possible reserve category. A preliminary feasibility study will be completed in March following final compilation of the ore reserves. A final (bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. ) feasibility study is planned for completion in July of this year. Each drilling campaign on this structurally-controlled deposit has successfully converted a substantial portion of the 1.5 million ounce geologic resources into proven and probable reserves. Minable reserves are now believed to be more than adequate to bring the project into production, and a production decision will be made at the completion of the pre-feasibility study. With an estimated permitting and construction schedule of 27 months, the project is expected to be in production the second quarter of 1998. Golden Queen Mining Co. Ltd. trades on the Vancouver and Toronto Stock Exchanges under the symbol GQM. -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). and the Toronto Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of this release. CONTACT: Golden Queen Mining Steve Banning, 509/535-4022 INDUSTRY KEYWORD: MINING REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-236-4266 or 80 |
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