Treminco Resources: Due Diligence Reveals Strong Evidence for Higher Gold Grade at Elkhorn Project.VANCOUVER--(BUSINESS WIRE)--July 7, 1998--Treminco Res.(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :TMO TMO T-Mobile TMO The Mac Observer (website) TMO Timeout (Hekimian) TMO Tenant Management Organisation (UK) TMO Toprak Mahsulleri Ofisi .) Treminco Resources Ltd. (TSE:TMO) is pleased to report that due diligence underway on the Elkhorn Project, under option from Hospah/Santa Fe Pacific Gold Company, subsidiaries of Newmont Gold Company (NYSE NYSE See: New York Stock Exchange :NGC NGC New General Catalogue (of Nebulae and Star Clusters; astronomy) NGC National Geographic Channel (TV) NGC National Guideline Clearinghouse ), indicates strong evidence to support a higher gold grade at the Project. The due diligence investigation suggests that many of the geostatistical parameters applied in the 1995 H.A. Simons Pre-Feasibility Study of Underground Mining, particularly drill hole composite methodology and cut grade strategy, may have been overly conservative resulting in an understating of reserve gold grades. If the case for higher grade, (current reserve gold grade is 0.240 opt Au at the Sourdough and East Butte Deposits) is supported by a revised, independent Pre- Feasibility Study, the result could significantly lower operating costs from current estimates of US$200-US$230 per ounce. In 1996, following the 1995 H.A. SimonsPre-Feasibility Study of Underground Mining, Santa Fe Pacific Gold commissioned Pincock Allen & Holt (PAH) to complete a reserve audit of the Elkhorn Deposits. The PAH study led Santa Fe Pacific Gold to recalculate re·cal·cu·late tr.v. re·cal·cu·lat·ed, re·cal·cu·lat·ing, re·cal·cu·lates To calculate again, especially in order to eliminate errors or to incorporate additional factors or data. the Elkhorn gold resource utilizing a different composite methodology specifically, 5' assay interval method versus previously applied 10'-20' bench composite method. The new resource calculation showed a plus 20 percent increase in gold grade for the Sourdough and East Butte Deposits. -0-
1996 Santa Fe Pacific Gold Corporation Resource Calculation
(0.10 opt Au cut-off)
Grade Contained
Deposit Tons (opt Au) (Ounces Au)
Sourdough 1,328,196 0.301 399,787
East Butte 963,102 0.353 339,975
Total 2,291,298 0.323 739,762
Elkhorn is an advanced stage gold project located on the southern end of the Elkhorn Mountains in Jefferson County, Montana Jefferson County is a county located in the U.S. state of Montana. As of 2000, the population is 10,049. Its county seat is BoulderGR6. Geography According to the U.S. Census Bureau, the county has a total area of 4,296 km² (1,659 mi²). . To date, over US$17 million has been spent on the exploration and development of the property. Treminco plans to develop the Elkhorn Project as a near-surface, high grade, underground mine similar to Pegasus Gold's nearby profitable Diamond Hill Mine. ON BEHALF OF TREMINCO RESOURCES LTD. David Hottman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Treminco Resources Ltd.'s 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. . The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
CONTACT: Treminco Resources Ltd.
Reg Advocaat, 604/687-4450
604/687-5100 (FAX)
or
Treminco Resources Ltd.
Geoff Chater, 604/687-4450
604/687-5100 (FAX)
http://www.treminco.com
e-mail: tmo@treminco.com
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