Wednesday, March 21, 2012 6:58:10 PM
"There are currently multiple and conflicting standards worldwide for the reporting of mineral reserves. Following a major stock fraud, Canada enacted a very restrictive law entitled NI 43-101 that essentially dismisses testing data older than 2 years. Under this standard, the Gold Star Ore Reserves would be characterized as estimated or historical reserves.
Despite intensive lobbying by Canada, the US government has not adopted 43-101 standards. Under existing US law, embodied in SEC Industry Guide 7, and based on the reporting standards set forth by the US Society of Mining Engineers, the Gold Star Ore Reserves would be characterized as Proven and Probable Reserves."
http://goldtechmines.com/gold%20star%20main.html
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Phase II- in Phase 2, a second and more complete sampling program will be implemented as well as recommendations with respect to mining the ore body.
An NI 43-101 report commissioned. A small scale trommel will be used in the testing process to determine later production and Au extraction requirements. The Phase II extraction system will resemble as close a possible a small scale production facility.
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