Wednesday, August 02, 2006 2:26:16 PM
CARACAS, VENEZUELA, Aug 02, 2006 (MARKET WIRE via COMTEX) -- Metallurgica de Mineras S.A. has completed the core assay project as contracted by Grand Pacaraima Gold Corp. (PINKSHEETS: GPGD). According to the assay report, there are recoverable gold reserves of 3.6 million ounces and indicated gold reserves of 5 million ounces.
Guidelines specified under the agreement were for spacing requirements of 25 meters at a specified depth of 5 meters or less. Four quadrants each: NE, NW, SE, SW were sampled for the Cerro Trompa, San Miguel, Zapata and Mosquito Mines located in the region 8-12 kilometers northeast of Icabaru, Venezuela.
In comparison to previous sampling of these four mines, the northeast quadrant of Cerro Trompa at 87.53 grams per ton or 2.81 ounces per ton greatly exceeded our expectations.
It is the recommendation of Metallurgica de Mineras S.A. as well as Grand Pacaraima Gold Corp. that the company execute a major development venture on the concession with the Semana del Sur district.
----------
3.6 million ounce reserve and 2.8 ounces per ton is very impressive! This company might really have something here!
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM
VPR Brands (VPRB) Reports First Quarter 2024 Financial Results • VPRB • May 17, 2024 8:04 AM
ILUS Provides a First Quarter Filing Update • ILUS • May 16, 2024 11:26 AM