GGC.V
Company president Gregory K. Liller states: "I am extremely pleased with the results of the reserve and resource estimates. In four months of effective drill time our reserve base increased 57 per cent, to 6.5 million eAg ounces, measured and indicated ounces grew from nothing to 4.2 million ounces and the inferred resource increased 2.8 times to 143 million ounces.
"Drilling has continued since the beginning of the year and we currently have eight drills on the project. Metallurgical and engineering studies are being carried out by Kappes, Cassiday and Associates which will provide data for mine and plant designs for future production expansion.
"Most importantly, last year's drilling tested less than 5 per cent of the known mineralized structures in the Temascaltepec district. During 2007 we plan on testing the Magdalena Sayas, Purisma, Las Animas and Nazareno areas as well as continuing district-scale exploration activities to define new areas of mineralization."
We seek Safe Harbor.