FAIRBANKS, AK and VANCOUVER, Oct. 4 /PRNewswire-FirstCall/ - The 94.03 kilograms of fine concentrates recovered from our processing of over 18,000 yards of frozen gold bearing gravels, mined underground during the winter of 2006-2007 have yielded 915.06 troy ounces of gold. The fine concentrate therefore contained 30% gold, which when combined with the 2811.74 troy ounces of nugget gold recovered this year totals 3726.80 troy ounces. Also, the fine concentrates yielded 65.10 troy ounces of silver or 2.15% silver. The value received for the fine gold and silver, sold on 10/1/2007 was $668,386.79 (after smelting costs).
Total gold sales, which will include our 2811 ounces of nugget gold, will be reported in our financial statements.
This 3726.80 ounces of placer gold has yielded a great deal of additional information about the lode source of these nuggets. The gold is approximately four times the amount recovered in the prior year.
This press release was prepared by Dr. Karsten Eden, Certified Professional Geologist, who is a qualified person as defined under the standards of Canadian National Instrument policy 43-101.
Lightning cracks the blackened sky,
Hear the thunder chariot ride
All brave men with hearts of war
Ride the path of mighty Thor
