Tuesday, October 25, 2011 7:30:45 PM
Mr. Peterson also stated, "Cross representative samples have been crushed and shipped to the Penoles smelter outside of Durango, Mexico for additional testing and evaluation for the best possible recovery. From all indications, we have tapped into a substantial deposit. Our smelter results should be available within 30 to 45 days.
Until the engineering reports are produced by the smelter, I am taking a cautious view of our recovery capability."
Whole text:
August 24, 2011 - Las Vegas, Nevada - Marketwire -- CROWNE VENTURES, INC (Stock Symbol: CRWV) is pleased to announce the appointment of
Mr. Dane Peterson as President and CEO of the Company effective immediately.
"Securing the Gallo de Oro Property and its 9.5 million tons of recoverable ore coupled with my experience with this property makes this a perfect fit for both parties," said Mr. Peterson.
Mr. Peterson's first act as President was the execution of a 5-year mining lease between Crowne Ventures and World Investment of Mexico (WIM) for the
Gallo de Oro Property located in the Tecuala Mining District, in the State of Nayarit, Mexico.
Crowne Ventures management is also pleased to announce positive results in their continued surface sampling and initial trench testing of the Gallo de Oro claim.
Independent U.S. laboratory test results of grab samples taken from the ore that was trenched and put in a stockpile, resulted in values up to 8.3 oz. of gold/ton.
New CEO of Crowne Ventures, Dane Peterson, said,
"These results are very exciting, given the fact that we produced this tonnage in an open pit configuration with massive excavation equipment."
To further explore these values, 100 tons of ore from the Gallo de Oro Property in the Tecuala Mining District has been excavated and stockpiled for further testing.
This stockpiled ore will be shipped to a smelter facility, which is located close to Durango, Mexico.
Mr. Peterson also stated, "Cross representative samples have been crushed and shipped to the Penoles smelter outside of Durango, Mexico for additional testing and evaluation for the best possible recovery. From all indications, we have tapped into a substantial deposit. Our smelter results should be available within 30 to 45 days.
Until the engineering reports are produced by the smelter, I am taking a cautious view of our recovery capability."
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