Colorado Goldfields Inc. (fka CGFI)

[M_T_Pockets]

RKY, Here is what was said in the PR from May.

>>>>"A thorough study of geological structures, past production, core drilling and extensive underground sampling records indicates that the total resource of the Silver Wing Mine could exceed $200 million with approximately 80% of the resource value composed of silver and copper minerals," stated Lee Rice, President & CEO for Colorado Goldfields.The mine's poly-metallic ore contains recoverable metal values in gold, silver, lead, copper and zinc. Colorado Goldfields will develop a mining and milling operation and produce approximately 14,500 tons annually of gold, silver, copper, lead and zinc concentrates. After 1-year of ramp up work, production could reach 180 tons per day with full production of 360 tons per day achieved after two years.The initial ore discovery and location for the first Silver Wing Mine was made in 1874 on the Silver Wing claim itself. All ore production from early operations (1874 through 1909) was based on silver values. The early ore was so rich that it was direct-shipped to smelters on pack mules over mountain passes in excess of 12,500 ft. high.In 1904 a railroad siding was built to the mine and lower grade ore was direct shipped to a smelter in Silverton. The mine was shut down in 1909 due to litigation. The last production from the Silver Wing Mine was between 1962 and 1965 when the ore was milled at the Pride of the West mill. Production ceased due to a prolonged smelter strike in 1965". <<<

If you look at what Rice said, the estimates are based on both historical info from as recent as 1965, and more recent core samples and rock samples taken from underground access in the past.
Fearn was the operations manager when the mine was in operation.

Seems pretty solid information sources for the silver estimates.

Here is another source for the PR and info.
http://stockreads.com/Stock-Newsletter.aspx?id=45820