Pele Mountain Resources Inc|
PHONE CONTACT - AL SHEFSKY - 416.368.7224
shares issued 15,486,738
2000-01-31 close $0.27
Bulk sample report from Markes Zone
Tuesday Feb 1 2000
Mr. Al Shefsky reports
Pele Mountain Resources has received the final milling results for the bulk sample
mined from the Markes zone at Pele's 100-per-cent-owned Wawa project. The
bulk sample consisted of 10,406 tonnes of gold ore that was mined by Pele during
October and November of 1999. The ore was processed by Battle Mountain
Canada Ltd. at the Golden Giant Mill at Hemlo, and milling was completed during
December, 1999. The bulk sample was mined from the surface to a maximum
depth of 12 metres, with a true width of over 10 metres for most of the
approximately 50-metre strike length tested. The overall grade reported was 5.1
grams per tonne gold for the 10,406 tonnes.
Pele is very encouraged by the fact that the grade and recovery of gold increased
with depth. The final 1,146 tonnes, mined from the deepest part of the pit, ran
6.42 grams per tonne gold. Recovery of gold also appears to increase with depth
and reached 95.8 per cent for the final 1,146 tonnes of ore milled. This bulk
sample demonstrated that the Markes zone has the potential for economic grades
over minable widths. The mining characteristics of the ore were excellent and
processing was amenable to standard milling techniques. The bulk sample
generated a total gross revenue of $685,558.79.
Drilling at the Markes zone below the pit shows a continuation of the Markes zone
in two ore shoots. A shallow easterly plunging ore shoot is displaced by a fault
approximately 50 metres east of the pit. The main ore shoot is steeply plunging to
the west and continues to a depth of at least 50 metres. Further drilling is being
considered to test the continuity of the main ore shoot at greater depth.
The Markes zone is within the same deformation zone as several previously
producing gold mines and the currently producing, high grade, Edwards gold mine.
The deformation zone, which hosts the Edwards gold mine and the Markes zone,
has been traced using geochemistry, geophysics and drilling for more than 3.5
kilometres across Pele's property and remains open to the east.
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