Medinah Update 4/14/14 NUOCO and LDM Chile Joint
Post# of 689
Posted On: 04/14/2014 7:21:05 PM
Medinah Update 4/14/14
NUOCO and LDM Chile Joint update to Medinah Minerals Inc.
April 14, 2014
Managements of NUOCO and LDM Chile Mining report;
The operations at the LDM/NUOCO projects have progressed in both the gold and copper zones. LDM mining crews have reached total depth as per their contract and have intersected the high grade zone target. The findings have confirmed the previous drill core intersections with highly mineralized and very fractured porphyritic/quartz material. Visible gold is observed and sampling has been completed. When assay results are received, we will commence shipping to the Enami refinery, the first test batches. Crews have cribbed off the mining areas to support the fractured rock. We have instructed our geologist to now follow this formation on surface to identify any potential outcroppings of this newly identified porphyritic host material. Due to the fractured nature of the material encountered at this gold zone we have now expended approximately $450,000 more than was anticipated.
At the copper discovery areas, NUOCO reports that the first mining faces have been examined and prepared for ore extraction. Air supply equipment, water pumps and drilling equipment have been situated and are being readied for production. The mining crews have now drilled and blasted out the first round of ore material and the penetration into the zone is confirming the continuity of the mineralization. All infrastructure is now in place to begin shipping copper ore to the mill. We have contracted a mining operations supervisor, a professional land man and necessary crew personnel in preparation for full production. We have also contracted a trucking company who will be running 20 tonne trucks to the mill. We have notified the mill to begin receiving ore shipments. Presently we have 350 tonnes of copper ore at the Til-Til mill, approximately 1500 tonnes stockpiled, and have begun extraction operations on the copper face.
Expenditures during the past 45 days and as agreed with Medinah Chile, companies have paid the $21,000 annual payment for the surface rights for this area which include the roads. Additionally, we have deposited $30,000 to retain contracts with our mining operations personnel in preparation for further production work and ore shipping. We have deposited $41,000 for mining personnel operational expenses. Additionally, we have paid an in excess of $120,000 for the mining crews, fuel company costs, heavy equipment maintenance, and required corporate operational expenses. The road had several difficult sections due to landslides which had to be cleared and improved with full road graveling at a cost of an additional $90,000. This work was completed last week and the road will now be able to handle the continuous 20 tonne truckloads of ore material. As per our agreement, with Medinah Mining Chile, we can report that there are no debts or encumbrances, and we will continue to operate on a cash call basis.
We have now reached a total investment in the LDM/NUOCO mining projects exceeding $2,500,000.00.
The discoveries made during these projects have now greatly enhanced the value of the Altos de Lipangue, LDM Chile and NUOCO groups of properties. It also appears we have discovered a new porphyry intrusive. However this will have to be confirmed by our geologist.
In the next update we expect to include mining activity, milling report(s), and the first revenues from production.
On behalf of NUOCO and LDM Chile Mining
NUOCO and LDM Chile Joint update to Medinah Minerals Inc.
April 14, 2014
Managements of NUOCO and LDM Chile Mining report;
The operations at the LDM/NUOCO projects have progressed in both the gold and copper zones. LDM mining crews have reached total depth as per their contract and have intersected the high grade zone target. The findings have confirmed the previous drill core intersections with highly mineralized and very fractured porphyritic/quartz material. Visible gold is observed and sampling has been completed. When assay results are received, we will commence shipping to the Enami refinery, the first test batches. Crews have cribbed off the mining areas to support the fractured rock. We have instructed our geologist to now follow this formation on surface to identify any potential outcroppings of this newly identified porphyritic host material. Due to the fractured nature of the material encountered at this gold zone we have now expended approximately $450,000 more than was anticipated.
At the copper discovery areas, NUOCO reports that the first mining faces have been examined and prepared for ore extraction. Air supply equipment, water pumps and drilling equipment have been situated and are being readied for production. The mining crews have now drilled and blasted out the first round of ore material and the penetration into the zone is confirming the continuity of the mineralization. All infrastructure is now in place to begin shipping copper ore to the mill. We have contracted a mining operations supervisor, a professional land man and necessary crew personnel in preparation for full production. We have also contracted a trucking company who will be running 20 tonne trucks to the mill. We have notified the mill to begin receiving ore shipments. Presently we have 350 tonnes of copper ore at the Til-Til mill, approximately 1500 tonnes stockpiled, and have begun extraction operations on the copper face.
Expenditures during the past 45 days and as agreed with Medinah Chile, companies have paid the $21,000 annual payment for the surface rights for this area which include the roads. Additionally, we have deposited $30,000 to retain contracts with our mining operations personnel in preparation for further production work and ore shipping. We have deposited $41,000 for mining personnel operational expenses. Additionally, we have paid an in excess of $120,000 for the mining crews, fuel company costs, heavy equipment maintenance, and required corporate operational expenses. The road had several difficult sections due to landslides which had to be cleared and improved with full road graveling at a cost of an additional $90,000. This work was completed last week and the road will now be able to handle the continuous 20 tonne truckloads of ore material. As per our agreement, with Medinah Mining Chile, we can report that there are no debts or encumbrances, and we will continue to operate on a cash call basis.
We have now reached a total investment in the LDM/NUOCO mining projects exceeding $2,500,000.00.
The discoveries made during these projects have now greatly enhanced the value of the Altos de Lipangue, LDM Chile and NUOCO groups of properties. It also appears we have discovered a new porphyry intrusive. However this will have to be confirmed by our geologist.
In the next update we expect to include mining activity, milling report(s), and the first revenues from production.
On behalf of NUOCO and LDM Chile Mining
(0)
(0)