Shareholder Update NUOCO/LDM Chile to Medinah Min
Post# of 689
Posted On: 05/31/2014 12:15:16 PM
Shareholder Update
NUOCO/LDM Chile to Medinah Minerals, Inc.
Progress Update on Gold Shaft
May 29, 2014
In follow up to the LDM Chile Progress Report to Medinah Minerals, Inc. Shareholder Update of April 8, 2014, and under the excellent supervision of Mr. Juan Jose Quijano Fernandez, we are pleased to report that from the 70 meter depth, a 15 meter long tunnel has been constructed exploring the vein and breccia from the shaft in a north-easterly direction with the following results as measured approximately every 2 meters: 16.8 grams/tonne, 21.5 grams/tonne, 24.5 grams/tonne, 10.4 grams/tonne and 33.4 grams/tonne. The DDH2 intersection appeared inside of the brecciated fault zone at the 68-70 meter point. Assay samples taken from just above this zone have averaged in the 10 grams of gold per tonne range.
The mineralization is increasing in the fault vein to gold in quartz and massive arsenopyrite. This fractured fault vein averages 1.3 meters wide and is progressing from breccia to fractured quartz in nature. As mentioned, the vein/porphyritic material was sampled by the geologist approximately every 2 meters. Sampling has been professionally done in accordance with standard practices and are representative of the average ore grade across each area sampled.
A detailed program has now been undertaken to create a comprehensive mining plan for the gold project and the copper project. Due to the consistent findings of increasing mineralization in both the separate gold and copper zones, a decision has been made to now implement a full mining operation. As a result, a consulting Mining Engineer was recommended by Enami to work with us on this project. Enami is the Chilean National Mining Corporation – Empresa Nacional de Mineria – established to promote small and medium size private sector mining in Chile by providing incentives and supplying technical, financial, metallurgical production services in order to help them be competitive. This consulting engineer has been hired to work with our on-site manager to ensure proper details and documentation of the permit applications. In addition, he will also assist in establishing the best extraction methods and ore targets for this particular operation and mineral structure.
While the above mentioned work is in progress, we are continuing to operate under the current permits. Trucks are hauling copper ore daily to the mill as a result of the mining crew extraction of the high grade copper ore. Production at the gold zone will begin when we have more accurately defined the target with our geologist and Engineer. Thus, we expect to add a second crew very soon to bring the gold ore deposits into production. We will continue to provide updates and reports in the future as soon as we have substantive information to share.
On behalf of the Board of Directors
NUOCO/LDM
Cautionary Statement – Forward-Looking Information
This news release may contain certain “forward-looking statements” within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
** Medinah Minerals, Inc. wishes to advise that this is our official Web Site. Medinah Minerals is not responsible for the presentation of any Company information made available on any other site.
NUOCO/LDM Chile to Medinah Minerals, Inc.
Progress Update on Gold Shaft
May 29, 2014
In follow up to the LDM Chile Progress Report to Medinah Minerals, Inc. Shareholder Update of April 8, 2014, and under the excellent supervision of Mr. Juan Jose Quijano Fernandez, we are pleased to report that from the 70 meter depth, a 15 meter long tunnel has been constructed exploring the vein and breccia from the shaft in a north-easterly direction with the following results as measured approximately every 2 meters: 16.8 grams/tonne, 21.5 grams/tonne, 24.5 grams/tonne, 10.4 grams/tonne and 33.4 grams/tonne. The DDH2 intersection appeared inside of the brecciated fault zone at the 68-70 meter point. Assay samples taken from just above this zone have averaged in the 10 grams of gold per tonne range.
The mineralization is increasing in the fault vein to gold in quartz and massive arsenopyrite. This fractured fault vein averages 1.3 meters wide and is progressing from breccia to fractured quartz in nature. As mentioned, the vein/porphyritic material was sampled by the geologist approximately every 2 meters. Sampling has been professionally done in accordance with standard practices and are representative of the average ore grade across each area sampled.
A detailed program has now been undertaken to create a comprehensive mining plan for the gold project and the copper project. Due to the consistent findings of increasing mineralization in both the separate gold and copper zones, a decision has been made to now implement a full mining operation. As a result, a consulting Mining Engineer was recommended by Enami to work with us on this project. Enami is the Chilean National Mining Corporation – Empresa Nacional de Mineria – established to promote small and medium size private sector mining in Chile by providing incentives and supplying technical, financial, metallurgical production services in order to help them be competitive. This consulting engineer has been hired to work with our on-site manager to ensure proper details and documentation of the permit applications. In addition, he will also assist in establishing the best extraction methods and ore targets for this particular operation and mineral structure.
While the above mentioned work is in progress, we are continuing to operate under the current permits. Trucks are hauling copper ore daily to the mill as a result of the mining crew extraction of the high grade copper ore. Production at the gold zone will begin when we have more accurately defined the target with our geologist and Engineer. Thus, we expect to add a second crew very soon to bring the gold ore deposits into production. We will continue to provide updates and reports in the future as soon as we have substantive information to share.
On behalf of the Board of Directors
NUOCO/LDM
Cautionary Statement – Forward-Looking Information
This news release may contain certain “forward-looking statements” within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
** Medinah Minerals, Inc. wishes to advise that this is our official Web Site. Medinah Minerals is not responsible for the presentation of any Company information made available on any other site.
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