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Post by Franko10 ™ on Mar 3, 2005 16:57:34 GMT -5
War Eagle Mining Company Inc.: Tres Marias Mine Exploration and Development Underway (bwire)
VANCOUVER, British Columbia (Business Wire) -- War Eagle Mining Company Inc. (TSX VENTURE: WAR) War Eagle Mining Company Inc. closes the first $400,000 of the proposed $1 million financing and the Tres Marias Mine Development program is underway.
During the first quarter of 2005 and in preparation for the underground drilling and sampling program the Company is purchasing the required surveying and sampling equipment as well as installing the air and water lines to the 6th level. Photogeology mapping of the entire concession continues, along with geochemical analysis and geophysical reporting.
The extensive underground workings will be sampled and assayed during the second quarter of 2005 and the underground and surface drill programs will follow.
The Tres Marias mine last produced high-grade zinc/germanium ore in 1992 but was shut down by the operator, Zinc National S.A., when the smelter used to treat the ore in Monterrey Mexico was forced to close. The average grade of ore produced from the mine since 1948 is 20% zinc, 400gm/ton germanium and 6% lead. Given today's metal prices, the ore would have a value of more than US $500 per ton. War Eagle's development program hopes to prove a minimum minerable resource of 500,000 tonnes with the potential to add additional tonnage considering the numerous targets identified on the concession to date.
Terence F. Schorn, P. Geo, President
War Eagle Mining Company Inc.
CUSIP. No. 933901209
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
War Eagle Mining Company Inc.
Bob Faris
Vice President, Corporate Development
1-800-877-1626 or (604) 606-7973
www.wareaglemining.com
VANCOUVER, British Columbia (Business Wire) -- War Eagle Mining Company Inc. (TSX VENTURE: WAR) War Eagle Mining Company Inc. closes the first $400,000 of the proposed $1 million financing and the Tres Marias Mine Development program is underway.
During the first quarter of 2005 and in preparation for the underground drilling and sampling program the Company is purchasing the required surveying and sampling equipment as well as installing the air and water lines to the 6th level. Photogeology mapping of the entire concession continues, along with geochemical analysis and geophysical reporting.
The extensive underground workings will be sampled and assayed during the second quarter of 2005 and the underground and surface drill programs will follow.
The Tres Marias mine last produced high-grade zinc/germanium ore in 1992 but was shut down by the operator, Zinc National S.A., when the smelter used to treat the ore in Monterrey Mexico was forced to close. The average grade of ore produced from the mine since 1948 is 20% zinc, 400gm/ton germanium and 6% lead. Given today's metal prices, the ore would have a value of more than US $500 per ton. War Eagle's development program hopes to prove a minimum minerable resource of 500,000 tonnes with the potential to add additional tonnage considering the numerous targets identified on the concession to date.
Terence F. Schorn, P. Geo, President
War Eagle Mining Company Inc.
CUSIP. No. 933901209
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
War Eagle Mining Company Inc.
Bob Faris
Vice President, Corporate Development
1-800-877-1626 or (604) 606-7973
www.wareaglemining.com
