20,000m drilled no resource?so let me get this straight.
20,000m drilled but no resource defined.
plus. "there has been insufficient exploration done to define a resource" (which means there is no resource of measureable size)
its uncertain that additional exploration will define a mineral resource
but somehow they are going to do more drilling and compile a 43-101 resource.
that has to be the funniest thing i have ever heard. so there is what one high grade vein that maybe has under 100,000 tonnes in it and they are doing bulk samples to promote the stock????
looks like a CAJ HAO MENV type of company. oh wait. same director from CAJ. oh and Jason Gigliotti is selling them property. hahaha. now it all makes sense. Hey these guys are great promoters just dont be caught holding the bag when the music stops. That explains the massive dumpping by Anon.
remember folks. nobody mines without a defined resource.
ggup
Encore Renaissance options 60% of Bonaparte property
2009-04-14 16:06 ET - News Release
Mr. Michael Mulberry reports
ENCORE RENAISSANCE RESOURCES CORP. ACQUIRES OPTION ON HIGH GRADE BC GOLD MINE PROPERTY
Encore Renaissance Resources Corp. has acquired an option to purchase a 60-per-cent interest in the Bonaparte mine property located approximately 35 kilometres north of Kamloops, B.C., for the payment of a total amount of 20 million shares and $7-million over the next two years in staged payments and the incurring of expenditures to take the property into production.
Encore will also undertake as part of its option to acquire its interest in the Bonaparte gold mine property, the permitted 10,000-tonne bulk sample, initially by decline underground mining from surface, of the same vein material that was bulk sampled in the 1990s.
As reported by Shaun Dykes of Geologic Systems Ltd. in his report entitled, "Status report -- Bonaparte gold property," November, 2003, the sample consisted of approximately 3.425 tonnes with a recovered grade of 26 grams per tonne gold (0.75 ounce per ton) from the surface trace of one of the over 13 identified vein systems on the property.
No resource has been estimated although over 20,000 feet of drilling has been completed. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Current operations will help to establish a recoverable grade, and with the proposed exploration and development drilling, will enable Encore to not only design and apply for a full mining and on-site milling operation but to complete a 43-101-compliant resource calculation on the property.
Additional exploration drilling also financed by Encore will focus on other identified veins that have reported multiounce values of gold.
This transaction is subject to TSX Venture Exchange approval and the contents of this news released have been reviewed by Laurence Stephenson, PEng, the designated qualified person.