writing is on the wall. no resource after 20,000m
you've either got to be an idiot, or a promoter to try and produce from a property that has no resource and probably never will.
they aren't idiots. dont be a bagholder. this is a pump and dump as pure as they get.
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.