so evg may have two 1 million ounce gold deposits to work on next year..... not bad for a 8.2c stock....
ENVIROGOLD RECEIVES CONFIRMATION OF PLUS MILLION OUNCE GOLD MINING TARGET, AZUAY ECUADOR
The Conclusions contained in Buscore??s Report are as follows: ?h The extensive sampling completed by Buscore on both Papercorp and Pinglio concessions collectively reinforces the prospect that the two project areas have the potential to host a combined mining target of approximately 4.0 million tonnes at grades of 10g/t to 12g/t which could produce over 1 million ounces of gold. 2 ?h The estimation of tonnes is based on very conservative volume estimation. It will be possible to rapidly expand the volume of the mineralized targets with well placed surface and underground drill holes.
?h The original sampling completed in August 2009 suggested that the Pinglio working area had the potential to host 132,860 oz of gold at 16.72 g/t. As with Papercorp, the detailed mapping and sampling has significantly upgraded the grade and tonnage potential of the Pinglio area to approximately 600,000 tonnes at around 18 g/t hosting over 300,000 ounces of gold.
?h Sampling in August 2009 suggested that the Papercorp deposit could host 251,081 tonnes at around 4.10 g/t. The more detailed sampling just completed has significantly increased the grade potential of this deposit to approximately 12.0 g/t. Surface and U/G drilling can significantly increase the overall tonnage of the deposit area.
?h The Bellavista fault gouge (a shear zone consisting of ground host rock material) is strongly mineralized and contains much more gold than expected. Laterally, Bellavista is very extensive and is proving to be easily extracted using simple mining methods. This is one of the more interesting near surface targets and should be followed up as a priority.
?h Underground drilling could be conducted on a number of the Lower Papercorp veins and Pinglio veins. Most of the Upper Papercorp veins are best drilled from surface, and all of the Pinglio veins should be drilled from surface. A sequence of 100 to 300 metres holes can be completed to test all the veins structures in both project areas. A two-phase approach is recommended. Phase I would drill out both project areas at 100 metres centres. If positive results are obtained, then Phase II would commence with the goal of drilling both project areas to 50 metre centres. A resource study would commence shortly after that.
EVG Price at posting:
8.2¢ Sentiment: LT Buy Disclosure: Held
