Jack Daniels Does It Again
posted on
May 25, 2009 06:45PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Ol' Jack Daniels does it again. A white lie here, an exaggeration there, a neglected truth permeating
his whole article....GRZ goes down lots today and maybe tomorrow, too. A simple google search
came up with this on Reuters.....
http://www.reuters.com/finance/stock...
Here's the pertinent part...the accent is mine.....I wonder why Jack Daniels left this out?????
"Brisas gold and copper project (Brisas) is located in the Kilometers 88 mining district in the State of Bolivar in southeastern Venezuela approximately 373 kilometers (229 miles), by paved highway, southeast of Puerto Ordaz. The project, accessible by an all-weather road, is five kilometers west of the Kilometers 88 marker on Highway 10. The primary Brisas property is a 500-hectare land parcel consisting of the Brisas alluvial concession and the Brisas hardrock concession beneath the alluvial concession (the Brisas concessions). Together these concessions contain substantially all of the mineralization identified in the Bankable Feasibility Study, as updated. Brisas also includes a number of other existing concessions (such as the El Pauji concession) or pending applications for concessions, alfarjetas, CVG work contracts, land use authorizations or easements adjacent to or near the Brisas concessions for the mining and milling facility, related infrastructure and future needs totaling as much as 13,000 hectares. In 2008, the Company has received accreditation letters of technical compliance from the Venezuelan Ministry of Mines (MIBAM) for all of the properties that comprise Brisas. The Brisas hardrock concession (which is beneath the Brisas alluvial concession) is for the exploitation of hardrock gold, copper and molybdenum and was granted by MIBAM.
The Brisas hardrock concession is the main ore-body, comprising approximately 97% of the gold and 100% of the copper mineralization contained within the properties. The Brisas hardrock concession is an exploitation concession with a term of 20 years and two renewal periods of 10 years each, at the discretion of MIBAM. Brisas is within the Proterozoic granite-greenstone terrain of the Guyana shield. The shield covers eastern Colombia, southeastern Venezuela, Guyana, Suriname, French Guiana and northeastern Brazil. The Brisas property is divided into weathered and unweathered material. Brisas is estimated to contain a proven and probable mineral reserve of approximately 10.2 million ounces of gold and 1.4 billion pounds of copper."