BRYN Resources Inc Provides Property Report on Cayenne's Windflower Property
13 Novembro 2009 - 7:05PM
PR Newswire (US)
TORONTO, Nov. 13 /PRNewswire-FirstCall/ -- BRYN Resources Inc
(PINKSHEETS: BRYN) (PINKSHEETS: BRYN.PK). Further to Bryn
Resources' previous news release today on the signing of the
Windflower Property LOI, Bryn Resources is please to provide
additional information relating to the Property. A Report on the
property, in compliance with the requirements of National
Instrument 43-101, dated April 1, 2006, was prepared by Alex
Burton, P.Eng., P.Geo. Consulting Geologist (and now a Director of
the Company), and Brian Simmons, P.Eng., Consulting Mining
Engineer. Printed below are extracts from the Report consisting of
the "Summary" and "Recommendations". SUMMARY "The Windflower
Project owned by Cayenne Gold Mines Ltd. consists of 14 contiguous
Crown Granted Mineral Claims located in the Kootenay District of
British Columbia. The gold bearing quartz vein systems, the target
of exploration on the property, appear to be structurally related
to major shear zones, which strike northwesterly across the
property. Quartz veining varies from a few centimeters to 6 meters
in width. The quartz veins appear to be associated with the
regional fault structures. The quartz veins carry siderite, pyrite
and associated gold mineralization. The quartz veins appear almost
as stockworks in some areas. In 1903/04 production from the
Goldfinch claim was 1,316 tonnes grading 15.9 grams gold/tonne and
4.3 grams silver/tonne. From 1985 to 1990. Granges Exploration Ltd.
performed an extensive exploration program. Work consisted of
geochemical, magnetometer and electromagnetic surveys, 209 surface
& underground diamond drill holes, and 1206 meters of
underground development. The Dorothy (Main) and Dorothy North Zone
have a Measured Mineral Resource of 142,600 tonnes at 6.2
grams/tonne gold. The East Zone has an Indicated Mineral Resource
of 46,400 tonnes at a grade of 12.8 grams/tonne gold. The ore zones
are steeply dipping and have a good mining width averaging over 3
meters. Very little underground development is required to start
mining the Dorothy (Main) Zone. The East Zones and Dorothy North
Zone are in close proximity to the existing underground workings.
With the additional 10 surface diamond drill holes drilled in the
Dorothy North Zone in 1989/90, the Dorothy North Zone now has 6 ore
grade drill intersections with good widths. The 1989/90 drilling
was done after the Measured Mineral Resources were calculated. This
drilling will add to the existing Measured Mineral Resources. Also,
the Dorothy North Zone is still open at depth to the North. The
West, Goldfinch, and Menhinick Creek Zones are also good
exploration targets that could add to the mineral resources. There
is also a good chance of additional vein and possible stockwork
exploration targets being found on the Windflower Project. Gold
recoveries greater than 90% can be expected using cyanidation or
cyanidation of a bulk flotation concentrate. With the carbonate
minerals present the risk of acid mine drainage is low. Water
samples analyzed from the historic workings and decline were in the
pH range of 7.2 to 7.5. Existing reclamation work required on the
Windflower Project is minimal. Road access to the Windflower
property is good. Proximity to the nearest population center is
only 1 1/2 hours by road. With the current price of gold at $560
US/oz(1) and climbing, the wide mining widths of the ore zones,
existing underground development, and good exploration potential,
the Windflower Project is an advanced exploration project. The
Phase 1 work program in the qualified person's opinions will cost
approximately $250,000. The work will consist mainly of site
rehabilitation, relogging of diamond drill core, dewatering the
underground workings and reviewing the geology to formulate an
advanced exploration program. Contingent on positive results from
Phase 1, Phase 2 would include an advanced exploration program to
expand the existing mineral resources, and the mining of a test
stope to confirm grade and mining conditions." On the expectation
of positive results from Phase 1, Phase 2 would include an advanced
exploration program to expand the mineral resources and the mining
of a test stope to confirm grade and mining conditions. While the
Report refers to the price of gold as $560 (U.S.) per ounce, the
price has increased to an excess of $1,100 (U.S.) per ounce. As a
result, the expectation for profits is greatly increased. It
appears as though the Windflower property has approx. 30,000 oz. of
proven gold mineralization which at present values would generate
$33,000,000 subject to extraction costs. It appears as though the
Windflower property has great potential for realization of
increased mineralization which has yet to be tapped. Negotiations
are being held to obtain financing for this project.
Forward-looking statements in this release are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including without limitation, continued acceptance of the Company's
products, increased levels of competition for the Company, products
and technological changes, the Company's dependence on third-party
suppliers, and other risks detailed from to time in the Company's
periodic reports filed with the Securities and Exchange Commission.
DATASOURCE: Bryn Resources CONTACT: on Bryn Resources Inc, please
visit http://www.brynresources.com/
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