Junior mining company Silver Bar Mines has been found guilty by a provincial court judge in North Bay, Ont. of filing a press release containing misrepresentations.
Ronald Gilson, president and a director of the company, was convicted of authorizing, permitting or acquiescing in the filing of a press release. Shirley Gilson was acquitted.
A Silver Bar release dated Sept. 18, 1987, announced a production start at the highest-grade copper mine in North America. “Proved up” reserves of 7.5 million tons grading up to 25% copper were announced.
Two geologists who inspected the Silver Bar property testified that the property did not have the type of operation described by the company. Two holes to depths of 12 ft. and 14 ft., respectively, were found, as was some broken rock and a stockpile of 300-400 tons of material. No ore had been shipped from the property and no diamond drilling performed. Sentencing is scheduled for June 26 in North Bay.
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