Your article, “Regulators probe Bull River” (T.N.M., Feb.7-13/00), requires the companies to respond. Government geologists, in their report, acknowledge the thousands of metres of drilling and underground exploration conducted by the companies. While these geologists reported the results of only 15 assays, your newspaper omitted to print their conclusion that, “Further and more detailed study, using standard techniques, would be necessary to confirm what grades are in fact present.”
The companies have advised their shareholders and wish to inform your readers that independent engineering consultants commissioned by the companies are, under chain of custody, completing their supervision of the assaying of 700 samples to complete the 1999 assay program. The companies expect to issue a prefeasibility report by the end of the first quarter of this year, and are confident that their previous grades reported will be confirmed.
(Editor’s note: The low assay results for gold and silver reported by the government geologists, which cast doubt on the veracity of grades reported by Bul River Mineral and Gallowai Mining, are consistent with Placid Oil’s records of past production [1971 to 1974] and with its published reserves of that time.)
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