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PAIM - Forward Split Heaven !! Gold Mine
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[QUOTE]Originally posted by 7 of 9: [QB] 7 never lies. This is serious pumping. Truly heaven for us. Holding 10M * 2 Pearl Asian Mining Industries: Significant Gold and Silver Deposits Discovered at the XYZ Gold Mine: Geologist Recoverable Yield Estimate 1.5 Million Tons, an Average Grade of 6.34 Grams/Ton Gold (AU) and 37.24 Grams/Ton Silver (AG) in 20 Hectares Only Business Wire - February 08, 2006 14:02 Estimated Gross Value of $327,930,000.00 at $500.00/Ounce of Gold and $19,444,300.00 at $8.00/Ounce of Silver PASIG CITY, Philippines, Feb 08, 2006 (BUSINESS WIRE) -- Pearl Asian Mining Industries (OTC:PAIM) releases the summary report on the Geological Resource Studies within the 20 hectares of the XYZ Gold Mines Site Mineral Deposits. The current tenement portfolios of PAIM are: (1) Small Scale Mining Claim Permit (SSMP) - 20 hectares, (2) Mineral Production Sharing Agreement (MPSA) - 720.00 hectares, (3) Exploration Permit Application (EPA) - 1,807.4773 hectares. The recent exploration based on the Geological report of the Gil Apuya's MAYON Geological Company states that the present Geologic Resource of XYZ Gold Mine is about 1.5 million tons at a grade of 3.04 g/t-Gold (AU) and 19.96 g/t-Silver (AG). PAIM's team interpretation or projection as to mineable resource (projected to be mined or extracted) is about 446,592 tons at a grade of 5.13 g/t-Gold and 31.14 g/t-Silver. The mineable resources are categorized into low grade source of about 120,000 tons at a grade of 1.84 g/t (grams per ton)-Au (Gold) and 14.50 g/t (grams per ton)-Ag (Silver). The high grade source of about 326,592 tons at a grade of 6.34 g/t-Au; 37.24 g/t-Ag. These ores to be mined will be processed by heap leaching C-I-L and ELSA methods. The abandoned tunnels 3 and 4 are included in the projected high grade zone. The high grade zone or block of mineable resource of 326,592 tons using interpolation started from trench no. 1 at elevation 220 meters up to trench no. 4 at elevation 300 meters with a strike length of 400 meters. The 400 meters strike length was projected downward until elevation 160 meters, where abandoned tunnel no. 1 is situated. The average grade of the block of 6.34 g/t-AU; 37.24 g/t-AG were derived from the surface of tunnels 3 and 4 samples. The block grades were projections and will be confirmed once the tunnels are rehabilitated and sampled. The estimates are based on projections derived from trench 1 down to tunnel 1 and possibly beyond tunnel 1 extending east and is subject for field investigation. Basing on the initial exploration results, the XYZ mineral deposit is an epithermal vein type deposit. The extent of the deposit at depth must be further studied through rehabilitation of old tunnels and core drilling to acquire more geological data and increase resource potential. Forward-Looking Statements This news release may contain forward-looking statements concerning the Company's business and future prospects and other similar statements that do not concern matters of historical fact. This forward-looking statement is based on the Company's current expectations. There are numerous factors that could cause results to differ and the Company's current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures. The Company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information. PEARL ASIAN MINING INDUSTRIES INC. (PAIM) SUMMARY OF CALCULATION TENEMENT PORTFOLIOS Area (in hectares) ------------------- Small Scale Mining Claim Permit (SSMP) 20.00 Mineral Production Sharing Agreement (MPSA) 720.00 Exploration Permit Application (EPA) 1,807.4773 ---------------------------------------------------------------------- Grade Per Ton ------------- XYZ GOLD MINE (in tons) (Au) (Ag) ---------------------------------------------------------------------- Geologic Resource 1,500,000.00 3.04 19.96 Mineable Resource 446,592.00 5.13 31.14 Low Grade 120,000.00 1.84 14.50 High Grade 326,592.00 Average Grade 6.34 37.24 I. ELSA METHODS 10,000 Tons/Month at 10 Cu. Metric/Hr. NOTE: 12 Months X 10,000 Tons/Month 120,000 Tons/Year 1,500,000 Tons Divide By 120,000 Tons 12.5 Years II. INCOME RECOVERY 1KG = 32.1507 Ounces (Oz) 136 Kg/Month = 1632 Kg/Yr = 52,469 Oz $500.00/Oz $26,234,400 504 Kg/Month = 6048 Kg/Yr = 194,443 Oz $8.00/Oz $1,555,544 A. TOTAL GROSS METALS CONTENT $27,789,944 B. (Less 40% Direct & Indirect Expenses) ($11,115,978) C. TOTAL PROJECTED NET INCOME $16,673,966 III. TARGET INCOME & VALUE OF THE MINERAL DEPOSITS OF 1.5 MILLION TONS OF ORES 12.5 Years X $26,234,400 $327,930,000.00 GOLD (Au) of GOLD (Au) 12.5 Years X $1,555,544 $19,444,300.00 SILVER (Ag) of SILVER (Ag) A. TOTAL OF GROSS METALS CONTENT $347,374,300.00 B. (Less 40% Direct & Indirect Expenses) $138,950,920.00 C. TOTAL PROJECTED NET INCOME $208,423,380.00 SOURCE: Pearl Asian Mining Industries Inc. Pearl Asian Mining Industries Inc. USA: E. Pearl Asian, 650-814-3268 877-317-4430 (fax) IR*PearlAsianMining.com [URL=http://www.PearlAsianMining.com]www.PearlAsianMining.com[/URL] or Philippines: Investor Relations, +63-2-490-0140 +63-2-490-0144 (fax) [/QB][/QUOTE]
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