copper spec set to soar!

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    At current prices the market has valued SFG Bolivian copper project at NOTHING. If copper continues to rise, it may be an interesting play.

    Announcement
    13th October, 1998





    Latest results confirm large size potential of the
    Bolivian Copper Project


    The regional reconnaissance programme at the
    Chacarilla Project has now been completed and the
    final results received.

    This exploration was designed to investigate
    outcropping copper mineralisation between the
    Chacarilla and Veta Verde mining centres. In the
    earlier portion of this study, a significant
    lithological trend hosting multiple zones of
    outcropping copper mineralisation was recognised
    extending 35 kilometres northwest from Chacarilla
    towards Veta Verde.

    Numerous additional copper prospects warranting R/C
    drill evaluation have now been identified from the
    rock chip sampling.

    More major mineralised zones include:

    1. 16 de Julio-Explotada �E5 poorly outcropping
    cupriferous mantos up to 3.0m thick, strike for in
    excess of 2,000m. There are numerous shallow workings
    along this trend which is extensively concealed
    beneath transported alluvium. Channel samples from
    this zone include 1.00m @ 10.40% Cu and 1.40m @ 20.20%
    Cu. Mullock samples from the shallow workings assayed
    4.75% Cu, 7.25% Cu and 7.74% Cu.

    2. El Carmen �Ea poorly outcropping, secondary
    parallel zone hosting multiple copper mantos. Assays
    of 1.00m @ 2.65% Cu and 1.00m @ 3.68% Cu were received
    from channel deposits at this site.

    3. El Hogar-Trinidad �Estrongly outcropping, multiple
    copper mantos up to 3.5m thick and striking for in
    excess of 3,000m. Channel samples returned assays of
    1.00m @ 2.75% Cu and 0.80 @ 2.50% Cu with mullock
    samples up to 5.00% Cu

    4. Pucara-Dinamita �Estrongly outcropping, multiple
    copper mantos up to 4.0m thick and striking in excess
    of 1,200m. Channel sampling in this area returned
    results such as 3.00m @ 6.28% Cu, 3.30m @ 4.12% Cu and
    4.60m @ 4.22% Cu.

    5. Extensions to Veta Verde �Esignificant potential
    exists within close proximity to the Veta Verde mining
    centre for additional oxide copper resources. Future
    reconnaissance exploration will be required in the
    Veta Verde area to comprehensively evaluate the
    extensions of the known copper mineralisation.

    In general, geological reconnaissance of the
    Chacarilla region has indicated substantial potential
    for the identification and delineation of open pit
    extractible oxide copper resources amenable to SX-EW
    extraction methods additional to those currently being
    assessed at the Chacarilla mining centre. Further
    exploration is warranted to define and prioritise
    targets for R/C drill testing. A report on this
    programme is currently being prepared.

    The information on mineralisation contained in this
    report accurately reflects data compiled by Mr I
    O’Grady. Mr O’Grady is a consultant of St Francis
    Mining NL who is a competent person as defined in the
    Australian Code for Reporting of Identified Mineral
    Resources and Ore Reserves, with relevant experience
    in relation to such mineralisation.


    Ian Sandover
    Director


    Stronger copper prices enhance Sossego's prospects




    Brazil, Aug 29, 2003 (BNamericas.com via COMTEX) -- A
    stronger metals market is boosting revenue forecasts
    for Brazilian mining and metals giant CVRD (NYSE:
    RIO), a company executive told investors.

    "The change in expectations regarding global economic
    growth is pushing metals prices up. In the case of
    copper, prices increased from US$0.70/lb at December
    2002 to almost US$0.80/lb currently, " said Roberto
    Castello Branco, the company's head of investor
    relations.

    For 2004, some analysts are forecasting an average
    copper price of US$0.85/lb, compared to CVRD's initial
    estimate of US$0.75/lb for next year, he said. "The
    new price scenario bodes well for the Sossego project
    which will start operations in mid 2004," the
    executive said. Spot copper closed at US$0.792/lb on
    the London Metal Exchange on Friday.

    Sossego is due to produce 140,000t/y of copper in
    concentrates plus 100,000oz/y gold. The mine's
    reserves are put at 196Mt grading 1.02% copper and
    0.3g/t gold.

    Of the total US$383mn capex estimated for Sossego,
    US$128mn was invested in the first half of 2003, CVRD
    said. Serra de Sossego is one of five copper projects
    - the others being Salobo, Alemao, Cristalino and 188
    - that CVRD and its partners are developing in the
    Carajas mining complex in northern Brazil's Para
    state.

    The five will require total investment of US$2.6bn, of
    which CVRD is responsible for at least US$1.5bn.
    Together the mines are due to produce 690,000t/y
    copper when they are all in operation by 2007.

    Rio de Janeiro-based CVRD, with diversified metals and
    mining operations, has a market capitalization of over
    US$14bn. It is the world's largest iron ore producer.

    http://www.bnamericas.com





 
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