MMN macmin silver ltd

MMN... Texas update.

  1. 963 Posts.
    Potential increase in ore body, price of silver going up.
    Macmin is starting to look attractive.

    Company Announcement


    Texas Silver Project Update

    MACMIN LIMITED 2002-05-17 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    Ore Reserve definition drilling is progressing at the Texas Silver
    Project. As of 17th May 2002, approximately 2,400m in 40 holes had
    been completed, with assay results from 20 holes received. The
    programme is less than 10% completed and a second drill will be added
    in the near future.

    The Directors are particularly pleased to report hole 312, which is
    to the east of the resource boundary. The entire hole averaged 81 g/t
    silver with higher grade intercepts such as 14m at 150g/t silver
    between 20m and 42m (including 4m at 251g/t silver and 0.8g/t gold).
    This hole, and adjacent holes, are encouraging as they appear to
    extend, to the east, the mineralisation of the previously known
    Resources.

    The drilling is initially being conducted on a nominal 25m square
    grid basis, mainly within the area of previously announced Resources.

    Results to date are very encouraging and are similar to the earlier
    resource drilling, and the Directors expect to be in a position to
    announce new Ore Reserves in due course.


    R D McNeil
    MANAGING DIRECTOR

    I hold MMN
 
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