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Canada Fluorspar Inc. announces a Significant Increase in Mineral Resources
TSXV: CFI TORONTO, May 12 /CNW/ - Canada Fluorspar Inc. (the "Company") is pleased to announce th...
About this update from Bonanza Mining Corporation
[{"type":"text","content":"\n\n\n\nTSXV: CFI\n\n\nTORONTO, May 12 /CNW/ - Canada Fluorspar Inc. (the "Company") is pleased\nto announce that as a result of a new 43-101 compliant technical report\ncompleted by Scott Wilson Roscoe Postle Associates Inc. dated effective April\n30, 2009 that the indicated mineral resources at the Company's St. Lawrence\nproperty have increased by 57% over their July 2008 estimate. "This is a\nsignificant development for the St. Lawrence project", said Lindsay Gorrill,\nPresident & CEO of the Company, "and is another major step forward in the\nre-activation of the Fluorspar mines on the Burin Peninsula."\n\n\nThe company's drilling was completed on two separate identifiable vein\nresources, each of which have a potential to become separate mines:\n\n\n1. Blue Beach Vein, containing approximately 4.4 million tonnes of\n Indicated Mineral Resources at an average grade of 39.0% CaF(2). In\n addition, Blue Beach North Vein contains approximately 355,000 tonnes\n of inferred Mineral Resources at an average grade of 30.0% CaF(2)\n\n2. Tarefare Vein (and the associated Blowout Vein). Containing\n approximately 4.7 million tonnes of Indicated Mineral Resources at an\n average grade of 44.8% CaF(2). In addition, the Blowout Vein contains\n approximately 595,000 tonnes of Inferred Mineral Resources at an\n average grade of 31.8% CaF2.\n\n\nUsing a cut-off grade of 20% CaF(2) and minimum horizontal thickness of\ntwo metres, the Mineral Resources of the St. Lawrence property total\napproximately 9.1 million tonnes of Indicated Mineral Resources at an average\ngrade of 42.0% CaF2 and 950,000 tonnes of Inferred Mineral Resources at an\naverage grade of 31.0% CaF(2).\n\n\nBy comparison, the July 2008 estimate included Measured and Indicated\nMineral Resources of 5.8 million tonnes at 47.6% CaF(2), and Inferred Mineral\nResources of 160,000 tonnes at 36.0% CaF(2), with cut-off grades ranging from\n26.4% to 35.0% CaF(2).\n\n\nSee table below\n\n\n Vein Category Tonnes % CaF(2)\n-------------------------------------------------------------------------\nBlue Beach North Indicated 4,390,000 39.0\n\nTarefare Indicated 4,700,000 44.8\n\nTotal Blue Beach\n North, Tarefare and\n Blowout Veins Total Indicated 9,090,000 42.0\n\n\nBlue Beach North Inferred 355,000 30.0\n\nBlowout Inferred 595,000 31.8\n\nTotal Blue Bea...