Marysville, Mt. November 27, 2002 -- GMRV recently aquired rights to the Nile Adit, mill, and tailings facilities in order to expanded its Nile Project holdings. The aquisiton allows GMRV to operate the Nile Project in a more efficently manner once the project is up and running. The project now encompasses about 40 acres adjacent to the Bell Boy and Towsley/Earthquake mines.
The Bell Boy and Towsley/Earthquake lodes were first discovered around 1877, but production did not begin until later in the 1880's. The Nile and Mammoth claims were worked on a periodic basis until 1948. The Nile project is comprised of four main veins or zones: the Towsley, Nile, General Grant, and Mammoth veins. These veins have all produced varying amouts of ore over the years (USGS Bulletin 842). For example, the Nile vein ran 0.01 - 4.64 opt gold, 2.5 - 7.8 opt silver, 10.0 - 60.0% lead, 0.9 - 5.8% copper, and 1.6 - 13% zinc (reported production from 1899 - 1918, Towsley Mining Co.). The veins are open to depth and to the east, but are cut off by a major fault to the west. GMRV believes that the mine can be operated profitable again at today's prices. "We are very excited about this opportunity to evaluate this property. The Bell Boy Gold Mining Company estimated that the Towsley Vein contained about $2.5 million in gold and the Bell Boy vein contained about $650,000 in gold ore. The Company Geologist claimed that there was over $250,000 worth of ore blocked out in 1948, just prior to the mine shutting down. If even a fractions of that ore is still there, the Nile Project could be a very prosperous venture for GMRV in the years to come." Stated Alan Gilda, Mining Engineer for GMRV.
GMRV plans to seek financing this winter to open the Nile Adit up next spring. The adit accesses the Towsley, Nile, General Grant and possibly the Mammoth veins. The adit intersects the veins about 2-300 feet below the surface. On the surface, the vein Nile Vein average 2 to 4 feet wide and carries 0.01 opt gold, 1.32 opt silver, 0.96% copper, 2.04% lead, and 1.68% zinc. A report to the Towsley Mining Co. indicates that the veins vary from 2 feet to over 10 feet wide and that the oxidized zone extends 20 to 30 feet below the surface. GMRV plans to evaluate the drift, veins, and geology after the portal is secured. GMRV is currently reviewing a one export opportunity for the Nile project ore.
For more information on the Nile Project or GMRV, please feel free to contact -
GMRV
P.O. Box 236
Marysville, Mt. 59640
Ph/Fax (206)350-4701
Marysville, Mt. November 1, 2002 - As of November 1, 2002, GMRV changed its address to: P.O. Box 236 Marysville, Mt. 59640. The change is intended to more accurately reflect GMRV's ongoing activites in the Historic Marysville Mining District and show its support for the community that contributed so much to Montana through its mining activities.
For more information about GMRV or its operations, please contact us at:
GMRV
P.O. Box 236
Marysville, Mt. 59640
Phone/Fax (206)350-4701
Empire, Mt. July 15, 2002 -- Ashington Mining Co. located a new silver/copper vein during their summer field work. The vein appears to be intersected near the top of the structure. Plans are being made to ship a small sample for metallurgical testing this fall.
Their field geologist located the vein while mapping and sampling the main Kelly workings. The mineralized portion of the vein is approximately 8" with an additional 6-8" of barren quartz material. Initial assays returned low-grade silver, gold, copper, and lead credits.
In a related event, GMRV recently completed staking an apparent western extension of the Kelly Vein. The apparent extension was located during the recent field surveying campaign. Initial assays returned nearly 15 opt silver, plus gold, copper, and lead credit. The Silver Ore shaft appears to have last been worked in the 1970's and is now partially caved. GMRV is planning a fall operation to open the shaft for futher evaluation and possible production.
For more information about GMRV or its operations, please contact us at:
GMRV
P.O. Box 545
Canyon Creek, Mt. 59633
Ph/Fax (206)350-4701
Empire, Mt. July 12, 2002 -- GMRV located an lower extension of the StormKing gold vein approximately 100 feet below the current workings. The vein appears to be slightly narrower at this location. No assay samples were taken at that time.
After the vein was located, GMRV commenced adit preparations. All the surface work will be by hand in order to keep the project in compliance with State and Federal limitations. GMRV plans to reach the vein after portal work is completed early next spring. Assay samples of the vein will be taken at that point.
"This portal location will give us good access to the resources with over 100 feet of verticle releif," said Alan Gilda, Mining Engineer. About 50 lbs of ore was removed from the vein for metallurgical testing and will be processed in GMRV's recently completed 1- stamp mill. Pending a sucessful run, GMRV has plans to construct a larger 2-stamp mill that will be be able to process up to 2 tons of ore a day.
For more information about GMRV or its operations, please contact us at
GMRV
P.O. Box 545
Canyon Creek, Mt. 59633
Ph/Fax (206)350-4701
Empire, Mt. May 3, 2002 -- GMRV recently completed staking the Calument-Staples Mine. After intense field work and research during the winter, GMRV located one significant gold bearing fissures and two inferred, but undiscovered, gold bearing structures. The Calumet-Staples Mine is located just 3,000 feet north of the Drummlumond Mine, one of the richest underground gold mines in Montana. The Calumet Fissuer is on strike with the main Drummlumond gold vein.
A mine evaluation report from the early 1900's indicated that ore with values up to 1.10 opt gold and 8.10 opt silver were mined and shipped. Numerous prospect pits and adits delineate the Calumet fissure. GMRV partially opened up one small adit for exploration. Assays yielded gold and silver values. A nearby porphyry intrusion was noted. Major alteration is present around the intrusion which warrents further investigation. Tungsten minerals were obsered and have previously been reported in the area.
The mine is located near Marysville, Mt. and is accessible year round.
For more information about GMRV or its operations, please contact us at:
GMRV
P.O. Box 545
Canyon Creek, Mt. 59633
Ph/Fax (206)350-4701
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