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Show Celebrating more than 92 years of service to the citizens of Eureka. Volume Ninety-Fiv- EUREKA, UTAH - May 26, 2000 e Price $.40 Numberjl Imm stows pQd, steir ipromoses NEW YOR- K- (Business Wire) May 15,2000. Chief Con- solidated Mining Company (Nasdaq: CFCM) announced today tha n independent assay labo- ratory had confirmed Chiefs Own laboratory assay results covering a 30 foot gold and silver intercept contained in a surface drillhole located on its Trixie Mine property. The independent laboratory reported that the 30 foot intercept at a depth of between 630 and 660 feet, contained a per ton average grade of 3.2 ounces of gold and 7. 1 ounces of silver, with grades through the 30 foot ineralized area running between 1.4 and 6.5 ounces of gold and between 2.9 and 1 1 .3 ounces of silver per ton. The Trixie Mine is located in the East Tintic District of Utah on the A surface drilling program at Trixie Mine was initiated in the April 2000, and will eventually consist of 15 to 20 surface drillholes over extended areas of Trixie Mine property. The reported drillhole is located adjacent to the gold and silver zones that were mined some twenty years ago by Kennecott Corporation when Kennecott was lessee of the Trixie Mine. One purpose of the ongoing exploration program is to locate Henry Wall Henry Wall named Senior Citizen of the year here May 17, 2000. Afton Berry asked the blesson the food, and all enjoyed ing a delicious roast beef dinner prepared by Mary Lou and Roy Gourley. Tarsuia Lucas, Maxine Schow, Dorothy Allinson, and Max Berry carved the meat. Dessert was a double-lay- er chocolate cake with "Congratulations Hairy Wall, Senior Citizen of the Year" written on top. Leah Towers adn Edna Jasper had decorated the hall and s, tables with minature horses, miner's lamps, horseshoes, caribou and even a jackalope. lan-ton- Pictures from Henry's life adorned the foyer table. Door prizes were won by Grace Bernini, Helen Wall, and Ron Cones. The program started with tributes and memories of dad, by Deanna Sorenson, Carl Wall and Don Wall. Henry was known for 5" orebody. As part of its drilling program, Chief intends to located several drillholes near the reported drillhole: to expedite the determination as to whether or not ore reserves can be developed in this location that can be profitabl mined. If further drilling results continue to be positive. Chief will report those results and their significance to Chief and its shareholders. The drilling program is expected to be completed in about one month. No assurance as to the existance of an economically viable gold and silver orebody can be given at this time based on the assay result of a single drillhole, property of Chiefs wholly owned subsidiary, Cfief Gold Mines, Inc. Leonard Weitz, President of Chief, stated that he was pleased to report that the extremely high grade of gold contained in the reported drillhole had the potential of constituting one of die most significant gold findings in the United States in recent years. Hairy Wall was honored as Senior Citizen of the Year at the Young at Heart Club at noon on the geologically projected extensions of the significant gold and silver grades contained in die "75-8orebody mined by Kennecott. Kennecott had reported the mining of precious metal ores containing values as high as 30 ounces of gold and 40 ounces of silver per ton from the "75-85- " his expertise with rifles, and love of horses, hunting, and the great and dry wit. Music and humor was provided by Fred Gaibett and Dave Garbett, as oily they can do, to our delight! Leah Towers made the program complete with her accordion renditions! out-of-doo- rs, cessed in the newly rehabilitated concentrating mill located on adjacent property woned by Tintic Utah Metals LLC, in which Chief owns 75 vested interest. It is anticipated that the concentrating mill will become operational within the next 30 days. gold-silver-cop- District to hire five student workers Recently five students had been interviewed for the summer hire and to fill the two full time student positions, as what was reported by the Superintendent at this month's meeting. She re- ported that out of the student workers that are now in place even though these results are gighly significant standing on their own. working for the school maintenance program, only two will be staying on this summer. Yet their availability to work is sporadic. Given this situation, the Superintendent recommended hiring the The Trixie Mine is fully permitted and operational at this time. As stated in Chiefs 1999 it is anticipated Form that mining from the areas of the Trixie Mine that are already accessible will begin later this year. Trixie Mine ores will be pro- - five student student summer applicants instead of just two. The motion was then made and passed to hire all five students and to retain Justin Gourley and Ben Stanger as the full time student workers. 10-KS- B, producing both gold and silva ores and concentrates initially from surface stockpiled material previously mined from the Trixie Mine. Processing of newly mined ore from the currently accessible areas of the Trixie Mine is anticipated to begin before the end of 2000, at shich time concentrating mill production will be increased. Safe Harbor Statement under the Private Securities Reform Act of 1995: This news release contains statements which are not historical facts, such as antici- pated production, exploration results and projections and therestatefore are "forward-lookin- g ments" within the meaning ot the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, the following: the gold and silver values found in the reported drillhole proves not to be an extension or part of an orebody that can be profitably mined; even if subsequent surface drilling confirms the presence of additional high values of gold and silva ores in the immediate area, the profitable mining of the area is not commercially feasible. Group plans theme get raises park in Tintic Tintic staff At this month's District Board Meeting, Superintendent reported that the teachers of the Tintic District have accepted and President Margaret Fennell expressed appreciation for a 5 presented Henry with a card and salary increase next year. The gift from the Seniors. His family increase was built in on the overpresented him with a framed, all salary schedule after which an addendum to the schedule was amazingly perfect hand-draw- n own our caribou a of added which would allot an addiby picture Snell! local artist, Jeremy tional $600.00 to teacher salaries Attendees from Henry's famon the first five steps and lanes adn Deanna Kay with a BS, BS15, and BS30 ily were Sorenson, Don and Noel Wall, credit hours. This would meet die Carl and Helen Wall, Doug and intent of the Legislature to proJoanie Wall and daughters Bailey vide teachers on the low end of and Sierra, Mike Sorenson, Carla the schedule added compensation. The Board then made a mo- Morgan and baby1, Ed and Ludene Fields, and Howard Fields (cous- tion to adopt the 5 salary schedule with the addendum to allow ins). Watch for Henry in die Tintic extra compensation to the teachFestival Parade! June 7th will be ers as outline. The motion passed the next Seniors luncheon. unanimously. Activities that will be offered Steve Turner and Marty mine and ghost town include the for Sutton, Wild West Tours here in Eureka, tours, Old Western gun fight have set their plans for building shows, stage coach tours which ers a Wild West Thane Park that will attract tourists and build interest in the Tintic area. The park will be constructed on die land of Jim Lamont located at the 130 mile marker on Highway 6, and will consist of a WestemTown built with the tops and backs of the building open like a stage set, an American Indian Villiage complete with tepees and a stage for shows, and a windmill and well. The development will take time, and is planned to be completed ova a series of stages, the first step building the interest of tourists. will include robberies and attacks by Indians, ATV tours, wagon and hayride tours, buggy rides, TNT Mountain Men rendezvous, Indian dancing and shows ova dinner which will include square dancing. Bathroom facilities will also be available. As soon as the Wild West web page is finished and their business license is granted, six travel agencies will be ready to begin booking tours, all of which will begin and end at Linda's Summit Dina hae in Eureka. This will be Tintic' s chance to really show off everything it's got to people from all ova the world. |