News vom 8.5.:
PASIG CITY, Philippines, May 08, 2006 (BUSINESS WIRE) -- Pearl Asian Mining Industries (OTC:PAIM) releases the summary
report on initial gold and silver test production from the XYZ Gold Mines Site Mineral Deposits.
Test gold (Au) and silver (Ag) production has recently commenced on schedule at the Pearl Asian Mining Industries XYZ Gold
Mine on the Island of Masbate, Philippines. It has been previously reported that the present Geologic Resource of XYZ Gold
Mine is about 1.5 million tons at a grade of 3.04 g/t-Gold (AU) and 19.96 g/t-Silver (AG). PAIM's team interpretation or
projection as to mineable resource (projected to be mined or extracted) is about 446,592 tons at a grade of 5.13 g/t-Gold
and 31.14 g/t-Silver. The mineable resources are categorized into low grade source of about 120,000 tons at a grade of 1.84
g/t (grams per ton)-Au (Gold) and 14.50 g/t (grams per ton)-Ag (Silver). The high grade source of about 326,592 tons at a
grade of 6.34 g/t-Au; 37.24 g/t-Ag.
Starting in late April 2006 small scale test gold mining and processing has been successfully completed in Tunnel 3 where
the highest grade ore assayed at 94.20 g/ton is found. Approx. 5 tonnes of gold bearing ore were removed using air-hammers
and transported by hand to the Company's small scale processing center nearby. These ores were processed by heap leaching
C-I-L and ELSA methods. The initial results of the processing are 237.8 ounces of raw gold bullion (approx. 93% Au) and
1038.2 ounces of raw silver bullion and a lower purity. At recent spot gold prices of $650 USD/ounce the 6 bars of raw
gold bullion (approx. 93% Au) are worth $143,750.1 USD. These 6 bars of raw gold bullion (approx. 93% Au) will be sold
very shortly at a branch of a japanese bank in Manila, the proceeds to be used to fund an expansion of mining production at
the XYZ mine.
The very concentrated gold ore from Tunnel 3 came from a newly discovered gold mineralized "vug" (GMV) quartzite in
composition with heavy sulfide inclusions as well as obvious gold mineralization. Many multi-gram gold nuggets have been
found in the GMV. The GVM is a cylindrical structure and extends downward into the mine at approx. 30 deg. for at least
7m showing gold mineralizations at least to that depth. This GMV in Tunnel 3 will be the first target of the expanded
mining production to begin this summer.
The XYZ Operation Gold Finger located in the Town of Baleno, Island of Masbate, Philippines, shows the following high-grade
gold ores.
O
GOLD SILVER COPPER REHABILITATE
SAMPLE (GPT) (PPM) (PPM) 2006
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Tunnel 4 IR 0.31 g 1.99 8.59 TBD
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Tunnel 4 2R 0.96 g 7.96 93.84 TBD
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Tunnel 4 7R 0.57 g 4.71 9.24 TBD
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Tunnel 3 2R 94.20 g 608.28 103.09 YES
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Tunnel 3 3R 49.44 g 242.57 25.56 YES
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Tunnel 3 5R 37.36 g 17.46 12.62 YES
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XYZ-GA 3R 8.57 g 17.46 12.62 TBD
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XYZ GA 4R 3.97 g 48.59 27.54 TBD
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XYZ GA 022 5.51 g 12.50 6.45 TBD
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XYZ AG 027 2.10 g 20.51 76.96 TBD
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mfg
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