International Gold Resources Reports on Findings of Independent Geological Report on One of Its Brazilian Properties
January 10 2006 - 12:05PM
Business Wire
International Gold Resources Inc. ("IGR") (OTCBB:IGRU) is pleased
to announce the findings of the first independent geological report
on one of its Brazilian properties. This confirms the mineral
resource and ultimately mineral reserves as part of the IGR
portfolio of properties. IGR received a favorable geological report
conducted by an independent Brazilian geologist, Mr. Jose Guimaraes
Cavalcante. The report has been translated into English and the
findings are summarized as follows: Based on the work done by Mr.
Cavalcante at the tailings properties situated near Lourenco in
Amapa State, there an estimated gold resource contained in the five
tailings areas equivalent to 20,727261 cubic meters, with an
average density of approximately 1.7 ton/m(3), which equates to
35,236343.7 tons. With the gold content varying between 0.8 to 1.1
grams per ton, total resource is estimated at 28,921408.8 grams of
gold, or 930,000 ounces. The report goes on to recommend that IGR
install a gravity flow plant to re-win the gold in these tailings.
IGR has commissioned a recovery plant, which is in the final stages
of construction. Upon completion, the plant will be shipped to
Lourenco, where IGR plans to begin its gold recovery production.
About International Gold Resources, Inc. The vision of
International Gold Resources, Inc. (IGRU) is to secure, explore,
and develop properties in Amapa State, Brazil. Our Brazilian
mineral properties are comprised of approximately 210,000 hectares
(520,000 acres) within the Brazilian Amapa belt, part of the
Precambrian Guyana Shield. To date, over 50 million ounces of gold
have been recovered in the Guyana Shield, the most prolific gold
belt in South America. At this time, we are a junior mining firm,
with both immediate and future production potential. The statements
in the press release that relate to the company's expectations with
regard to the future impact on the company's results from new
products or actions in development are forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act
of 1995. The statements in this document may also contain
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Since this information may contain statements
that involve risk and uncertainties and are subject to change at
any time, the company's actual results may differ materially from
expected results.
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