Bekem Metals, Inc. Announces Completion of Resource Modeling of Nickel/Cobalt Mineral Deposits
08 Mayo 2007 - 3:23PM
PR Newswire (US)
SALT LAKE CITY, May 8 /PRNewswire-FirstCall/ -- Bekem Metals, Inc.,
(OTC Bulletin Board: BKMM) announced today that it has received the
results of a resource estimation for Kempirsai nickel-cobalt
deposit in the Northwest part of Kazakhstan and the Gornostai
nickel-cobalt deposit in the Northeast part of Kazakhstan. Wardell
Armstrong International Ltd (WAI) carried out the Kempirsai
resource modeling based on previous exploration and mining of the
Novo- Shandashinskoye and Kara-Obinskoye deposits, including two
sections -- the Kara-Obinskoye and the Stepninskoye sections during
December 2006 - March 2007 (Report 61-0393). This resource model
was done as an independent audit of an earlier reserves and
resources study conducted during the soviet period on the Kempirsai
property. WAI created a 3D computer block model of in-situ
resources -- excluding previously mined areas. Also a Scoping Study
has been completed by WAI for the South Section of Gornostai
deposit which was completed during December 2006 - March 2007
(Report 61-0387). The Scoping Study is the first step taken by
Bekem Metals to evaluate the results of the drilling activities
being conducted by the Company on the Gornostai property and will
provide the foundation for a preliminary development feasibility
study for Gornostai deposit. The resources were estimated with
different nickel Cut-off-Grade (COG) -- 0.5%, 0.7%, 0.8% and
reported in accordance with the JORC Code (2004). The various COG
estimations will allow flexibility in managing project economics
during operations to respond to nickel market price fluctuations.
Summary results of the WAI resource models are detailed in the
Tables below. The full texts of the WAI reports will be available
for review on the Bekem Metals website:
http://www.bekemmetals.com/. Kempirsai Deposits In Situ Resource
Summary at Different Cut-off-Grade (COG) Resources 0.5% Ni COG 0.7%
Ni COG 0.8% Ni COG Dry Ni Dry Ni Dry Ni Tonnage grade Ni (t)
Tonnage grade Ni (t) Tonnage grade Ni (t) (kt) (%) (kt) (%) (kt)
(%) Kara-Obinskoye Section Measured + Indicated 11547 0.86 99174
9017 0.94 84598 7156 0.99 70593 Stepninskoye Section Indicated 777
0.64 7817 730 1.03 7554 677 1.06 7151 Novo-Shandashinskoye Deposit
Measured + Indicated 970 0.9 1110 851 1.23 10450 830 1.24 10290
Total 13294 0.81 108101 10598 0.97 102602 8663 1.02 88034 Gornostai
Deposit In Situ Resource Summary at Different Cut-off-Grade (COG)
Resources 0.5% Ni COG 0.7% Ni COG 0.8% Ni COG Dry Ni Ni Dry Tonnage
Ni Ni Dry Ni Ni Tonnage grade (kt) (kt) grade (kt) Tonnage grade
(kt) (kt) (%) (%) (kt) (%) Indicated 12700 0.73 92.7 6400 0.85 54.4
3300 0.94 31.0 Inferred 40000 0.69 276.0 15200 0.81 123.1 6400 0.90
57.6 Total 52700 0.70 368.7 21600 0.82 177.5 9700 0.91 88.6
Cautionary Note to U.S. Investors -- The United States Securities
and Exchange Commission (SEC) permits mining companies, in their
filings with the SEC, to disclose only proved (measured) and
probable (indicated) reserves that a company has demonstrated by
actual production or conclusive formation tests to be economically
and legally producible under existing economic and operating
conditions. We use certain terms in this press release to refer to
mineral "resources" that the SEC's guidelines strictly prohibit us
from including in filings with the SEC. Estimates of "resources"
are by their nature more speculative than estimates of "reserves"
and accordingly are subject to substantially greater risk of not
being realized by the Company. In compliance with SEC disclosure
standards the Company has not, and will not in the future, include
resource estimates. U.S. investors are cautioned that future
filings with the SEC will only contain proven and probable reserve
estimates that are compliant with the standards established by the
SEC. Bekem Metals, Inc. is engaged in the exploration and mining
for nickel, cobalt and other minerals in Kazakhstan. The Company
maintains administrative offices in Almaty, Kazakhstan and Salt
Lake City, Utah. For more information please contact Marat
Cherdabayev at +7 (3272) 582 386. The information contained in this
release includes forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially. Certain statements contained herein constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual results, performance or
achievements of the Company to be materially different from those
expressed or implied. Forward-looking statements involve risks and
uncertainties, including but not limited to, such risks as the
sufficiency of funds, implementation of business plans and other
risks described in the Company's periodic reports on file with the
Securities and Exchange Commission. DATASOURCE: Bekem Metals, Inc.
CONTACT: Marat Cherdabayev of Bekem Metals, Inc., +7 (3272) 582 386
Web site: http://www.bekemmetals.com/
Copyright