Company: .HE - 5 Resources Corporation.
OTC: HRRP.PK
HE-5 Resources, Corp. Acquires Interest in Ruby #1 and #2 Mine
NEW YORK, NY--(MARKET WIRE)--Mar 27, 2006 -- HE-5 Resources, Corp. (Other OTC:HRRP.PK - News), is pleased to announce that, upon completion of an extensive due diligence on the property, it has acquired a 40% interest in a Lease Option Agreement for the Ruby #1 and #2 unpatented mining claims situated in Mono County, California. More precisely, the claims are located near the California-Nevada border in eastern Mono County, California, about 150 miles southeast of Reno, Nevada and in the vicinity of Fish Lake Valley.
The claims encompass the workings of the Green Monster Mine, which has a history of small, but high-grade production from carbonate replacement deposits. Between 1938 and 1953, the mine produced 781 tons yielding 40,329 oz silver (Ag), 6,916 lbs copper (Cu), 46,767 lbs. lead (Pb), and 5,775 lbs. zinc (Zn). (Source: US Bureau of Mines)
The mine workings contain an un-mined indicated resource totalling 1,650 tons grading 28.0 oz / ton (opt) Ag, .70 % Cu, 1.0 % Pb, and 4.0 % Zn, plus an additional inferred resource totalling 1,100 tons grading 17.0 opt Ag, .70 % Cu, .73 % Pb, and 4.0 % Zn (Source: US Bureau of Mines). Two selective check samples collected from the mine during the current work program averaged .025 opt gold (Au), 241.6 opt Ag, .47 % Cu, 2.26 % Pb, and .51 % Zn.
The goal of HE-5 Resources is to rehabilitate the mine workings, and set up underground drill stations in order to both upgrade and expand the resource. Production is expected to commence as early as the fall of 2006.
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