Major news today for these 3 companies
yet no discussion here on SI. The time has come!
Omni Resources Inc
ORI VSE
March 3, 1997
Extends Zone with Spectacular Hole at Goddell
VANCOUVER, March 3 /CNW/ - Omni Resources Inc. today announced the most
significant drill hole to date on its Goddell Shear property that yielded
174 feet of 0.20 oz gold per ton, including 106.8 feet of 0.299 oz gold and
48.2 feet of 0.594 oz gold. This hole is located more than 115 feet to the
east of any previously drilled holes and is also in an unexplored section of
the property.
The latest drill results further substantiate that the system is richer to
the east, and, as a result, the decline will be extended a further 350 feet
east to allow for additional drilling.
The up-to-date results from the latest round of drilling are as follows:
Drill Hole No. Width Gold
------------------------------------------------------------------------
Feet Meters oz./ton grams/ton
------------------------------------------------------------------------
97 - 39 43.3 13.2 0.123 4.22
including 12.9 3.9 0.228 7.82
------------------------------------------------------------------------
97 - 40 37.3 11.4 0.123 4.22
including 12.0 3.7 0.293 10.04
------------------------------------------------------------------------
97 - 41 174.0 53.0 0.200 6.86
including 106.8 32.6 0.299 10.25
and 48.0 14.6 0.594 20.36
------------------------------------------------------------------------
The gold mineralization is associated with arseno pyrite, stibnite and
pyrite and contains a trace amount of silver. The system is open in all
directions.
Trumpeter Yukon Gold Inc. can earn a 50 % interest in Omni's properties upon
completion of a $7.5 million financing, more than half of which has been
funded to date. The Goddell property is under option from Arkona Resources
Inc. Omni may earn up to 70% of the Goddell property by spending $4,000,000
over four years.
Omni Resources is an exploration and development Company with a 50,000 acre
landholding in the Mt. Skukum area 85 kilometers south of Whitehorse in the
Yukon. There is a 300 ton per day gold cyanide mill on site, expandable to
500 tons per day, centrally located approximately eight kilometers from the
Skukum Creek deposit and four kilometers from the Goddell Shear. Shares of
Omni trade on the Vancouver Stock Exchange, under the symbol ORI.
For further information: Jon Bergvinson, President; Arne Carlson, Corporate
Communications, (604) 688-6477
This release processed by Canstock at 8:27:31 Pacific Time
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The Canadian Stock Market Reporter has not reviewed the information
contained in this document and assumes no responsibility for its accuracy or
completeness.
c1997 Canadian Stock Market Reporter |
