February 18, 1997 A B B #08-97
S D N #08-97
TANNAHILL PROJECT PROVES TO BE EXCITING NEW GOLD DISCOVERY
Abitibi Mining Corp. and Sedex Mining Corp. are extremely encouraged by the exploration potential of the Tannahill Project (Figure 1). Following the receipt of results from the recent drill program and a review of previous work, the companies are pleased to announce a major drill program to begin in early March 1997.
Drilling to date on the Tannahill Gold Zone has identified two parallel highly prospective gold bearing structures which have been successfully intersected in the majority of drill holes. The gold bearing structures (Lower Zone and Upper Zone), consist of pervasive quartz-carbonate-albite alteration with 5-10% disseminated pyrite with variable quartz veining. Gold is hosted in sections of the pervasive alteration zone which contain greater than 5% quartz veins.
The Lower Zone has returned the higher gold grades to date, including visible gold in four holes, and holds the greatest exploration potential. The Lower Zone shows excellent continuity along strike and consistency in grade. It has been successfully intersected along 300 metres of strike length at the 25 and 50 metre levels, and remains open in both directions. Grades and widths above the 50 metre level are generally 0.35 - 3.25 gm/t over widths ranging between 0.60 - 3.0 metres. At depth the zone widens significantly and the grades increase dramatically (Figure 2). Three holes below the 75 metre level along 100 metres of strike length have excellent widths with high gold grades ( 5.16 gm/t / 5.0 metres in T-96-9, 4.80 gm/t / 5.00 metres in T-96-11, and 7.02 gm/t / 3.7 metres in T-96-15). These three drill holes represent the majority of drilling at this depth, the zone remains open along strike and at depth (Figure 3).
Additional exploration potential includes the Upper Zone, which has steadily returned gold assays (e.g. 1.75 gm/t / 4.30 metres in T-96-8), and for the discovery of additional parallel structures. It is highly significant that the deposits of the camp (Barrick Gold Corporation Holt-McDermott Mine, Battle Mountain Gold and Teddy Bear Valley Holloway Joint Venture) develop into ore bodies below the 300 metre level. The Tannahill Gold Zone appears to be displaying this same camp characteristic, as the grades increase at depth. The next phase of drilling on the Tannahill Gold Zone will be exciting, as this newly discovered gold zone is tested at depths below the 150 metre level.
On behalf of the Board of Directors,
ABITIBI MINING CORP.
SEDEX MINING CORP.
_______________________________
Victor G. Coulthard
Director |
