TO ALL:
The following news release I found about Abitibi--sounds great but I
for one don't understand exactly what it is saying. Is this the news
that should start the ball rolling on this stock???
Thanks
Regards
Stevie
Subject:
Abitibi Mining Corp.
Date:
Mon, 14 Apr 1997 15:46:47 -0700
From:
Linda Chu <lindachu@uniserve.com>
Please find below a copy of the Company's latest news release for your
perusal. If you have any questions, please feel free to contact our Investor
Relations Departement, Mr. Bill Basarab or Mr. Andrew Sloan, at (604)
685-2222. Thank you very much.
April 14, 1997 A B B #12-97
S D N #16-97
JOINT NEWS RELEASE
More gold intersections on Tannahill Project
Abitibi Mining Corp. and Sedex Mining Corp. are encouraged by assay results
from the current phase of drilling on the Tannahill Project. A total of ten
diamond drill holes have been completed on the Tannahill gold zone, of which
assay results are available for the first nine holes (T-97-30 to T-97- 38).
All holes were drilled between the 50 metre level and the 175 metre level,
along 300 metres of strike length, to test the down dip continuity of the
gold bearing structure.
All drill holes successfully intersected the gold bearing structure, further
indicating the excellent continuity of the zone. Better gold intersections
from this phase of drilling include 5.21 gm/t over 1.75 metres, 4.54 gm/t
over 2.00 metres, and 4.83 gm/t over 1.90 metres. Split core, fire assay
results for all nine completed holes are enclosed in the following Table 1:
Table 1: Tannahill Assay Results
DDH # From m To m Width m gm/t
T-97-30 106.00 108.00 2.00 2.76
T-97-31 121.00 124.00 3.00 2.02
T-97-32 71.00 72.75 1.75 5.21
T-97-33 197.50 199.50 2.00 4.54
T-97-34 211.10 213.00 1.90 4.83
T-97-35 187.50 188.50 1.00 0.20
T-97-36 208.50 209.45 0.95 0.17
T-97-37 179.00 181.00 2.00 1.89
T-97-38 197.00 198.00 1.00 0.41
Two drill holes remaining in this program are planned to test the structure
below the current limit of drilling. T-97-39 (awaiting assays) will test
the structure at the 250 metre level, and T-97-40 (currently being drilled),
will test the structure at the 350 metre level. The companies are
extremely encouraged by the continuity of the gold bearing structure. With
the high level of success in intersecting the structure at shallow levels,
deeper drilling will attempt to test the zone below the 300 metre level. It
is below this depth that the Holloway J.V. Mine and Holt McDermott Mine
develop into economic gold deposits. Based upon the excellent continuity of
the structure and significant gold assays to date ( 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), the zone holds excellent promise at depth.
On behalf of the Board of Directors,
ABITIBI MINING CORP.
SEDEX MINING CORP.
"Victor G. Coulthard, Director"
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the accuracy of this release. |
