NEWS RELEASE
Kenrich Mining Corporation (KRC-V)
Suite 910 - 510 Burrard Street, Vancouver, British Columbia, CANADA V6C 3A8
Tel: 604-682-0557 Toll Free: 1-888-805-3940 Fax: 604-688-3346
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News Release August 6, 1998 - Results from Corey Property
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Kenrich Mining Corporation ("Kenrich") is pleased to announce preliminary results from surface work on the Kenrich Block of its wholly owned Corey Property. Kenrich has been active doing geological mapping, surface sampling, and trenching. The surface work is directed towards developing diamond drill targets over areas of anomalous soil geochemistry on the HSOV and NICA 1 areas.
On the HSOV area, geological mapping and whole-rock geochemistry have produced more evidence that the same sequence of rocks that hosts the Eskay Creek massive sulphide gold-silver deposit is found at HSOV. The soil geochemical anomaly located in 1997 lies within the favourable host black shale unit. Preliminary in-fill soil sampling confirmed the continuity of anomalous gold, silver, arsenic, copper, lead, antimony, zinc and mercury within the 1997 soil anomaly. Soil samples returned values up to 35 ppb gold, 13 ppm silver, 230 ppm arsenic, 270 ppm copper, 140 ppm lead, 25 ppm antimony, 964 ppm zinc and 1250 ppb mercury. This anomalous metal assemblage is similar to the content of the polymetallic ore at Eskay Creek. Rock samples from the few outcrops found in this anomalous area were taken and sent for analysis. Of 100 samples from which assays have been received, five samples were significantly anomalous in the pathfinder base metals and slightly anomalous in gold. The best sample, #98451, in sheared black shales ran 15 ppb gold, 4.4 ppm silver, 2,225 ppm arsenic, 422 ppm lead, 35 ppm antimony and 1,427 ppm zinc. Further work will consist of trenching and drilling due to the lack of rock exposure.
On the NICA 1 claim, soil sampling has outlined a large north south trending gold-arsenic-copper anomaly. The area of this anomaly has limited rock outcrops and the source of the anomaly has not been located. The outcrops that were observed were mainly grey and black shales. The soil geochemical anomalies contained values in the order of 100 ppb gold, 110 ppm arsenic ppm and 200-400 ppm copper. The chemical signature of the soils is analogous to Placer Dome's Kerr copper-gold porphyry deposit approximately 1 km to the east. The Kerr Deposit is an north south trending shear zone which has documented reserves of 66 MT containing 0.86% copper and 0.01 ounce/tonne gold. With the limited rock exposure, the NICA 1 targetw ovgr the soil anomaly will be further defined by an induced polarisation (IP) geophysical survey followed by trenching and diamond drilling.
The diamond drilling program being conducted by Prime Resources Group Inc., on the PRU Block of Kenrich's Corey Property began on July 30th 1998. Results of the drilling will be released when assays and logs have been received and compiled.
On Behalf of the Board Of Directors
Kenrich Mining Corporation
Kenneth W. Trociuk
President/CEO
Kenrich Mining Corporation trades on the Vancouver Stock Exchange as KRC USA Trading Symbol KRMGF
20-F Blue Sky USA Trading Approved. Standard & Poor's Full Manual Listing, SEC 12g3-2(b) - 82-2809
For Further Information Contact Investor Relations: Marie Antoinette Shields
Direct Line: 604-682-2428
Direct Fax: 604-682-3615
Website: www.kenrichmining.com E-mail: kenrich2@uniserve.com |
