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Gold/Mining/Energy : White Knight Resources WKR-VSE

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To: Wil Girney who wrote ()	10/9/1998 8:42:00 PM
From: Dev	Read Replies (1) of 39

White Knight Resources Ltd - Interim drilling report from Indian Ranch White Knight Resources Ltd WKR Shares issued 20,426,844 1998-10-08 close $0.54 Monday Oct 12 1998 Also Chapleau Resources Ltd (CHI) Mr. Patrick Cavanaugh reports Drilling has intersected carbonate rocks of the lower plate below the Roberts Mountain thrust on the Indian Ranch property, Eureka County, Nevada. The continuing drilling at Indian Ranch is being managed by White Knight and is financed by Chapleau Resources. Chapleau can earn a 50 per cent interest in the property through exploration expenditures and property payments. The Indian Ranch property is in the heart of the Battle Mountain-Eureka or Cortez trend in central Nevada. A total of more than 34 million ounces of gold has been discovered on the Cortez trend. The Pipeline/South Pipeline deposit, which is 36 miles to the northwest, will produce between 800,000 and 1,000,000 ounces of gold this year at a total cost of less than $100/ounce. Drill hole IR98-1 has been completed to a depth of 1,535 feet. This vertical hole was sited in a large zone of low grade gold mineralization as defined by nine holes which were drilled in 1997. The widespread gold mineralization discovered in 1997 is hosted in Ordovician age rocks of the Vinini formation which occur in the upper plate above the Roberts Mountain thrust fault. Drill hole IR98-1 intersected the targeted lower plate carbonates at a depth of 725 feet. The hole continued in the carbonates downward to 1,535 feet. Hydrothermal alteration observed in the hole consisted of intense silicification from about 685 feet to approximately 740 feet. The presence of a large and strong gold bearing hydrothermal system and the presence of favourable host rocks at a reasonable depth make this an attractive target. Drill hole IR98-1 is the first of a planned 12 hole program which will be completed this fall. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

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