Recent Press Release posed by Ventures Resource IR
Ventures Resource Confirms High Grade Mineralization
For Immediate Release
September 9, 1997
VSE Symbol ÿ VRS
U.S. 12G ÿ 82-4575
Morristown, New Jersey - Ventures Resource Corporation ("Ventures") announced today the confirmation of high grade surface mineralization on its 440,000 acre (176,000 ha) Wiseman property located approximately 200 miles (320 km) north of Fairbanks, Alaska along the Dalton highway and Trans-Alaskan pipeline. The Wiseman property includes the majority of the Chandalar Copper Belt and is comprised of 3 mid-stage projects (MSPs) and 20 early-stage prospects.
At the Luna MSP, a 30 ft (9 m) channel sample of high-grade volcanogenic massive sulfide mineralization assays 3.44% copper, 3.11% zinc, 0.1% cobalt, 1.25 ounces per ton (opt) (43.3 grams per tonne (g/t)) silver and 0.014 opt (0.5 g/t) gold. Individual rock samples contain greater than 3% copper, 18% zinc, 0.2% cobalt, 5.7 opt (195 g/t) silver and 0.5 opt (17 g/t) gold. These results compare well with values from the 1970's WGM Inc. program where a 20 ft (6 m) sample assays 5.3% copper, 0.5% zinc, 0.05% cobalt, 2.45 opt (84 g/t) silver and 0.03 opt (1.1 g/t) gold. The channel samples represent gross metal values between US$150 and US$170 per ton at current prices.
At the Venus MSP, a zone of outcropping mineralization was discovered near a 5,600 ft by 1,000 ft (1,700 m by 300 m) copper geochemical anomaly. A 20 ft (6 m) channel sample assays 3.22% copper, 0.081 opt (2.8 g/t) gold and 1.8 opt (61.8 g/t) silver. The highest sample assays greater than 9% copper, 0.29 opt (9.8 g/t) gold and 6.6 opt (226 g/t) silver.
The Company also reports that the U.S. Bureau of Land Management has completed its airborne geophysical survey of the Chandalar Copper Belt (including a large portion of the Wiseman property) and results will be available in the future.
Ventures' US$5.5 million Alaskan exploration program is being financed with cash on hand and is being planned and executed by WGM Inc., the Alaskan subsidiary of Watts, Griffis and McOuat.
Ventures has exclusive control over 3 million acres (1.2 million ha) of land in Alaska through an agreement with Doyon, Limited, the largest Alaskan Native Corporation. The Company's property holdings include 17 mid-stage exploration projects and 92 early-stage prospects, including land immediately adjacent to Alaska's two newest gold discoveries: Placer Dome's Donlin Creek and Sumitomo/Teck 's Pogo.
Ventures Resource Corporation is a North American exploration company dedicated to building shareholder value through the discovery of mineral deposits.
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