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Gold/Mining/Energy : MILL CITY MIY-V
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To: maxed who wrote (99)3/17/1997 10:30:00 AM
From: Malcolm Stagg   of 707
 
Here it is:

Mill City Gold Mining Corp - News Release

Kimberlite pipe discovered at Yamba Lake

Mill City Gold Mining Corp
MIY
Shares issued 43368652
1997-03-14 close $0.36
Monday Mar 17 1997
News Release
See Tanqueray Resources Ltd (TQY) News Release
Ms Linda Falkenberg reports
The drill on the Yamba Lake property, Lac de Gras area, NWT has intersected a
kimberlite pipe (T-10). The Yamba Lake property is approximately 45km
northwest of the BHP/Dia Met diamond discovery which is scheduled for
production next year. Drilling is continuing to delineate the parameters of the T-10
pipe. The T-10 pipe is one of nine well defined targets in the area directly east of
the Torrie, Sputnik and Sue diamondiferous kimberlite pipes previously
discovered on the property in 1993. These targets were defined as a result of an
integrated work program which included an extensive bulk mineral till sampling
program combined with airborne geophysical surveys. The drill program on the
remaining eight targets is continuing.
Cypango Ventures, through a joint venture agreement, has the right to acquire a
51% interest on the Yamba Lake property from Mill City Gold Mining and
Tanqueray Resources by incurring $5,000,000 in exploration expenditures on the
property and the issuance of up to 300,000 shares by October 31 1999. The
interest may be increased to 70% by completing a feasibility study on the property
by December 31 2001.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

Malcolm
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