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Gold/Mining/Energy : Abitibi Mining - V.ABB
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To: Essam Hamza who wrote (27)3/19/1997 9:18:00 PM
From: ANDY KOVACS   of 42
 
New Year's Eve diamond drilling begins

Abitibi Mining Corp ABB
Shares issued 16,869,693 Mar 19 close $0.55
Wed 19 Mar 97 News Release
Mr Victor Coulthard reports
Diamond drilling has begun on the company's 100% owned New Year's Eve
project, 35 kilometres north of Kirkland Lake, Ontario, in the Harker
Holloway gold camp. Current producers of the camp include Barrick Gold
Corp, Holt-McDermott mine and Battle Mountain Gold and Teddy Bear Valley
Holloway JV.
The New Year's Eve Project is underlain by volcanic and sedimentary rocks
forming part of the upper volcanic cycle of the Kinojevis group. Two
prospective gold bearing horizons, the Ghostmount horizon and Meridor
horizon strike across the 4.5km extent of the property. These horizons are
at the contacts of the volcanic and sedimentary rocks. Typical alteration
observed on the property along these horizons consists of pervasive albite
- carbonate - quartz alternation with varying percentages of sulphides and
quartz veining. This alteration assemblage is highly significant because it
is typical of the alteration associated with the major gold deposits of the
camp.
Recently completed induced polarization geophysical surveys have identified
east west trending chargeability anomalies, along these favourable gold
bearing horizons. Diamond drilling will focus on testing these priority
exploration targets.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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