ONTEX RESOURCES ANNOUNCES DRILL RESULTS FROM THE BROOKBANK GOLD DEPOSIT AND THE CHERBOURG ZONE
Wednesday, June 30, 1999, 10:39 AM EDT
Ontex Resources Limited is pleased to announce results of the
first 6 holes from Phase 1 drilling on its 29,000 acre
Beardmore-Geraldton property, 180 km northeast of Thunder Bay,
Ontario. The property includes the Brookbank Gold Deposit, which
contains an inferred mineral resource of 1,381,980 tons, grading
0.263 ounces of gold per ton. The resource was calculated by
Placer-Dome in 1990 and remains open along strike and at depth.
Two holes were drilled to test the west strike extension of
Brookbank at vertical depths of 1400 and 450 feet below surface
(426.7 and 137.2m, respectively). The deeper hole, B-99-02
intersected 11.45 feet, grading 0.227 ounces of gold per ton
(7.83 g/t over 3.49m). The intersection includes 2.62 feet,
grading 0.378 ounces of gold per ton (13.03 g/t over 0.80m). The
shallower hole, B-99-01 intersected 10.4 feet, grading 0.102
ounces of gold per ton (3.53 g/t over 3.17m) with individual
assays up to 0.199 ounces of gold per ton over 1.9 feet. They
occur within a broader 70.24 foot intersection, grading 0.038
ounces of gold per ton (2.41 g/t over 21.41m) and indicates the
potential for greater widths in this area of the deposit. The
Company is particularly pleased to report that both holes have
extended the Brookbank deposit to the west where it remains open
for further expansion.
Four holes were drilled to test the Cherbourg Zone at depth along
the Golden Highway, 1.1 km west of Brookbank. Hole C-99-03
intersected a broad area of mineralization in the footwall of the
Cherbourg Zone at a vertical depth of 1048 feet (319.5 m) and
averaged 0.121 ounces of gold per ton over 44.62 feet (4.19 g/t
over 13.60m). Higher grades were intersected within this
interval, including 6.89 feet, grading 0.326 ounces of gold per
ton (11.24 g/t over 2.10m), which includes 2.79 feet, grading
0.737 ounces of gold per ton (25.41 g/t over 0.85m). Another
16.4 foot section, graded 0.179 ounces of gold per ton (6.17 g/t
over 5m), including 3.28 feet, grading 0.562 ounces of gold per
ton (19.37 g/t over 0.54m). There are an insufficient number of
holes to determine the geometry of this mineralization. Hole
C-99-02 intersected 6.76 feet, grading 0.208 ounces of gold per
ton (7.19 g/t over 2.06m), including 2.92 feet, grading 0.422
ounces of gold per ton (14.54 g/t over 0.89m). Lower grades were
intersected in holes C-99-01 and -04.
Ontex is continuing to drill on the east side of the Brookbank
deposit, and in the areas of the Irwin, M-7 and Foxear Zones.
Further results will be released as Phase 1 drilling is completed
on each zone. Additional regional airborne geophysical surveys
and geological mapping are expected to commence on the entire
property shortly.
The Beardmore-Geraldton property is comprised of 655 leased and
staked claims in 5 townships, representing 35 km of the favorable
strike between the Beardmore and Geraldton gold camps. Ontex
owns a 100% interest in the 18 Brookbank leased claims, subject
to a 1% net smelter return royalty to Metalore Resources Limited.
Ontex can earn a 60% interest in 228 leased and staked claims in
Irwin and Sandra Townships, and a 70% interest in 409 staked
claims in Walters, Leduc and Legault Townships from Metalore by
expending $ 1.5 million over 4 years.
Ontex Resources Limited
[signed]
Robin Goad, President.
Further information can be obtained from Ontex Resources Limited
in London (contact Robin Goad or Gary Conn at: Tel. (519)
858-8188); and in Toronto (contact Sam Fuda or Ross McGroarty at:
Tel. (416) 360-4031); by Email. info@ontexresources.com; or visit
our website at www.ontexresources.com.
Neither the Alberta Stock Exchange nor any securities Regulatory
Authority has approved or disapproved of the contents of this
news release.
ONTEX DRILL HOLE INTERSECTIONS
Brookbank Zone
Hole # B-99-01 Line 20 west, 356 south, Azimuth 345degrees,
Dip -65degrees
from To core true Gold Silver core true Gold
width width gms/ gms/ width width ozs/
(m) (m) tonne tonne (ft) (ft) ton
168.00 189.41 21.41 12.90 1.30 1.81 70.24 42.32 0.038
Including
170.93 174.10 3.17 1.90 3.53 3.52 10.40 6.23 0.102
Including
171.93 172.51 0.58 0.53 6.79 4.40 1.90 1.74 0.197
Hole # B-99-02 Line 19 west, 1078 south, Azimuth 341degrees,
Dip -63degrees
507.05 510.54 3.49 1.92 7.83 3.24 11.45 6.30 0.227
Including
507.05 508.90 1.85 0.88 8.59 3.93 6.07 2.89 0.249
Including
509.74 510.54 0.80 0.54 13.03 4.40 2.62 1.77 0.378
Cherbourg Zone
Hole # C-99-01 Line 27 west, 1.5 south, Azimuth 349degrees,
Dip -55degrees
235.03 238.14 3.11 1.80 0.92 3.19 10.20 5.91 0.027
Including
235.33 236.78 1.45 0.84 1.42 3.72 4.76 2.76 0.041
Including
235.33 236.00 0.67 0.39 2.02 3.40 2.20 1.28 0.059
Hole # C-99-02 Line 24+92.5 west, 52 south, Azimuth 339degrees,
Dip -58degrees
18.35 18.74 0.39 0.22 1.47 4.00 1.28 0.72 0.043
229.99 232.05 2.06 1.22 7.19 6.19 6.76 4.00 0.208
Including
230.49 232.05 1.56 0.93 9.35 8.11 5.12 3.05 0.271
Including
230.49 231.38 0.89 0.53 14.54 12.40 2.92 1.74 0.422
Hole # C-99-03 Line 27 west, 269 south, Azimuth 348degrees, Dip
-61degrees
297.65 301.88 4.23 2.23 1.30 3.25 13.88 7.32 0.038
Including
298.15 299.89 1.74 0.92 2.34 4.09 5.71 3.02 0.068
Including
370.90 384.50 13.60 7.29 4.19 2.29 44.62 - 0.121
Including
370.90 373.00 2.10 1.12 11.24 6.52 6.89 - 0.326
Including
371.65 372.50 0.85 0.46 25.41 15.00 2.79 - 0.737
Including
379.50 384.50 5.00 2.68 6.17 3.04 16.40 - 0.179
Including
379.50 382.50 3.00 1.61 9.07 4.53 9.84 - 0.263
Including
380.50 382.50 2.00 1.07 12.28 4.90 6.56 - 0.356
Including
381.50 382.50 1.00 0.54 19.37 7.80 3.28 - 0.562
Hole # C-99-04 Line 21 west, 162 north, Azimuth 345degrees, Dip
-54.5degrees
153.31 160.25 0.94 0.58 1.03 18.80 3.08 1.90 0.030
195.76 196.50 0.74 0.45 2.41 1.80 2.43 1.48 0.070
Listing: ASE, Symbol "ONT"
Issued Capital: 39,036,506 Common Shares
ONTEX RESOURCES LIMITED
(Mining)
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© 1999 BCE Emergis
sorry I double posted but that news release was to hard to read going back and forth.
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