FYI:MARCH 24, 1997 Eagle Mountain 1997 Gold Exploration Commences
CALGARY, ALBERTA--Geodyne has finalized its participation
agreement with I.M.P.A.C.T. Minerals Inc. of Vancouver. The
agreement provides that Geodyne may earn a 50 percent interest in
the Eagle Mountain, Guyana gold project by funding $Cdn250,000 of
exploration expenses.
Following up the successful initial program conducted during 1996,
the second phase of exploration has commenced with the
mobilization of crews to the property. Plans call for deep soil
auguring over the one kilometer long gold-in-soil anomaly
identified during phase one exploration. Trenching of two gold
occurrences also discovered in 1996 will be completed during April
as will further prospecting of the property. The goal of this one
month program is to establish targets for diamond drilling. The
IMPACT/Geodyne interests lie approximately 45 kilometers southwest
of the Omai gold mine, which produced 93,000 ounces of gold during
the fourth quarter of 1996 and is operated by Cambior.
Guyana is favourably situated as an area which could yield
significant minerals discoveries. The Guiana Shield, which is
geologically similar to the Canadian Shield, extends through
Brazil, Venezuela, Suriname and Guyana. It is reasonable to
expect that mineralization in the Guiana Shield will be found to
be similar to that found in the Canadian Shield. |
