Here it is:
BRE-X MINERALS ANNOUNCES RESULTS OF FREEPORT-MCMORAN
CONFIRMATORY DRILLING
CALGARY, March 27 /CNW/ - BRE-X MINERALS LTD., (T-BXM, ME-BXM,
NASDAQ-BXMNF), a member of the BRE-X Minerals Group of Companies, released
today the results of the confirmatory drilling conducted to date by
Freeport-McMoRan Copper & Gold Inc. (FCX).
Based on information provided to Bre-X by FCX, FCX's confirmatory
drilling consisted of seven diamond drill holes. Four holes (BSSE-63A, 173A,
202A and 217A) were drilled parallel to holes drilled by Bre-X (BSSE-63, 173,
202 and 217), with collars approximately 1.5 metres from the Bre-X collar
holes. Two scissor holes (BSSE-63D and 202D) were drilled with inclinations
of -60 degrees northeast, in contrast to the -60 degree southwest inclination
of the Bre-X holes collared nearby. One hole (BSSE-173A) was drilled with an
inclination of -60 degrees south. All FCX holes were approximately 250 metres
deep. The attached chart sets out a summary of the above FCX and Bre-X
drilling results. All assays reported in the chart were conducted by
bottle-roll cyanide-extraction. FCX also performed standard fire-assays on
samples from certain of the core holes drilled by FCX and on samples from
certain core holes drilled by Bre-X. These fire-assays have indicated
insignificant amounts of gold in those samples. FCX also noticed visual
differences in gold particles contained in samples from core holes drilled by
FCX and core holes drilled by Bre-X.
FCX has indicated to Bre-X that its findings are preliminary and
incomplete and that FCX and will provide Bre-X with additional information as
FCX continues with its work.
As announced yesterday, Bre-X has instructed Strathcona Mineral Services
Limited, an independent Canadian mining industry consultant, to conduct an
audit of the drilling and sampling programs done by both Bre-X and FCX. This
audit will include the drilling of further core samples and will take
approximately four weeks.
Bre-X has expressed its concerns to the Toronto Stock Exchange regarding
the resumption of trading in Bre-X shares prior to the completion of the audit
by Strathcona.
ON BEHALF OF THE BOARD
DAVID G. WALSH
Chairman, President & Chief Executive Officer
Drill Hole Interval Intercept Bre-X Assays Freeport Assays
From To m ft g/t oz/t g/t oz/t
-------------------------------------------------------------------------
TWIN HOLES
Section SEZ 49 BSSE-63 BSSE-63A
BSSE-63 (63A)
-------------------------------------------------------------------------
0 11 11 36 1.8 0.05 0.01 0.00
-------------------------------------------------------------------------
25 191 166 545 4.39 0.13 0.01 0.00
-------------------------------------------------------------------------
211 253 42 138 3.71 0.11 0.01 0.00
-------------------------------------------------------------------------
Section SEZ 56.5 BSSE-173 BSSE-173A
BSSE-173 (173A)
-------------------------------------------------------------------------
5 145 140 459 1.33 0.04 0.02 0.00
-------------------------------------------------------------------------
Section SEZ 56.5
BSSE-202 (202A)
-------------------------------------------------------------------------
72 119 47 154 3.23 0.09 0.06 0.00
-------------------------------------------------------------------------
Note: Intervals not as previously reported because of incomplete Freeport
data.
-------------------------------------------------------------------------
Section SEZ 56.5 BSSE-217 BSSE-217A
BSSE-217 (217A)
-------------------------------------------------------------------------
226 250 24 79 5.68 0.17 0.01 0.00
-------------------------------------------------------------------------
Note: Intervals not as previously reported because of incomplete Freeport
data.
-------------------------------------------------------------------------
SCISSOR HOLES
Section SEZ 49 BSSE-(63D)
BSSE-(63D)
-------------------------------------------------------------------------
less than
2 250 248 814 N/A N/A 0.01 0.00
-------------------------------------------------------------------------
-60 reig(at)45 deg magnetic
-------------------------------------------------------------------------
Section SEZ 56.5 BSSE-(202D)
BSSE-(202D)
-------------------------------------------------------------------------
less than
0 250 250 820 N/A N/A 0.01 0.00
-------------------------------------------------------------------------
-60 reig(at)45 deg magnetic
-------------------------------------------------------------------------
Section SEZ 56.5 BSSE-(173E)
BSSE-(173E)
-------------------------------------------------------------------------
0 250 250 820 N/A N/A 0.02 0.00
-------------------------------------------------------------------------
-50 reig(at)180 deg magnetic
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