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Ontex Announces Contract for Airborne Geophysical Survey
Tuesday, August 31, 1999, 4:31 PM EDT
Toronto, Ontario
Ontex Resources Limited is pleased to announce that it has
entered into a contract with Geoterrex-Dighem to fly a helicopter
airborne geophysical survey over the 661 claim
Beardmore-Geraldton property, located 180km northeast of Thunder
Bay, Ontario. The survey is being flown to collect detailed
magnetic, radiometric and very low frequency electromagnetic data
in order to locate favorable structures and host rocks as well as
centres of hydrothermal potassium alteration similar to those
associated with the Company's Brookbank Gold Deposit. Ontex owns
a 100% interest in the Brookbank leased claims and has options to
earn 60 to 70% interests from Metalore Resources Limited in 637
additional claims along the 35km of favorable strike between the
Beardmore and Geraldton gold camps. Only a limited amount of
work has been carried out on most of these claims and the
airborne survey is being flown to identify targets for follow-up
exploration.
Ontex is pleased to report 3 additional holes from Phase 1
drilling on the Brookbank and Foxear Zones. The results are
presented in the appended table. Drilling recently resumed on
the Beardmore-Geraldton property with 5 holes completed and 2
holes deepened for which assays remain pending. Results will be
disclosed when they become available.
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.
Issued Capital: 39,036,506 Common Shares
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-99-06, Line 9 West, 656 feet South,
Azimuth 342x, Dip -67x
From To Core True Gold Core True Gold
length width length width
(m) (m) (g/tonne) (ft) (ft) (oz/ton)
-------------------------------------------------------------
184.92 185.74 0.82 0.47 9.00 2.69 1.54 0.261
221.64 221.95 0.31 0.18 1.15 1.02 0.59 0.033
Foxear Zone
Hole # F-99-01, Line 28 East, 30 feet North,
Azimuth 163x, Dip -57x
From To Core True Gold Core True Gold
length width length width
(m) (m) (g/tonne) (ft) (ft) (oz/ton)
-------------------------------------------------------------
247.04 252.02 4.98 3.34 2.08 16.34 10.95 0.060
Including
247.04 247.88 0.84 0.56 10.11 2.76 1.84 0.293
263.00 263.25 0.25 0.17 1.36 0.82 0.56 0.039
Hole # F-99-02, Line 40+50 East, 797 feet North,
Azimuth 162x, Dip -59x
From To Core True Gold Core True Gold
length width length width
(m) (m) (g/tonne) (ft) (ft) (oz/ton)
------------------------------------------------------------
468.94 476.85 7.91 5.3 2.90 25.95 17.39 0.084
Including
468.94 475.85 6.91 4.89 3.11 22.67 16.04 0.090
Including
468.94 471.45 2.51 1.77 4.12 8.23 5.81 0.119
Including
470.35 471.45 1.10 0.78 5.31 3.61 2.56 0.154
ONTEX RESOURCES LIMITED
(Mining)
ontexresources.com
ASE: ONT 0.750 N/A
Add this organization to my portfolio
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© 1999 BCE Emergis
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