With the higher gold price, somebody is sure to want their fingers,
IN THIS PIE, I SURE WOULD>>>>>>>>>>>>>>
XXXXXXXXXXXXXXXXXXXXXXX
Company Press Release
Standard Mining Exploration Update Reveals New
Gold Soil Anomaly
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 23, 1999-- Standard
Mining Corporation (TSE:SDM. - news) is pleased to announce that soil sampling at
Standard's 150 square kilometre Zopilote gold property in Honduras has revealed an extensive new gold soil anomaly.
The new anomaly occurs mainly along the Calpules lineament and is larger than the existing gold anomaly over the known
Zopilote gold deposit that currently has a combined gold resource of 446,000 ounces of gold. Since January of this year,
additional reconnaissance soil samples have been collected on 100 metre spacing over 3 kilometres. Assay results show
excellent correlation of anomalous gold values along liner trends. The Zopilote property lies within the NE-trending ''Motagua
Gold Trend'' which encompasses Geomaque's nearby Vueltas del Rio gold deposit (under development), Greenstone's new
San Andres gold mine, and Glamis Gold's discovery at Cerro Blanco in Guatemala. This gold trend hosts significant gold
resources and reserves. The trend is over 300 kilometres in length and is only partially explored.
CALPULES SOIL ANOMOLY - Reconnaissance soil sampling has identified a continuous gold anomaly (greater than
100ppb Au) along the east-west Calpules topographic lineament. The anomaly is 3,000 metres in length, up to 500 metres in
width, and remains open to the east along the trace of the lineament. Soil values are commonly 200 to 700+ ppb Au with a high
value to date of 1.62 gpt Au. Local soils are thin (15 to 25 cm) and rest directly on shattered quartz-feldspar-muscovite gneiss
of the Cacaguapa Schist (Paleozoic basement). The conspicuous Calpules lineament projects across the main access road on
the property where 105 metres of anomalous bedrock (0.3 gpt Au) are exposed. The Calpules lineament represents a large
new target and appears extremely prospective where it locally intersects the NE-trending Limones lineament.
ZOPILOTE SOIL ANOMALY - Continued soil sampling in the vicinity of the Zopilote gold resource (446,000 oz. Au) has
extended the NE-trending Zopilote gold soil anomaly by an additional 500 metres to an overall length of 2,200 metres with a
width of 150 to 400 metres. Ore-grade gold mineralization is present in numerous drill holes and surface trenches. Drilling has
tested less than 30% of the Zopilote soil anomaly.
As well, soil sampling at Cerro Caliche has revealed a linear gold soil anomaly that extends for 800 metres along the suspected
contact between gneissic basement rocks and a local limestone unit. This gold anomaly represents a new geologic target at
Zopilote.
These new anomalies represent a significant opportunity for Standard to increase its resource base in Honduras. A drill
program has been recommended to test these areas.
Standard Mining Corporation presently has interests in gold, base metal, and diamond properties in the U.S., Canada, and
Central America and is seeking joint venture partners. For further information, contact Mr. Paul Saxton, President and CEO of
Standard Mining Corporation Phone (604)-689-0489 or Fax (604) 681-5910.
Well, what do ya know, we finally closed at .26. WOW
|
