News Release
Wedge and second hole drilled to measure the dip.
News Release Disclaimer
Ontex Announces Cherbourg Drill Results
Friday, October 8, 1999, 3:39 PM EDT
Toronto, Ontario
Issued Capital: 39,036,506 Common Shares
Ontex Resources Limited announces additional results of drilling
on the 29,000 acre Beardmore-Geraldton property, located 180 km
northeast of Thunder Bay, Ontario. Four holes were recently
completed on the Cherbourg property, the results of which are
presented in the appended table. Ontex can earn a 60% interest in
the Cherbourg leased claims from Metalore Resources Limited and
also owns a 10% net profits royalty interest through its 85.7%
controlled Cherbourg Gold Inc. subsidiary. Cherbourg adjoins the
west side of the Company's 100% owned Brookbank gold deposit.
Ontex drilled a wedge and extended hole C-99-03 to follow-up the
previously reported intersection of 44.62 feet, averaging 0.121
ounces of gold per ton, including 6.89 feet, grading 0.326 ounces
per ton and 6.56 feet, grading 0.356 ounces per ton. The wedge
intersected 7.42 feet, grading 0.102 ounces of gold per ton,
including 2.13 feet, grading 0.177 ounces per ton. Hole C-99-01
was also extended to establish the dip of the
volcanic-sedimentary contact past the Cherbourg Zone. Hole
B-99-11 intersected 6.56 feet, averaging 0.093 ounces of gold per
ton, including 3.28 feet, grading 0.119 ounces per ton in the
east strike extension of the Cherbourg Zone.
Drilling is continuing on the Beardmore-Geraldton property and
results will be disclosed as 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 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
Cherbourg Zone
--------------
Hole # B-99-11 Line 36 west, 52 feet south, Azimuth 344 degrees,
Dip -62 degrees
From to core true Gold core true Gold
width width gms/ width width ozs/
(m) (m) tonne (ft) (ft) ton
---------------------------------------------------------------
45.04 47.04 2.00 1.24 3.22 6.56 4.06 0.093
Including 45.04 46.04 1.00 0.62 4.11 3.28 2.03 0.119
229.70 230.70 1.00 0.62 3.41 3.28 2.03 0.099
----------------------------------------------------------------
Hole # C-99-01 Extension Line 27 west, 1.5 south, Azimuth 349 degrees,
Dip -55 degrees
---------------------------------------------------------------
378.94 379.84 0.90 - 1.175 2.66 - 0.034
---------------------------------------------------------------
Hole # C-99-03 Extension Line 27 west, 269 south, Azimuth 348
degrees, Dip -61 degrees
No significant values.
Hole # C-99-03 Wedge Line 27 west, 269 feet south, Azimuth 347.5
degrees, Dip -58.75 degrees
---------------------------------------------------------------
- -
298.05 300.31 2.26 - 3.50 7.42 - 0.102
Including 298.05 298.70 0.65 - 6.10 2.13 - 0.177
325.18 326.99 1.81 - 1.584 5.94 - 0.046
---------------------------------------------------------------
ONTEX RESOURCES LIMITED
(Mining)
ontexresources.com
ASE: ONT 0.75 0.01
Add this organization to my portfolio
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© 1999 BCE Emergis
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