This is why I am here,
100% owned by Standard. Damoti.
OCTOBER 28, 1996
High Grade Mineralization Confirmed at Damoti
Lake Project
RENO, NEVADA--Standard Mining Corp has completed the
underground drilling segment of its summer program at Damoti Lake,
north of Yellowknife in the Northwest Territories, Canada.
Twenty- three out of thirty-five underground drill holes
encountered mineralization in excess of 0.1 ounces of gold per
ton. The most notable drill hole, UGD96-31, encountered 28 feet
of 4.201 ounces of gold per ton. This interval, which far exceeds
a previous award winning intercept, included assays of 7.85, 12.10
and 27.22 ounces of gold per ton. In some drill holes, the
thicknesses as indicated in the following table represent the
additional extent of mineralization thickness beyond the walls of
a 10 ft. x 10 ft. drift which has already passed through the
mineralized zone. Based on these significant assay results Quest
is confident that the property, as explored to date, contains
greater than the 600,000 ounces of gold originally projected.
Final results will be published in a comprehensive report as soon
as further geologic evaluations and calculations are complete.
Ongoing exploration plans for Damoti Lake include a winter program
which is scheduled for early 1997.
XXXXXXXXXXXXXXXX
Don't forget, they spent 2 1/2 million to open this Damoti property up.
this might be old news, BUT its still there folks.
NO HYPE HERE< JUST THE FACTS >
Standard Corporation announced today preliminary gold assay results from its 2.5 million dollar underground
exploration program at the Damoti Lake project located in Northwest Territories, Canada. A decline has been
completed in the Horseshoe Pyrite zone for a total length of 172 meters and the South Drift on the 275 meter level is
complete. Work continues on the North Drift on the 275 meter level. Drifting on the 260 meter level is in progress.
The drifts are designed to test gold grades and continuity of mineralization along strike in gold zones previously
intersected by surface drilling. One meter samples have been collected and assayed from both walls and the face of
the drift. Assay results indicate that the South Drift has a mineralized zone approximately 40 meters long by 3 to 4
meters wide. The significant continuous assay results in this zone, reported in ounces per ton gold from north to
south, are as follows: /T/ 0.230 3.202 1.070 0.328 0.766 2.672 0.328 0.484 0.530 0.792 0.158 0.100 0.252 0.366 0.280
0.282 0.116 0.288 3.790 0.244 0.164 10.518 0.652 0.270 0.184 3.090 0.406 1.172 0.292 3.596 0.976 1.428 0.316
1.872 0.760 0.926 0.110 0.186 0.476 0.492 0.848 0.376 0.870 1.100 0.239 0.420 0.120 0.476 /T/ The same sampling
procedures are being used in the North Drift. Although complete assay results are still pending, the significant assay
results on a second mineralized zone, to date, are as follows: /T/ 0.188 2.241 6.374 1.498 0.294 0.802 0.844 0.476 /T/
Assay results are being verified by a second independent commercial analytical laboratory. Underground drilling is
underway to test down dip extensions of the two mineralized zones. |
