JESSE ET AL -- NEWS RELEASE
CHINCHAGA GEOCHEMICAL RESULTS AND DRILL PROGRAM DECISION
November 12, 1999 -- Marum Resources Inc. reports on the status of the Marum
and International Tower Hill joint venture in the Chinchaga area of
northwestern Alberta.
Project Consultant Apex Geoscience Ltd. collected 44 stream silt samples
during September as part of a program to regionally define gold
mineralization in the northern part of the Chinchaga project area. The stream
sediment samples were analyzed at the Saskatchewan Research Council using
Fire Assay for gold and ICP for multi-element geochemistry. The samples
contain gold values up to 14 times normal background levels and show a broad
regional gold anomaly downstream from the gold-bearing target layer currently
being explored by the Marum/ International Tower Hill joint venture partners.
Background values for gold in stream silt samples in the northern Chinchaga
are about 2 ppb (parts per billion). In contrast, stream silt gold values
downstream of the mineralized layer ranged from 8 to 28 ppb, distinct
anomalies ranging from 4 to 14 times background values. As well, stream silt
samples contain anomalous concentrations of arsenic and antimony, both
powerful epithermal mineralization pathfinder elements. These results
substantiate that the mineralized volcaniclastic rock unit, which occurs at
about the 800m elevation, is the source of gold and hydrothermal pathfinder
anomalies within the drainage system and therefore reduces the requirement to
continue intense exploration outside of the broad fault zone where current
exploration is being conducted on the Marum / International Tower Hill joint
venture property.
During October, Project Consultant Apex Geoscience conducted a
helicopter-assisted outcrop sampling program in two outcrop areas. Following
a visual inspection of hand specimens of highly sulphidized, partially
weathered rock samples that were collected during the October program, in
connection with preliminary analysis of the recently received stream silt
geochemical data, Apex recommended that a drill program should be launched as
soon as possible. Marum has instructed Apex to apply for a drill permit for
the Marum/ International Tower Hill joint venture property. The drill permit
application will be for eight to ten holes at each of two spatially separate
areas where highly sulphidized and mineralized outcrops have been discovered.
The sites are approximately eight Km apart on the northern 18 Km section of
an extensive fault-related mineralized zone which has so far yielded
anomalous gold and metal values in a layered, hydrothermally altered,
volcaniclastic rock unit.
Rock samples collected during October are currently being analyzed for gold
and multi-element geochemistry to further develop a preliminary geological
model with respect to the nature of the mineralization and its economic
character and to further upgrade the sample database inventory preliminary to
the commencement of drilling operations.
The Chinchaga metals program has evolved rapidly and positively since the
first discovery of metallic mineralization during a February 1999 drill
program. That discovery suggested the probable existence of mineralizing
faults. These were quickly identified upon completion of a satellite image
structural analysis program. Field investigation of the faults resulted in
the immediate identification of mineralized outcrops that were found to be
enriched in gold. Corroborative work, including regional stream geochemistry,
has confirmed the location of the mineralization in two dimensions, along the
faults and at a specific stratigraphic layer. The geographic and volumetric
extent of the mineralized target layer is immense and will be tested by two
drill site areas located 8Km apart.
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