News Release Disclaimer
Ontex Announces Brookbank Drill Results
Monday, November 22, 1999, 7:30 AM EST
Toronto, Ontario
Ontex Resources Limited is pleased to announce additional results
of drilling from the 29,000 acre, 655 claim Beardmore-Geraldton
property, located 180 km northeast of Thunder Bay, Ontario. The
current results compiled in the attached table are from the 18
Brookbank leased claims, owned 100% by Ontex subject to a 1% net
smelter return royalty to Metalore Resources Limited. They
contain the Brookbank Gold Deposit, which previously was
calculated to contain an inferred mineral resource of 1,381,980
tons, grading 0.263 ounces of gold per ton, 0.233 ounces per ton
with assays cut to 1 ounce. The estimate was prepared by Placer
Dome in 1990 and the resource remains open along strike and at
depth. Ontex can also earn 60 to 70% interests from Metalore in
637 adjoining leased and staked claims by spending up to $ 1.5
million in exploration over 4 years.
A total of 6 holes were recently completed at Brookbank, 3 of
which were drilled 180 to 215 metres (600 to 700 feet) east of
the deposit in a new zone previously identified in hole B-99-4.
The Company is pleased to report that hole B-99-15 intersected
3.28 feet, grading 0.203 ounces of gold per ton and 0.105 ounces
per ton within a deeper 14.04 foot interval. Higher, 0.154 and
0.138 ounce per ton grades were achieved over 3.28 foot widths
included within the larger interval. Similar grades were
intersected in nearby holes -14 and -16, indicating continuity
between 7 holes completed by Ontex in the zone this year.
Further drilling is planned to test the down-plunge extension of
the zone and the potential for continuity with the main deposit.
Holes B-99-12, -13 and 13W1 were drilled on the west side of
Brookbank and extend the deposit 30 metres (100 feet) along
strike to Line 22 W. Intersections include 13.12 feet, grading
0.10 ounces of gold per ton in Hole -13, including 3.28 feet,
grading 0.131 ounces per ton.
Ontex will resume drilling on the Beardmore-Geraldton property
after a 2 week break to review the results achieved to date.
Further results will be released as they are completed on each
zone.
Issued Capital: 39,036,506 Common Shares
ONTEX RESOURCES LIMITED
[signed]
ROBIN GOAD, PRESIDENT
For further information, please contact Sam Fuda in Toronto
(Tel. (416) 360-4031, Fax. (416) 360-4034) or,
Robin Goad or Gary Conn in London
(Tel. (519) 455-8127, Fax. (519) 455-1846),
by Email: info@ontex resources.com or, visit our website at:
www.ontexresources.com.
BROOKBANK DRILL HOLE INTERSECTIONS
----------------------------------
from to core width Gold core width true width Gold
(m) gms/tonne (ft) (ft) ozs/ton
-----------------------------------------------------------------
Hole # B-99-12 Line 22 west, 126.4 metres south,
Azimuth 345*, Dip -45*
119.00 121.14 2.14 1.92 7.02 5.61 0.056
Including
120.00 120.50 0.50 3.13 1.64 1.31 0.091
122.64 123.64 1.00 1.89 3.28 2.62 0.055
128.86 129.86 1.00 1.78 3.28 2.62 0.052
138.79 139.79 1.00 2.64 3.28 2.62 0.077
Hole # B-99-13 Line 22 west, 208.5 metres south,
Azimuth 343*, Dip -65*
300.00 304.00 4.00 3.44 13.12 8.01 0.100
Including
301.00 302.00 1.00 4.50 3.28 2.00 0.131
309.00 309.69 0.69 1.72 2.26 1.38 0.050
315.79 320.59 4.80 3.01 15.75 9.61 0.087
Including
316.59 317.59 1.00 4.08 3.28 2.00 0.118
Hole # B-99-13 W1 Line 22 west, 208.5 metres south,
Azimuth 351*, Dip -61*
313.62 317.50 3.88 3.24 12.73 9.03 0.094
Including
313.62 316.00 2.38 4.69 7.81 5.54 0.136
Including
313.62 315.27 1.65 5.94 5.41 3.84 0.172
Hole # B-99-14 Line 3 west, 90 metres south,
Azimuth 344*, Dip -48*
91.11 92.00 0.89 3.63 2.92 2.36 0.105
117.20 118.12 0.92 3.64 3.02 2.49 0.106
Hole # B-99-15 Line 3 west, 140 metres south,
Azimuth 345*, Dip -60*
192.00 192.68 0.68 2.52 2.23 1.48 0.073
199.00 200.00 1.00 6.99 3.28 2.20 0.203
210.88 224.00 13.12 2.28 43.04 28.87 0.066
Including
219.72 224.00 4.28 3.61 14.04 9.45 0.105
Including
221.50 222.50 1.00 5.30 3.28 2.23 0.154
Including
223.00 224.00 1.00 4.77 3.28 2.20 0.138
Hole # B-99-16 Line 4 west, 90 metres south,
Azimuth 343*, Dip -60*
113.25 115.00 1.75 3.15 5.74 4.07 0.091
113.25 114.22 0.97 4.14 3.18 2.26 0.120
129.00 130.00 1.00 2.11 3.28 2.33 0.061
138.00 143.00 5.00 2.20 16.40 11.65 0.064
Including
140.00 141.00 1.00 5.76 3.28 2.33 0.167
147.00 154.42 7.52 1.22 24.67 17.29 0.036
Including
147.00 148.00 1.00 3.11 3.28 2.33 0.090
* equals degrees
ONTEX RESOURCES LIMITED
(Mining)
ontexresources.com
ASE: ONT 0.550 N/A
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© 1999 BCE Emergis
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