NEWS IS OUT..... Im not a geologist, but its nothing to write home about. NGC's stock price already reflects the flat results, I think.
At least FWR is divesified with other properties, but boy it sure would
be nice to finally strike something thats worth more mined, than grazed.
FOR FURTHER INFORMATION PLEASE CONTACT:
Nordic Gold Corporation
Francine Quevillon
President
(416) 869-0358
(416) 869-0778 (FAX)
The Alberta Stock Exchange has not approved or disapproved of the
information contained herein.
------------------------------------------------------------------------
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: NORDIC GOLD CORPORATION
ASE SYMBOL: NGC
APRIL 23, 1997
Nordic Gold Corporation - Magenta Project - Sinaloa,
Mexico
TORONTO, ONTARIO--NORDIC GOLD CORPORATION (NGC-ASE) reports the
completion of the initial drill program on the Magenta Project, a
50-50 joint venture with Freewest Resources Canada Inc. (FWR -
TSE & ME) of Montreal, Quebec, Canada.
A total of nine holes were drilled to test five separate
mineralized targets. One hole was drilled to test a gold-silver
geochemical anomaly. This hole gave results that mirror the low
values found in the soil anomaly.
Two holes were drilled to test an area of sediment hosted
copper-silver mineralization. The two holes failed to intersect
any economic copper mineralization within the quartzite horizon.
The remaining six holes were drilled to test #1, #2 and #3 copper,
cobalt, nickel precious metal zones.
The best results came from hole D.D.H.LP 97-9 located at 2+00
South, at 0+25 West which was drilled due East at minus 45
degrees. The hole intersected the southern extension of the #3
zone from 285 to 302.1 feet. Within this wider zone a higher
grade breccia zone from 292.6 to 296.6 feet was intersected. This
zone assayed .032 gm/ton Au, 68 gms/ton Ag, 1.47 percent Cu, .136
percent Co,and .283 percent Ni across 4.0 feet.
Complex faulting appears to have interrupted the down dip
extension of zones number 1 and 2. In order to understand the
nature of the faulting in zones 1 and 2 a program of drifting and
sampling has been recommended before a second drill program is
contemplated.
Further followup on the numerous airborne conductors and the other
mineralized zones will be the subject of the next phase of the
exploration program.
The company also intends to work on it's Canadian holdings along
the Matawin Gold Belt west of Thunder Bay, Ontario and in the Val
d'Or area of Quebec.
Francine Quevillon, President |
