United Tex-Sol Clavos drilling results
United Tex-Sol Mines Inc UTX.A
Shares issued 18,032,896 Feb 2 close $0.25
Thu 3 Feb 2000 News Release
Mr. John Ricci reports
United Tex-Sol and Kinross Gold have received assay results from the drill
program at the Clavos Gold property located in Timmins, Ont.
Drill holes KC-99-144, 147, 148 and 150 were located to mainly test the
down plunge extension of the Sediment zone, as well as being used to test
the HW and FW zones. The balance of the holes mainly targeted the HW and FW
zones along a shallow, easterly plunge line.
Drill hole KC-99-153 intersected a new zone within the sediments (not part
of the Sediment zone) which comprises interbedded pyrite and argillite.
The following are the significant assays of the drilling completed in late
1999 which forms the final holes of 19,100 metres to fulfil the drilling
requirements pursuant to the Aur Resources agreement.
The significant assay results as compiled by Kinross Gold and United
Tex-Sol are as follows:
Hole From To Width Assay
m m m g/t
KC-99-142 681.76 684.07 2.31 2.26
701.84 702.74 0.90 8.36
740.41 742.36 1.95 1.75
KC-99-143 405.6 407.3 1.7 2.14
includes 405.6 406.0 0.4 7.99
449.8 451.6 1.8 0.96
KC-99-144 308.2 310.8 2.6 1.41
320.4 323.75 3.35 2.98
KC-99-145 469.96 472.46 2.5 2.66
527.98 529.14 1.16 4.36
579.94 581.42 1.48 3.23
582.85 585.02 2.17 2.29
KC-99-146 440.0 441.9 1.9 2.43
440.0 440.5 0.5 7.87
458.5 459.0 0.5 3.25
KC-99-148 281.5 283 1.5 6.92
includes 282 282.5 0.5 19.93
345.0 348.5 3.5 8.79
includes 346.1 347.8 1.7 13.27
383.6 387.1 3.5 3.22
includes 384.6 386.1 1.5 5.04
KC-99-149 447.5 449.6 2.1 6.38
includes 448.5 449.6 1.1 8.62
525.17 528.02 2.85 7.07
includes 527.17 527.37 1.216.52
528.02 529.92 1.9 1.94
includes 529.52 529.92 0.48.82 V.G.
KC-99-150 184.2 185.9 1.7 3.22
includes 184.7 185.1 0.4 12.57
244.7 246.7 2.0 4.88
includes 244.7 245.5 0.8 9.12
KC-99-151 419.45 425.3 5.85 1.22
428.3 430.1 1.8 1.23
KC-99-153 181.7 186.3 4.6 6.44
includes 181.7 183.2 1.5 14.7
427.66 428.91 1.25 2.6
514.0 515.5 1.5 2.93
515.5 517.25 1.75 1.75
* Assays reported are greater than one gram per tonne and were performed by
Swastika Labs Inc. using a one-assay-ton sample
Currently one drill rig is drilling in order to complete the final 1,000
metres of the current program and to fulfil the final requirements of the
Aur agreement at which time the company will have earned 100 per cent of
the Clavos property subject only to a net smelter royalty.
To date of this writing 19,600 metres of the 20,000 metres have been
drilled and the balance should be completed by Feb. 14, 2000.
On Jan. 25, 2000, the company repaid the outstanding convertible debenture,
which was issued December, 1998, in the amount of $500,000 plus outstanding
interest. The repayment ($544,828.76) which was satisfied by the conversion
of a portion into 993,182 common shares ($124,147.71) of the company and
the balance was repaid in cash ($420,681.05).
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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