HaqOr
Here's a start for the Mongolian properties. IPJ seems to be putting more emphasis on these properties of late.
Manlupo drilling continues; Mahakam exploration results
International Pursuit Corporation IPJ
Shares issued 23,689,172 May 1 close $3.40
Fri 2 May 97 News Release
Mr Stephen Dattels reports
Drilling in the Philippines on the company's Manlupo joint venture
property, 2.5km to the south of the core group of Hinoba-an claims is
progressing.
Six holes have now been completed, and one hole, No. 6, is presently in
progress. Five of the seven holes have successfully penetrated ore type
mineralization. A summary of the drill results from the five holes are
presented as follows:
Manlupo Diamond Drill Hole Results
D.D. From - To Length Cu
Hole No. (m) (m) (%)
-------- --------- ------ ----
MLP 01 39 - 285 246 0.48
incl. 114 - 198 84 0.55
MLP 01A 48 - 75 27 0.32
MLP 02 12 - 144 132 0.37
incl. 12 - 87 75 0.41
MLP 04 114 - 189 75 0.39
216 - 267 51 0.51
MLP 05 6 - 132 126 0.42
incl. 6 - 57 51 0.50
Hole No. 2, drilled 700m south of No. 1, and hole No. 5, drilled 300m north
of No. 1, appear to have established the present known southern and
northern ends of the mineralized zone. The 300m step out hole (No. 4) to
the west of hole No. 1 has established the western presently known limit,
although still open. Hole No. 1A drilled in the opposite direction from the
No. 1 hole set up indicates that the eastern contact of the zone is 50m to
the east of the No. 1. The drilling appears to confirm the Manlupo zone to
be at least 1,000m in length and 250m in width.
Drilling to date at Manlupo has broadly outlined an area which represents
only 10% to 15% of the total anomaly outlined by the company's geological
studies and gives management confidence that there is a good probability
that it will be able to double the size of the total tonnage between the
core group of claims, at Hinoba-an, and Manlupo to over 400 million tonnes
of copper mineralization by year end.
At present there are three drills operating at Manlupo, two of which are
starting new holes. One drill is testing a new zone on the core group of
claims east of the A1 zone to follow up drill hole A1-70 which intersected
values averaging 0.58% Cu over a length of 66m starting at a depth of 153m.
In Indonesia, recent exploration in the Mahakam COW has discovered an 8km
wide alteration zone identified as a porphyry copper-gold system. The
discovery was the result of a follow up of a BLEG (bulk leachable
extractable gold) sample yielding 16.8 ppb Au, and 0.83 ppb copper. This
was supported by float samples containing quartz/bornite mineralization
which assayed 0.1%, 0.7% and 0.9% copper respectively in the same drainage.
Two extensive mineralized outcrop zones returned values up to 0.08% copper
and 0.24 g/t gold. The company has started an airborne geophysical program
together with detailed mapping and sampling to assist in the evaluation of
drill targets.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
Regards, Rick |
