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Monday March 20, 3:12 pm Eastern Time
Company Press Release
Columbia River Resources Inc. -- Nigerian Rare Earth Project Update
VANCOUVER, British Columbia--(BUSINESS WIRE)--March 20, 2000-- Columbia River Resources Inc. (OTCBB:CRVV -
news) is pleased to announce an update from the ongoing evaluation of potential Rare Earth Projects currently under review in the Federal Republic of Nigeria.
Nigeria has a 30 year history of by product tantalum production and currently provides 35 tons of Ta205 concentrate annually to the world market from artisinal
production.
A total of 25 sites including 50 pegmatite occurrences have been visited and sampled by the Company's geological contractors, CME & Company during this first
phase regional reconnaissance program. Among the sites visited and evaluated there are several sites that host thick pegmatite bodies bearing essential tantalum,
lithium, cesium, Niobium, rubidium and tin mineralization.
Assay results reported below are from bulk grab samples (2-5kg) covering the pegmatite bodies representing all the distinct mineralogical zones have just been
received from Acme Labs of Vancouver, BC.
In his report, Dr. Serguei Soloviev, Cme & Company's leading Rare Earths geologist, states that the results are important from two aspects. Firstly the results
indicate that the targets for detailed exploration and comprehensive drilling have been identified. These targets exhibit high grades of rare metals comparable to those
found at other world class Ta-Li-Cs-Rb deposits. As with other analagous economic occurrences, there is the possibility of the occurrence of higher grade tantalum
mineralization at deeper levels within these highly evolved and differentiated pegmatites, providing strong support for further detailed exploration.
Secondly, the economic values of Li, Rb, Cs obtained from these pegmatites suggests that there is a large Ta-Li-CS-Rb metallogenic province in Nigeria similar to
other known high grade productive camps. Many of the pegmatite bodies explored have never previously been assayed for Ta, Li, Cs or Rb as Tin was the primary
mineral produced.
Significant results returned from grab sampling of pegmatitic veins during the regional evaluation program
Area Area Size Pegmatites
Km2 Quantity Strike (m) Width (m)
Angwan 5 6 >250 10-50
Mallan
Garaku 1 3 >20 >20
Nikke 5 5 >10 2-5
Tattara 10 8 >150 >10
Kassada 5 26 >100 1-6
Nawa 1 3 >400 2-5
Ajaga 5 2 100 2-3
Kontagora 1 3 500 10-12
Ta2O5 Li2O Rb2O Cs2O Sn
(g/t) (%) (%) (%) (g/t)
Angwan 391 2.18 0.55 0.40 2,100
Mallan
Garaku 212 2.78 1.50 0.39 1,230
Nikke 699 0.14 0.13 0.09 823
Tattara 920 2.78 0.91 0.22 2,069
Kassada 521 0.41 0.50 0.09 1,218
Nawa 742 0.07 0.27 0.03 2,983
Ajaga 608 0.01 0.15 0.02 1,938
Kontagora 154 0.01 0.06 0.01 3,186
The Company believes that the report indicates strong support for the discovery of a world class deposit in Nigeria and therefore intends to initiate the second phase
of the regional program during the second quarter.
ON BEHALF OF COLUMBIA RIVER RESOURCES INC.
Robert Ferguson, President
For further information visit our website at www.columbiariver1.com or contact us by telephone at (604) 688-1163
Columbia River Resources Inc. Suite 304 - 856 Homer Street Vancouver, British Columbia V6B 2W5 Tel: (604) 688-1163 Fax: (604) 688-6375 Website:
www.columbiariver1.com
Contact:
Columbia River Resources Inc.
columbiariver1.com
Tel.: 604/683-1163 |
