(COMTEX) B: MEDINAH MINING INC - Alto de Lipangue and Las Dos Marias
B: MEDINAH MINING INC - Alto de Lipangue and Las Dos Marias Drilling Results
New York, New York, May. 17, 2000 (Market News Publishing via COMTEX) -- The
Board of Directors of Medinah Mining, Inc. are pleased to report on diamond
drill hole number 12 at the Alto de Lipangue gold-copper breccia discovery and
the Phase II Diamond Drill program at the Las DOS Marias project near Santiago,
Chile.
On Medinah's Alto de Lipangue gold-copper breccia discovery, DDH L.00-12 was
completed and produced very interesting geological information. The first 11
drill holes outlined a gold-copper breccia deposit of considerable potential
with the deposit open in two directions and to depth. Drill hole L.00-12, was
collared 50 meters east of DDH L.00-08 and drilled at an angle of -70 degrees on
an azimuth of 360 degrees or due north to a total depth of 275 meters. The hole
was designed to intersect the mineralized zone to the east and deeper than the
previous drill holes. Significant gold, silver and copper assays were returned.
Of greater significance was the intersection of zones of alteration within the
foot wall granodiorite indicating proximity to the high heat and fluid flow from
the mineralizing body or in this case, the porphyry.
The assay results from DDH L.00-12 are consistent with breccia assays from other
drill holes, with significant intervals in the hanging wall portion of the
breccia pipe. The interval from 158 to 168 meters returned weighted assays of
2.92 g/t gold, 15.89 g/t silver and .239% copper over 10 meters with the
interval from 170 to 185 meters returning weighted assays of 1.82 g/t gold,
16.81 g/t silver and .758% copper over 15 meters. The interval from 243 to 252
meters returned weighted assays of 1.16 g/t gold, 4.59 g/t silver and 0.274%
copper over 10 meters, showing mineralization towards the footwall of the
breccia pipe. The total interval from 140 to 270 meters, encompassing the
breccia and wall rocks, returned a weighted average of 0.64g/t gold, 4.15 g/t
silver and 0.151% copper over the 130 meters.
Zones of high mineralization within the 130 meters include 7.50 g/t gold, 39.30
g/t silver and 0.561% copper from 158 to 160 meters in the altered granodiorite
and 7.90 g/t gold, 49.00 g/t silver and 0.634% copper from 164 to 165 meters in
the breccia proper.
Further drilling has been recommended and will commence shortly. The Las Dos
Marias gold prospect is located on the western edge of Medinah Mining's Alto De
Lipangue discovery and hosts several old working sites from Inca and Spanish
Conquistador days. The gold values from material tested in mine tailings suggest
that significant ore grades were mined. The Phase I drill program tested
geophysical targets in an effort to find extensions of the old mine workings or
new undiscovered high grade systems. A series of shear zone hosted
quartz-chalcopyrite-arsenopyrite veins were intersected in both Phase I drill
holes and returned outstanding values in gold, as high as 91.98 g/t gold per
tonne across 2 meters.
The Phase II diamond drill program, under the supervision of Gordon House,
P.Geo., tested the full width of the shear zone. A total of 695.55 meters were
drilled in three holes spaced 100 meters apart, at an angle of -65 degrees on an
azimuth of 075 degrees or slightly north of due east. The drill platforms were
located on a new drilling road on the western slope of the valley above the old
mine workings. This program successfully tested the full width of the shear
zone, but did not encounter assay values similar to those seen in Phase I. The
shear zone is strongly silicified and pyritised with abundant quartz carbonate
veining.
The results of the drill program and extensive geological work show that the
shear zone is broken by a series of east-west trending quartz veins carrying
significant values in gold. The most likely explanation for the high grade
values returned in the Phase I program is that the holes were located close to
where east-west veins intersected the footwall of the shear zone, with the gold
values being returned from the veins and not the shear itself.
These high-grade gold values require further investigation and a program of
additional diamond drilling will be initiated.
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TEL: (604) 687-1414 RGM Communications
TEL: (604) 687-1414 RGM Communication
TOLL FREE: 1 (800) 547-9375
1 (800) 774-5133
INET : medinahmining.com
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