Hello Folks:
Here is a press release from EAL/PALL/International Larder that gives much more detail about the EAL
exploration project in Denton Twp.
Midas
Prospectors Alliance Corporation - Encouraging Results From Denton
Explorartion Property
Toronto, Ontario --
Prospectors Alliance Corporation (PALL - CDN Toronto, 21,116,121
outstanding shares) has previously announced a reorganisation
involving the combining of their businesses and assets with those
of International Larder Minerals Inc. (LRDR - CDN)("Larder") and
three "private" companies, Explorers Alliance Corporation,
1338756 Ontario Inc. and 1232448 Ontario Inc. into one
corporation through a series of share acquisitions and
amalgamations. The approval of the transaction will be considered
by the shareholders of PALL, Larder and Explorers at meetings now
scheduled for May 26, 2000. PALL has been advised that Explorers
has made the following Press Release today:
Explorers Alliance Corporation, a private Ontario Company, wishes
to announce the results of recent exploration in Denton Township.
The property is held under option from Band-Ore Resources Ltd.
(BAN.T) under which Explorers may earn a 70% interest in the
property, which located approximately 35km southwest of Timmins,
Ontario.
The rock units underlying the property had previously been
identified as Tisdale assemblage, the host rocks of the gold
deposits in the Timmins area. Previous work on the property had
uncovered by trenching, a strongly sheared, carbonate, sericite,
chlorite altered sequence of mafic volcanics. Within this
sequence sulfide rich sections and semi-massive veins had
returned high gold values. In an attempt to confirm these assays
and to confirm the presence of sphalerite mineralization
Explorers collected a total of eight (8) selected grab samples
over a strike length of approximately fifty (50) meters. These
samples concentrated on the sulfide rich areas and included
sulfide vein material. The sulfide rich sections contained
pyrite, arsenopyrite ranging from 5% to generally 25-30% while
the sulfide veins exceeded 75% sulfides. These samples were not
intended to be representative of the entire shear zone but were
intended only to show the presence of high grade gold values
within well mineralized sections and to confirm the presence of
sphalerite.
The table below lists the samples collected and their respective
assay results. The samples were collected from west to east
across the trenched area by Robert Calhoun a professional
geologist of GeoCal Exploration Services. Assays were completed
by Swastika Laboratories LTD, in Swastika, Ontario, using a one
assay ton analysis. Swastika completed internal checks on the
prepared pulps but no external assays were done.
SAMPLE NO. xAu g/t xAg g/t xAs% xZn%
40833 x20.537 x13.3 x8.28 x0.23
40834 x17.589 x25.3 x4.30 x2.19
40835 x29.623 x33.2 x8.26 x1.26
40836 x60.206 x79.9 x2.64 x6.13
40837 x 7.371 x 7.6 x2.04 x1.02
40838 x 1.303 x 2.6 x0.296 x0.149
40839 x13.714 x11.3 x6.91 x0.0772
40840 x 8.949 x16.4 x1.54 x0.876
In other developments Explorers contracted Val D'or Sagax INC, a
geophysical surveying company from Val D'or Quebec, to complete
a time domain induced polarization survey over three grid lines
spaced at 100m. These lines cover the area of the above mentioned
trench and west of the trench. Two induced polarization anomalies
extend across all three lines and a third anomaly was located on
only two lines. The strongest anomaly was located in the area of
the trench. Val D'or described the anomaly as follows: "strongest
response on the grid with good extension at depth." They proposed
one drill hole on the anomaly and pending results a second hole
was proposed 100 meters to the east. The proposed hole would
undercut previous drilling by Esso Resources. Esso had located
the shear zone over a core length of approximately 100m with
variable mineralization and a peak assay value of 4.82 g/t Au
over 0.70 meters. The IP survey suggests that the located anomaly
improves with depth and the present drill bole will intersect the
strongest IP response at a vertical depth of 200 meters.
Explorers is encouraged by the results of work to date. A two
hole drilling program has been initiated to evaluate the
significance of the IP results.
For further information, please contact:
Garry R. Stein, Vice- President, Chief Financial Officer and
Secretary, Prospectors Alliance Corporation at (416) 360-5333 |
