I just spotted this news release and thought the company looked very interesting. I remember owning one company where mr. Glackmeyer was running the show several years ago. I can't put my foot on it right now. If anyone out there has this info I would appreciate it. Jacques
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FFRÿÿ1997-05-14 ÿÿ(provided courtesy of Canadian Corporate News)
Fairstar Announces Significant New Gold Discovery at the Benso Concession in Ghana, West Africa
MONTREAL, QUEBEC--Following completion of an initial fifteen (15)
hole diamond drilling program, Fairstar Explorations Inc.
("Fairstar") is pleased to announce the discovery of a major new
gold zone extending over a distance of approximately 2.5
kilometres at the Subriso East Prospect, located within the 150
square kilometre Benso Concession in Ghana, West Africa. A total
of 4,300 metres of HQ and NQ core was drilled with each hole
averaging approx. 300 metres in length to a vertical depth of 200
metres. The diamond drilling program, designed to test a
north-south trending induced polarization anomaly with coincident
gold and copper soil geochemical anomalies, was carried out under
the supervision and management of CME and Company, a highly
respected geological consulting firm of independent mining
professionals. It is particularly significant to note that gold
values greater than 1.0 g/t were intersected in all fifteen (15)
of the drill holes. In nine (9) of the drill holes, gold values
of between 3.19 g/t Au and 27.13 g/t Au were intersected over
widths varying from 1.0 to 13.6 metres. The underlying geology
consists of heavily altered and sheared upper Birimian volcanics
in contact with a large mass of porphyry to the East.
All core samples were analyzed by fire assays at Intertek Testing
Services (Ghana) Ltd. at Obuasi, Ghana with subsequent
confirmation of these results utilizing metallic sieve fire assay
("metallics") by Acme Analytical Laboratories Ltd. in Vancouver,
Canada. Although some of the metallics are still pending, results
to date compare favorably. Utilizing a 1.0 g/t cut-off grade, the
table below summarizes the assay data obtained to date with the
more significant results (3.0 g/t or greater) highlighted in the
shaded areas. A map of the Subriso East Prospect, detailing the
completed drill hole locations is attached.
/T/
DIAMOND INTERVAL CORE LENGTH GRADE GRADE
DRILL (m) Intertek Acme
HOLE # (Fire (Metallics)
Assay)
FROM TO (m) (ft) g/t oz/t g/t oz/t
Au Au Au Au
97-1 52.20 55.20 3.00 9.84 2.02 0.07 2.69 0.09
63.80 65.30 1.50 4.92 1.17 0.04 1.30 0.05
66.80 68.30 1.50 4.92 1.38 0.05 Pending -
72.80 74.30 1.50 4.92 1.19 0.04 Pending -
143.90 145.50 1.60 5.25 1.58 0.06 3.26 0.11
154.50 156.00 1.50 4.92 1.04 0.04 1.13 0.04
220.50 222.00 1.50 4.92 2.28 0.08 0.31(1)0.01
Fairstar Announces Significant New Gold Discovery_Ghana, West
Africa
DIAMOND INTERVAL CORE LENGTH GRADE GRADE
DRILL Intertek Acme
HOLE # (Fire (Metallics)
Assay)
FROM TO (m) (ft) g/t oz/t g/t oz/t
Au Au Au Au
97-2 11.00 12.00 1.00 3.28 1.78 0.06 2.16 0.08
49.55 51.55 2.00 6.56 1.27 0.04 Pending -
104.55 107.55 3.00 9.84 4.43 0.16 7.04 0.25
165.55 173.55 8.00 26.24 1.34 0.05 1.25 0.04
181.55 187.35 5.80 19.02 1.11 0.04 1.69 0.06
193.35 194.35 1.00 3.28 1.39 0.05 1.30 0.05
215.35 216.35 1.00 3.28 1.11 0.04 1.44 0.05
266.35 267.35 1.00 3.28 6.32 0.22 8.47 0.30
97-3 27.43 28.96 1.53 5.02 1.30 0.05 Pending -
45.50 47.00 1.50 4.92 1.13 0.04 1.13 0.04
97-4 12.19 16.76 4.57 14.99 1.13 0.04 1.30 0.05
22.50 24.00 1.50 4.92 1.14 0.04 1.20 0.04
165.00 167.00 2.00 6.56 0.81 0.03 1.51 0.05
183.00 186.00 3.00 9.84 2.96 0.10 2.93 0.10
206.00 209.00 3.00 9.84 1.77 0.06 1.82 0.06
217.00 224.00 7.00 22.96 1.18 0.04 Pending -
226.00 227.00 1.00 3.28 1.11 0.04 Pending -
97-5 91.30 92.30 1.00 3.28 1.37 0.05 1.54 0.05
97-6 48.00 49.00 1.00 3.28 4.44 0.16 3.81 0.13
116.80 117.80 1.00 3.28 1.43 0.05 1.54 0.05
120.80 134.40 13.60 44.61 3.96 0.14 3.96 0.14
incl.126.80 127.80 1.00 3.28 27.13 0.95 26.54 0.93
138.70 140.80 2.10 6.89 1.43 0.05 1.54 0.05
97-7 64.00 67.00 3.00 9.84 3.35 0.12 0.58(1)0.02
109.00 110.00 1.00 3.28 1.15 0.04 1.20 0.04
133.00 134.00 1.00 3.28 0.98 0.03 1.27 0.04
139.00 140.00 1.00 3.28 1.27 0.04 1.30 0.05
147.00 150.00 3.00 9.84 4.20 0.15 2.93 0.10
161.00 163.00 2.00 6.56 1.86 0.07 1.60 0.06
172.00 174.00 2.00 6.56 1.11 0.04 1.13 0.04
Fairstar Announces Significant New Gold_Ghana, West Africa
DIAMOND INTERVAL CORE LENGTH GRADE GRADE
DRILL (m) Intertek Acme
HOLE # (Fire Assay) (Metallics)
FROM TO (m) (ft) g/tAu oz/tAu g/tAu oz/tAu
97-8 28.96 30.48 1.52 4.99 0.99 0.03 1.17 0.04
33.53 35.05 1.52 4.99 0.83 0.03 1.13 0.04
242.00 247.00 5.00 16.40 5.18 0.18 6.21 0.22
97-9 161.30 164.00 2.70 8.86 1.61 0.06 Pending -
185.40 187.00 1.60 5.25 1.22 0.04 Pending -
97-10 214.30 216.50 2.20 7.22 4.04 0.14 3.33 0.12
97-11 134.00 135.00 1.00 3.28 1.66 0.06 1.68 0.06
139.00 147.00 8.00 26.24 1.85 0.06 1.89 0.07
incl. 140.00 141.00 1.00 3.28 5.10 0.18 5.90 0.21
154.00 161.00 7.00 22.96 8.45 0.30 8.05 0.28
97-12 102.00 105.30 3.30 10.82 1.39 0.05 1.27 0.04
109.30 111.30 2.00 6.56 1.02 0.04 0.84 0.03
120.30 121.30 1.00 3.28 1.40 0.05 Pending -
283.80 285.80 2.00 6.56 4.31 0.15 4.24 0.15
293.80 294.80 1.00 3.28 1.04 0.04 1.22 0.04
97-13 47.50 48.50 1.00 3.28 1.84 0.06 1.31 0.05
97-14 23.00 27.00 4.00 13.12 1.15 0.04 1.35 0.05
34.00 35.00 1.00 3.28 1.18 0.04 0.04(1) 0.00
54.00 60.00 6.00 19.68 1.53 0.05 2.02 0.07
135.00 136.00 1.00 3.28 2.40 0.08 3.19 0.11
217.00 220.00 3.00 9.84 3.59 0.13 3.73 0.13
incl. 217.00 218.00 1.00 3.28 7.91 0.28 8.22 0.29
97-15 82.50 83.50 1.00 3.28 1.69 0.06 Pending -
117.65 119.79 2.14 7.02 1.53 0.05 Pending -
220.00 221.00 1.00 3.28 1.21 0.04 Pending -
279.00 282.00 3.00 9.84 1.22 0.04 Pending -
(1) denotes a re-split and re-analysis to follow.
/T/
As the interpreted gold zone remains open to the north and south,
Fairstar's geological consultant, CME and Company, have
recommended a Phase I work program consisting of grid extensions
(15 kms.), induced polarization surveying (40 kms.) to be
followed by a 10,000 metre diamond drilling program. Contingent
upon favorable results from the above program, a 15,000 metre
Phase II diamond drilling program would be recommended.
Subriso West Prospect - New Gold Target
Fairstar has outlined an additional gold zone, referred to as the
Subriso West Prospect, located approximately 1.5 kilometres west
of the Subriso East Prospect, and which strikes approx.
north-south and extends over a distance of approximately 2.0
kilometres. Four (4) diamond drill holes (1,200 metres) have just
been completed to test this zone which was recently outlined by
geophysical and geochemical surveys. Assay results are expected
by mid-June, 1997.
Fairstar has now earned a 100 percent working interest in the 150
square kilometre Benso Concession, subject to a 25 percent net
profit interest in favor of the Republic of Ghana and the
vendor of the Concession.
Fairstar Explorations Inc., symbol FFR, is a junior mining
exploration Company whose shares are listed on the Montreal and
Toronto Stock Exchanges. The Company, with its head office in
Montreal, is actively exploring several gold properties in Ghana,
West Africa, and the Casa Berardi area of Quebec, Canada.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Fairstar Explorations Inc.
Larry Nachshen
Chairman
(514) 486-6177
(514) 486-7371 (FAX)
www.fairstar.com
or
Fairstar Explorations Inc.
Karl Glackmeyer
President
(514) 486-6177
(514) 486-7371 (FAX)
www.fairstar.com
or
Fairstar Explorations Inc.
George Tooley
Vice-President Corp. Development
(514) 486-6177
(514) 486-7371 (FAX)
www.fairstar.com |
