Tony
You were right about the results.....looks good
and a little rise in price today
(I mean yesterday....getting late isn't it?)
This press release was from May 12th
but I just found it now because it was
referred to and summarized on the At Americas page.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: GEOMAQUE EXPLORATIONS LIMITED
TSE SYMBOL: GEO
MAY 12, 1997
Geomaque Explorations - Vueltas del Rio Drilling
Continues to Generate Positive Results
TORONTO, ONTARIO--
Program expanded to 16,000 metres, Second Rig Due On-site by
Mid-month
Geomaque Explorations Ltd. is pleased to announce continued
positive results and an expansion of the drilling program at its
100 percent-owned Vueltas del Rio gold deposit in Northwestern
Honduras.
As a result of success to date, the Company has expanded the Phase
One drill program at Vueltas del Rio from 6,000 metres to 16,000
metres. A second drill rig is being added and is expected to be
operational, initially in the San Juan zone, by mid-May. Detailed
geological mapping, trenching and sampling of the Vueltas del Rio
deposit is under way, and is scheduled to begin shortly on other
targets.
Geomaque began drilling in the San Juan zone in early February to
determine the extent of the Vueltas del Rio mineralization along
strike and at depth. The bulk of work completed prior to
Geomaque's involvement focused on the near-surface oxide
mineralization. Geomaque's drill program has stepped out to the
western portion of the San Juan zone with holes averaging 90
metres in depth to examine the potential of the deeper sulphide
zone. Infill drilling is continuing back along strike on roughly
20 metre centres to define an oxide reserve and determine the
eastern extension of the shear zone.
"We are extremely encouraged by the continuity of the sulphide
mineralization as we move to the west, and indications are that
the mineralization in the San Juan zone links up with that in the
Main zone," said Phillip Walford, Vice-President, Exploration.
"The deposit remains open in all directions, and our immediate
goal is to fully define the mineralization in the San Juan zone
before moving into the Main zone."
Recent drill results from the San Juan zone are as follows:
/T/
Hole # Section Interval Grade (g/t)
(m)(x) Uncut Cut(xx) Type
V-6 1020 55-63 3.52 Sulphide
64.25-87 0.77 Sulphide
V-10 1000 0-4 0.47 Oxide
14-30 2.30 Oxide
70-81 0.95 Sulphide
V-11 980 66-81 1.69 Sulphide
Incl. 76-81 4.07
V-12 980 40-46 0.65 Sulphide
86-117 1.55 Sulphide
Incl. 92-101 3.70
120-135 0.71 Sulphide
V-13 980 0-31 1.80 Oxide
37-56 0.56 Mixed
61-72 0.47 Sulphide
V-14 960 0-12 1.98 Oxide
22-36 2.44 Oxide
Incl. 23-38 4.93
39-43 0.79 Mixed
61-74 1.21 Sulphide
V-15 960 63.75-67 14.18 9.40 Sulphide
72-83 1.13 Sulphide
V-16 960 Dyked out
V-17 940 121-128.1 1.48 Sulphide
V-18 940 44-48 1.79 Sulphide
79.75-88 1.02 Sulphide
93-104 1.70 Sulphide
V-19 920 53-62 0.92 Sulphide
(x) All holes are drilled at 60 degrees and intervals approximate
true thickness
(xx) "Cut" grades are cut to the equivalent of one ounce per ton
gold.
/T/
Geomaque Explorations Ltd. is an international gold mining and
exploration company which is producing gold from its 100
percent-owned San Francisco Mine in the State of Sonora, Mexico,
and exploring for gold in Latin America and West Africa.
There is a map available by contacting the company at the number
below or by accessing CCN's Internet Website at
cdn-news.com.
-30-
Hoping to see a higher price tomorrow (I mean today)
JD |
