OK all Bitch, Bitch, Bitch,Bitch,Bitch, thats all you guys ever do! Well here it is and by the way RSR is currently $2.18-$2.20.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: RIOSUN RESOURCES CORPORATION
VSE SYMBOL: RSR
NASDAQ SYMBOL: RRSCF
MAY 15, 1997
Riosun Resources Corporation Mobilizes Exploration
Program
CALGARY, ALBERTA--The Company is mobilizing a detailed field
mapping and trenching exploration program in its contracted five
concessions in the Betsiaka area, in Ambilobe Province in
northernmost Madagascar. This program will be directed by
Canadian geologists and should take about three months in order to
define areas recommended by the Company's independent consulting
geologist, G. Lloyd P.Eng., P. Geol., who in February and March
collected about 200 samples from more than 24 sites for assay. In
addition, Mr. Lloyd obtained 15 rock samples containing visible
gold. Ten of these were assayed, and indicated gold values
varying from 1.46 grams to 1565.0 grams per metric tonne. There
were also numerous small, artisinal gold operations in close
proximity to the collection sites.
The Company is focusing on a complex of epithermal quartz veins in
amphibolites, para-gneiss, migmatic granite with shear zones, and
faults of Precambrian age that are highly altered. The area is
relatively easily accessible and associated with low hills and
shallow valleys, more or less, denuded of vegetation. Nearby, in
ancient gold mines, between 1906 and 1934, underground development
was carried out on a series of quartz veins which carried high-
grade gold values. Although detailed mine records have been lost,
there is no indication that the area has ever been drilled.
The Company expects the exploration team to be selected within the
next 2 weeks in Madagascar within a month of this new release.
The Company is completing its negotiations on a private placement
and will announce the results of the funding in a timely fashion.
The Company will announce results of the new program as it becomes
available. |
