Drill results hot off the press.
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isdnwire.com
ATAPA MINERALS LIMITED ANNOUNCES DRILL RESULTS
FROM CIKIDANG PROJECT, JAVA, INDONESIA
1997-05-28
TORONTO, ONTARIO
Atapa Minerals Limited ("Atapa") is pleased to announce the results of the first 8 diamond drill holes from the 1997 drilling program on the Cikidang project.
The Cikidang project forms part of a 101,400 hectare property located in West Java, Indonesia. It is an advanced exploration project located approximately 30 kilometres southwest of the Gunung Pongkor Mine, which is currently in production with announced reserves of approximately 3.3 million ounces gold and 30.9 million ounces silver.
The property is held pursuant to a Kuasa Pertambangan (KP) held by PT. Aneka Tambang ("Antam"), the Indonesian state mining company, and the Cikidang project is the subject of a joint venture agreement between Atapa, Antam and PT. Oceanic Union Marine. Atapa has the right to acquire a minimum 54% fully diluted ownership interest in the property by fulfilling certain conditions and by funding exploration and development expenses on the property until commencement of commercial production.
The drilling program was initiated to test the Cikidang quartz vein structure that had been previously identified by Antam as having a resource of approximately 473,000 tonnes grading 10 g/t gold and
87.7 g/t silver as reported in Antam's feasibility study. The structure is of variable widths, dips westward 70 to 85 degrees,is open to the north and has been partially tested at depth and to the south. The initial objective of the program is to test the known strike length of 1,000 metres at 40 metre spaced sections. Each drill site will have from 2 to 4 holes drilled to intersect the structure at 20 metres to 40 metres down dip from levels developed by Antam.
Results: Section A (Note: All averages weighted by intercept length)
Drill hole CKD 20 was drilled at -45 degrees to test for the down dip extension of the quartz vein structure. Antam's 1260 level reported 1.8 metres grading 15.42 g/t gold on section; the 1220 level reported 2.3 metres grading 5.68 g/t gold on section and 1.2 metres grading 9.98 g/t gold on section. In addition, Antam's drill hole CKD 7 at the 1196 level reported a cored length of 7.15 metres grading 11.25 g/t gold.
CKD 20 intersected the structure at Antam's level 1184 and returned a core intersection of 2.15 metres averaging 11.08 g/t Au and 8 g/t Ag, plus another intersection of 2.1 metres averaging 13.92 g/t Au and 12 g/t Ag.
Atapa Minerals Announces Drill Results (continued)
Section B
Drill holes CKD 21 (-45 degrees), CKD 22 (-65 degrees) and CKD 23 (-75 degrees) were drilled to test the structural complexity as well as the down dip extension of the Cikidang shear zone as observed occurring in a ventilation raise from Cross Cut 14 (Antam has reported 15 vertical metres of 38 g/t gold in the ventilation raise over sampled widths that average 2.1 metres) from the 1220 level.
CKD 21 intersected the structure at elevation 1225 and returned an intersection of 2.5 metres averaging 11.97 g/t Au and 95 g/t Ag.
CKD 22 intersected the structure at elevation 1217 and returned an intersection of 2.15 metres averaging 14.98 g/t Au and 88 g/t Ag.
CKD 23 intersected the shear zone from 38 metres (elevation 1204) to 51.7 metres with no significant results, possibly due to faulting of the gold mineralized vein.
Section C
Drill holes CKD 24 (-45 degrees), CKD 25 (-60 degrees), CKD 26 (-75 degrees) and CKD 27 (-85 degrees) were drilled to test the down dip continuity of the shear zone and mineralization reported by Antam at elevation 1260 as containing 2.1 metres grading 15.33 g/t Au, and elevation 1220 containing 3.45 metres grading 9.7 g/t Au.
CKD 24 intersected the shear zone from 46.3 metres (elevation 1211) to 54.4 metres down hole and returned an intersection of 3.75 metres averaging 13.55 g/t Au and 42 g/t Ag.
CKD 25 intersected the shear zone from 47.7 metres (elevation 1202) to 62 metres down hole and returned an intersection of 2.2 metres averaging 36.06 g/t Au and 64 g/t Ag.
CKD 26 intersected the shear zone from 69 metres (elevation 1178)to 83.2 metres down hole and returned an intersection of 1.7 metres averaging 68.80 g/t Au and 51 g/t Ag.
CKD 27 intersected the shear zone from 94 metres (elevation 1151) to 106 metres down hole and returned an intersection of 2.9 metres averaging 15.33 g/t Au and 14 g/t Ag.
Sample preparation and assay results were performed by PT Intertek Testing Services, an independent commercial laboratory. Gold results were determined using standard 50 gram charge fire assay methods.
The 5,000 metre drilling program is continuing to evaluate the gold potential of the Cikidang project. The assay results verify the existence of gold but do not necessarily indicate the presence of commercial mineralization.
Atapa Minerals Announces Drill Results (continued)
Summary
Hole# From To Length Gold Silver
(metres) (metres) (metres) (g/t) (g/t)
------------------------------------------------------------------
CKD 20 57.50 57.80 0.30 11.70 13
57.80 58.20 0.40 .17 1
58.20 58.85 0.65 14.40 8
58.85 59.65 0.80 13.60 11
59.65 60.00 0.35 .34 1
60.00 60.35 0.35 .77 2
60.35 61.25 0.90 2.09 2
61.25 62.25 1.00 .57 2
62.25 63.00 0.75 4.13 9
63.00 64.00 1.00 .41 1
64.00 65.00 1.00 .19 2
65.00 65.40 0.40 4.41 3
65.40 65.70 0.30 .29 < 1
65.70 66.50 0.80 5.00 6
66.50 67.00 0.50 23.40 17
67.00 67.30 0.30 13.10 13
67.30 67.80 0.50 19.20 16
CKD 21 22.60 23.20 0.60 25.40 173
23.20 24.00 0.80 7.08 109
24.00 24.35 0.35 3.30 25
24.35 25.10 0.75 10.50 49
25.10 25.80 0.70 1.12 9
25.80 26.50 0.70 1.52 29
CKD 22 29.65 30.20 0.55 3.36 76
30.20 30.85 0.65 42.80 156
30.85 31.80 0.95 2.67 48
31.80 32.15 0.35 .56 17
32.15 32.80 0.65 .06 13
32.80 33.80 1.00 .63 8
33.80 34.30 0.50 .89 19
34.30 35.15 0.85 1.49 27
35.15 36.00 0.85 1.48 27
36.00 36.70 0.70 1.24 66
36.70 37.25 0.55 .19 40
37.25 38.25 1.00 .14 74
38.25 39.20 0.95 .07 41
39.20 39.85 0.85 16.50 44
CKD 23 No significant results found
CKD 24 49.00 49.90 0.90 12.00 48
49.90 50.80 0.90 28.85 11
50.80 51.20 0.40 15.60 106
51.20 52.00 0.80 5.05 64
52.00 52.75 0.75 5.01 18
CKD 25 57.80 58.30 0.50 34.27 67
58.30 59.00 0.70 62.05 67
59.00 59.50 0.50 31.27 73
59.50 60.00 0.50 6.27 46
60.00 60.50 0.50 2.76 10
60.50 61.00 0.50 1.52 5
CKD 26 69.00 70.10 1.10 1.46 9
70.10 70.50 0.40 1.16 12
70.50 70.90 0.40 37.75 32
4.90 Low grade
75.80 76.50 0.70 107.50 77
76.50 76.90 0.40 95.05 59
76.90 77.50 0.60 6.15 15
77.50 78.10 0.60 3.47 10
1.75 Low grade
79.85 80.20 0.35 2.07 5
1.90 Low grade
82.10 82.60 0.50 5.56 9
CKD 27 94.60 95.10 0.50 2.07 11
95.10 95.70 0.60 .04 17
95.70 96.40 0.70 .05 7
96.40 97.10 0.70 47.05 37
97.10 97.50 0.40 2.11 7
97.50 97.80 0.30 .27 2
97.80 98.25 0.45 .30 8
98.25 98.60 0.35 9.85 7
98.60 99.00 0.40 13.00 9
99.00 99.30 0.30 6.03 6
4.40 Low grade
103.70 104.10 0.40 84.05 70
ATAPA currently has approximately 7.6 million common shares outstanding. Shares trade on the Canadian Dealing Network (CDN) in Toronto as ATAP.
For further information, please contact Scott Keevil or Janet Kosowan at Atapa:
Canada: Toll Free: 1-800-392-8430 (Canada and the U.S.A.)
Indonesia: Telephone: 62-21-780-3291
Facsimile: 62-21-780-1058
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