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Ontex Resources Limited -
Ontex receives Beardmore-Geraldton results
Ontex Resources Limited ONT
Shares issued 39,036,506 Nov 29 2000 close $.650
Nov 30 2000 9:23:54
Mr. Gary Conn reports
Ontex Resources has received additional results of drilling from the 29,000-acre, 655-claim Beardmore-Geraldton property, located 180 kilometres northeast of Thunder Bay, Ont. The company recently completed a phase of drilling designed to expand the reserves within the Brookbank gold deposit. This 18-claim property is 100 per cent owned by Ontex, subject to a 1-per-cent royalty to Metalore Resources Limited, and contains an inferred mineral resource calculated by Placer Dome in 1990, totalling 1,381,980 tons, grading 0.263 ounce of gold per ton, (0.233 ounce per ton cut to one ounce Au/ton). John P. Thompson & Associates is currently revising the resource estimate on the Brookbank gold deposit using all drill intersections to date, in compliance with proposed National Instrument 43-101. Recent drilling on the Brookbank deposit consisted of 16 new holes, and wedges from two of these holes.
The Cherbourg-Fox Ear property comprises a group of claims throughout Irwin and Sandra townships (contiguous to the Brookbank) wherein Ontex is earning a 60-per-cent interest from Metalore Resources Limited. Current drilling on the Fox Ear property is designed to test the down dip continuity on the Irwin showing. Upon completing the current phase of drilling on the Fox Ear property, Ontex will release the results of drilling once they are received from the assay lab.
Significant results from drilling on both the Brookbank and Fox Ear properties are compiled in the table appended to this release. All assaying is being conducted by Ghislain Lebel at Swastika Laboratories Ltd., in Swastika, Ont.
DRILL HOLE INTERSECTIONS FROM THE
BROOKBANK GOLD DEPOSIT AND THE
FOXEAR PROPERTY
Hole No. B-00-04 line 11+00 west, 234 metres south, azimuth 339 degrees, dip -75 degrees (total length: 525.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
474.5 519.0 44.5 15.1 1.42
502.7 503.7 1.0 1.5 1.05
507.7 508.9 1.2 1.5 1.17
517.0 518.0 1.0 1.5 0.79
Hole No. B-00-04W1 line 11+10 west, 180.6 metres south, azimuth 335.4 degrees, dip -72.8 degrees (total length of drilling after wedge installation: 322.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
471.5 510.0 38.5 13.3 1.68
471.5 472.5 1.0 1.5 1.78
493.5 494.7 1.2 1.5 3.74
509.0 510.0 1.0 1.5 1.06
Hole No. B-00-05 line 11+00 west, 234.0 metres south, azimuth 338 degrees, dip -72 degrees (total length: 480.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
442.5 448.8 6.30 2.24 3.30
471.35 472.45 1.10 1.5 1.06
Hole No. B-00-06 line 12+17 west, 163.0 metres south, azimuth 345 degrees, dip -75 degrees (total length: 342.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
302.25 335.30 33.05 8.9 3.53
302.25 304.5 2.25 1.5 7.4
323.85 335.30 11.45 3.1 5.24
Hole No. B-00-07 line 10+00 west, 200.6 metres south, azimuth 342 degrees, dip -72 degrees (total length: 409.0 metres)
No significant assays
Hole No. B-00-08 line 8+00 west, 261.0 metres south, azimuth 341 degrees, dip -68 degrees (total length: 9.0 metres)
Hole collared but not continued
Hole No. B-00-09 line 17+00 west, 185.7 metres south, azimuth 345 degrees, dip -70.5 degrees (total length: 339.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
325.5 327.5 2.00 1.5 8.03
Hole No. B-00-10 line 11+00 west, 214 metres south, azimuth 341 degrees, dip -69.0 degrees (total length: 371.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
345.0 351.4 6.40 2.54 3.51
Hole No. B-00-11 line 11+00 west, 255 metres south, azimuth 343.5 degrees, dip -75 degrees (total length: 659.0 metres)
No significant assays
Hole No. B-00-12 line 12+00 east, 269.0 metres south, azimuth 326 degrees, dip -73.5 degrees (total length: 99.0 metres)
Hole abandoned
Hole No. B-00-13 line 12+00 west, 245.0 metres south, azimuth 338 degrees, dip -75.7 degrees (total length: 632.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
621.0 626.2 5.20 1.5 13.88
Hole No. B-00-13W1 line 12+38 east, 106.31 metres south, azimuth 340 degrees, dip -76 degrees (total length of drilling after wedge installation: 81.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
620.2 624.7 4.50 1.5 11.63
Hole No. B-00-14 line 21+00 west, 394.4 metres south, azimuth 347.4 degrees, dip -64.5 degrees (total length: 658.5.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
672.5 675.4 2.90 1.5 29.85
Hole No. B-00-15 line 21+32 west, 293 metres south, azimuth 340 degrees, dip -72 degrees (total length: 609.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
602.25 603.20 0.95 1.5 0.83
Hole No. B-00-16 line 21+32 west, 293 metres south, azimuth 340 degrees, dip -68 degrees (total length: 529.0 metres)
No significant assays
Hole No. B-00-17 line 12+47 west, 126 metres south, azimuth 355 degrees, dip -64 degrees (total length: 183.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
150.5 151.5 1.00 1.5 9.68
161.2 163.0 1.80 1.5 3.35
Hole No. B-00-18 line 10+10 west, 140 metres south, azimuth 343 degrees, dip -61.0 degrees (total length: 192.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
170.0 172.0 2.00 1.5 2.32
184.0 187.0 3.00 2.0 2.68
Hole No. B-00-19 line 8+00 west, 93.0 metres south, azimuth 343 degrees, dip -58.5 degrees (total length: 180.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
160.5 173.5 13.0 9.0 1.35
161.5 163.0 1.50 1.04 2.41
Hole No. F-00-04 line 24+00 east, 238.5 metres south, azimuth 342 degrees, dip -73 degrees (total length: 430.0 metres)
Core True
From To Width Width Au
(m) (m) (m) (g/t)
347.5 351.3 3.80 1.5 9.37
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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