Hello Graham;
Newsrelease;
Suriname phase I results
Blue Ribbon Resources Ltd BLO
Shares issued 12,154,612 May 30 close $0.25
Mon 2 Jun 97 News Release
Mr Jack DiMarchi reports
The company completed the first phase of its 1997 exploration program in
Suriname on May 1. The program focused on the Toeboeka, Lawa and Oelemari
concessions which are considered highly prospective for gold on the basis
of positive results from earlier work, or on geologic similarities to other
nearby gold occurrences. In all, the program included cutting more than
85km of grid line, collecting 1,880 soil samples and 50 pan concentrate
samples and completing 15 deep auger drill holes. Assays have been received
for 1,642 of these samples, generating positive results on the Oelemari and
Toeboeka concessions.
On the Toeboeka concession (9,600 hectares) results of deep auger drilling
at the Chapman soil anomaly indicate the presence of a
west-northwest-trending mineralized zone which remains open to the east and
west. The Chapman anomaly consists of a 300m x 150m zone where soils exceed
100 ppb gold and are as high as 1,096 ppb gold. Assay results from a 15
hole deep auger drilling program include the following:
Toebooka Concession, ChapMan Zone
Auger Grade
Hole Width Gold
No. (m) (g/t)
CH03 1.0 12.97
CH13 3.0 3.20
CH14 6.0 4.10
incl. 1.0 17.43
Additional deep auger drilling will be used to test extensions of this zone
during the phase II program.
On the Oelemari concession (1 8,200 hectares) the company collected 50 pan
concentrate samples bringing the total number of pan samples collected to
date to 112. Significantly, 26 samples assayed 1 milligram gold or higher,
with a high assay of 7.26 mg. These anomalous samples define a large
cluster of gold bearing catchments in the northwest portion of the
concession and indicate that an important gold source exists in that area.
Grid-based soil sampling has been started in this area and 913 soil samples
have been collected to date.
Assays for 688 of the samples have been received. Eight assays exceed 100
ppb gold, with a high assay of 788 ppb gold, The assays suggest that with
additional in-fill soil sampling, drill targets can be identified in phase
II. in addition to the in-fill soil sampling in phase II, the grid will be
expanded to incorporate the remaining anomalous catchments.
On the Lawa concession (20,000 hectares) the company collected 813 soil
samples bringing the total number of samples collected to date to 1,817.
This sampling focused on the eastern portion of the concession underlain by
Paramaka formation greenstones and represents approximately 20% of the
concession area. Partial assays for 637 of the 813 soil samples range as
high as 140 ppb gold. The remaining 80% of the concession is unexplored and
is considered highly prospective owing to its geologic similarities with
the adjoining Benzdorp concession where Canarc Resource Corp, recently
announced a large porphyry-style bulk tonnage gold prospect. The company
will begin a systematic pan concentrate sampling program in the unexplored
portion of Lawa in phase II.
Further results from the phase I program are expected shortly.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
With regards,Frank |
