Hello KC Jones:
It looks like the company has made some news on the Ni-Cu-PGE play (they made a press release several days ago), as well as raised some money and are in the process of making more news.
Midas
Explorers To Launch Exploration On High Potential Bescheffer Property
Toronto, Ontario - Tuesday, January 9, 2001, 4:00 PM EST
Explorers Alliance Corporation (currently trading under its
previous name of Prospectors Alliance Corporation, YRP-CDNX
Toronto 20,466,121 outstanding shares) plans to conduct a diamond
drill program on its 100% owned property in Bescheffer Township
Quebec. The initial program of four (4) holes for a minimum of
1000 meters will focus on two sections of the property.
The Bescheffer property, located approximately 7 kilometers
southeast of Selbaie Mine, is underlain by a hydrothermally
altered sequence of felsic volcanics compositionally similar to
those hosting the Selbaie deposits. Geophysical surveys,
previously completed, have found several induced polarization
anomalies within the altered felsic rocks. Soquem Inc. reported
in 2000 that they had located two mineralized zones within 800
and 200 meters west of the property boundary. These zones have
been estimated by Soquem Inc. in March and May, 2000 respectively
to contain 600,000 tons grading 2.80% Cu, 2.80 g/t Au and 750,000
tons grading 2.00% Cu and 0.35 g/t Au. A drill hole collared 25
meters west of the property boundary intersected considerable
mineralization with reported assay values of 1.03% Zn, 1.82 g/t
Ag over 7.4 meters and 2.41 % Cu, 9.59 g/t Ag over 3.3 meters.
There are also several other intercepts over a wide (>100m)
thickness of altered felsic volcanics. A PEM survey completed on
this hole indicated a wide zone of mineralization to the east.
This wide zone would be located on Explorers property where
induced polarization anomalies confirm the pulse survey results.
Explorers plans to complete two holes in this area.
Approximately 7 kilometers to the northeast Soquem Inc. has also
reported a gold zone near the north boundary of Explorers
property. This zone of unknown size contains intercepts of 6.14
g/t Au over 2.3 meters; 4.37 g/t over 12 meters and 6.38 g/t over
8.0 meters as well as several shorter intercepts including 29.7
g/t over 0.5 meters. The zone is south dipping into the Explorers
property where induced polarization anomalies are located.
Explorers plans to complete two holes in this area.
Explorers is very encouraged by the Soquem results and intends to
aggressively explore this high priority target.
-30-
For further information, please contact:
Jean-Claude Bonhomme, President and CEO or Garry R. Stein,
Vice- President, Chief Financial Officer and Secretary, Explorers
Alliance Corporation at (416) 360-5333
* The map is available on the BCE Emergis website at
www.e-newsservices.com . |
