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G
Prospectors Alliance Corporation - News Release
Prospectors to launch exploration on Bescheffer
Prospectors Alliance Corporation YRP
Shares issued 20,466,121 2001-01-05 close $0.1
Tuesday Jan 9 2001 News Release
Mr. Jean-Claude Bonhomme reports
Explorers Alliance (currently trading under its previous name of Prospectors Alliance) plans to conduct a diamond drill program on its 100-per-cent-owned property in Bescheffer township, Quebec. The initial program of four holes for a minimum of 1,000 metres will focus on two sections of the property.
The Bescheffer property, located approximately seven kilometres 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 metres and 200 metres west of the property boundary. These zones have been estimated by Soquem Inc. in March, 2000, and May, 2000, respectively to contain 600,000 tons grading 2.80 per cent Cu, 2.80 grams per tonne (g/t) Au and 750,000 tons grading 2.00 per cent Cu and 0.35 g/t Au. A drill hole collared 25 metres west of the property boundary intersected considerable mineralization with reported assay values of 1.03 per cent Zn, 1.82 g/t Ag over 7.4 metres and 2.41 per cent Cu, 9.59 g/t Ag over 3.3 metres. There are also several other intercepts over a wide (more than 100 metres) thickness of altered felsic volcanics. A pulse electromagnetic 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 seven kilometres 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 metres; 4.37 g/t over 12 metres and 6.38 g/t over eight metres as well as several shorter intercepts including 29.7 g/t over 0.5 of a metre. 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.
(c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com
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