HERE IT IS!! NEWS RELEASE- DRILLING TO COMMENCE AT CARBONEAR PROPERTYSOLIDATED VISCOUNT RESOURCES LTD.
830-355 Burrard Street
Vancouver, BC V6C 2G8
Tel: 604-488-0133
Fax: 604-669-5715
June 4, 1997
N E W S R E L E A S E
Consolidated Viscount Set to Commence Drilling
of its Carbonear Property
Consolidated Viscount Resources Ltd. (CVR-VSE) wishes to announce that it
has mobilized a project geologist, drill crews, and a drilling rig to
commence drilling on the "Carbonear" base metal property in Newfoundland.
On February 24, 1997, Viscount acquired an option to earn a 50% interest in
the "Carbonear" property from Vulcan Minerals Inc. (ASE:VUL). The property
covers an extensive terrain which is highly prospective for large tonnage
base metal mineralization. Drilling is expected to commence within seven days.
The "Carbonear" property covers 214 claims comprising approximately 33
square km located 80 km west of St. John's, Newfoundland. It is one of the
most geochemically anomalous areas of the Island in terms of base and
precious metal values in lake sediments. The property contains several
large gossanous zones and was explored in the early 1990's by Cominco by
means of geochemical and airborne geophysical surveys. Several airborne
magnetic anomalies and EM conductors were identified but none was followed
up by either ground geophysical surveys or drilling at that time.
The geochemically anomalous belt is underlain by mid to late-Precambrian
clastic sediments. It exceeds 6 km in length and averages over 1.5 km in
width. A thin veneer of glacial till covers most of the property but
outcrops reveal numerous layered, stratiform occurrences of 2-4% pyrite and
pyrrhotite. Highly anomalous geochemical values from stream sediment
samples range up to 3490 ppm zinc (0.35% Zn) and 540 ppm lead; from soil
samples up to 5000 ppm zinc (0.50% Zn) and 897 ppm lead; and from pond
sediments up to 1530 ppm zinc and 253 ppm lead. As well, the property
contains several unexplained pond sediment geochemical gold anomalies. The
property has a geological potential similar to the giant Sullivan base metal
deposits of British Columbia (160,000,000 tonnes of 6% lead and 6% zinc).
During the 1996 field season approximately 40 line km of magnetic, max-min
electrical conductivity and VLF-EM surveying were completed on grids over
two areas on the property. Several interesting conductors were identified.
Two of them exceed 1.5 km each in length and their alignment suggests that
they may be continuous across the 1.6 km wide Gull Pond. They are
coincident with the most geochemically anomalous zone for lead in soils.
Ten drillholes are planned to test these conductors from locations which may
vary with progressive results. All rock units dip moderately to the west
and drillholes will be inclined to the east with lengths of 75-125 m. The
total drilling program will consist of approximately 1,000 metres and will
represent the first time that this property has been tested by drilling.
For more information and a copy of the drill location map, please contact
Mr. Len Harris, President of Consolidated Viscount Resources Ltd. at
(604)488-0133, 1-800-665-9404, or fax (604)669-5715, or Email:
sbroster@intergate.bc.ca
Website: stockgroup.com
"Signed"
Richard H.T. Garnett
Director Trading Symbol: CVR-VSE
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the accuracy of this release. |
