GAMMON LAKE RESOURCES INC.
Canadian Quotes from Telenium
GAM. (TSE)
Attention Business Editors:
Gammon Lake's drill target definition program sampling yields significant gold and silver values at the newly explored San Martin zone
TSE Symbol: GAM
Issued: 20,670,066 Shares
News Release No. 9-2001
DARTMOUTH, NS, April 18 /CNW/ - Gammon Lake Resources Inc., (TSE:GAM)
reported today the following significant chip sample results from its newly
discovered San Martin zone at Ocampo:
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SAMPLE GOLD GRAMS SILVER GRAMS WIDTH
NUMBER PER TONNE PER TONNE METRES
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MAR 1 0.66 16 0.8
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MAR 5 less than .07 less than 3 1.3
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MAR 10 less than .07 less than 3 1.2
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MAR 13 2.90 7 0.4
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MAR 15 0.79 6 0.3
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MAR 16 1.55 17 1.3
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MAR 20 13.98 244 0.9
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MAR 25 55.09 354 0.3
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MAR 26 5.41 24 0.6
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MAR 30 1.01 16 0.7
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MAR 31 2.74 15 0.6
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MAR 35 1.08 15 0.7
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MAR 38 5.88 22 1.0
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MAR 39 9.49 3 0.8
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MAR 40 1.27 less than 3 1.0
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MAR 45 .64 less than 3 0.5
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MAR 46 1.93 13 0.4
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MAR 49 2.69 24 1.7
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MAR 50 .68 11 0.3
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>>
The assays listed include every fifth sample of the fifty taken and the
ten yielding the highest values. Samples and sample sets were taken at ten
metre intervals along the backs of the entire adit.
The San Martin zone is in the northern portion of the Ocampo property and
the structure has been mapped and sampled over 200 meters in the newly
discovered adit. The Company considers chip sampling as preliminary testing
and a drill program is planned to commence shortly to establish the width and
consistency of mineralization at the San Martin zone. The Company is very
encouraged that such significant mineralization has been discovered in an area
not before exposed to modern exploration. Management believes that the San
Martin structure is a further indication that the Ocampo project may host a
far larger resource than has been outlined to date.
Gammon Lake's 2001 exploration and development program will focus on:
(a) the completion of a pre-feasibility study under the direction of
Watts, Griffis & McOuat;
(b) aggressively expanding the large resource already drilled at
Ocampo; and
(c) working together with its Mexican partners, interested mining
companies and financial institutions to undertake one of the most
substantial exploration and development programs in Mexico.
All analytical work was performed by ALS Chemex, Vancouver Canada
employing conventional fire assay analysis techniques.
Gregory K. Liller, Vice President Exploration of Gammon Lake Resources
Inc., is the qualified person responsible for the technical results reported
in this news release.
Gammon Lake Resources Inc. is a Nova Scotia based mineral exploration
company with properties in Canada and Mexico. The company's website is
www.gammonlake.com. Shares of the Company trade on the Toronto Stock Exchange
under the symbol GAM.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This News
Release includes certain "forward-looking statements". All statements other
than statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives of Gammon Lake,
are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from Gammon Lake's expectations are exploration
risks detailed herein and from time to time in the filings made by Gammon Lake
with securities regulators.
%SEDAR: 00009833E
-30-
For further information: Terence Donahoe, Q.C., Chairman of the Board &
Senior V.P., Inquiries and Investor Relations, Gammon Lake Resources Inc.,
tel: (902) 468-0614, fax: (902) 468-0631
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