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cos.com HITS at GEO REF ( geology referances ) on the word MAZAMA are 106 hits and URLs in history.
InterAmerican Resources, Inc. Announces High-Grade Surface Mineralization Discovered At Mazama
InterAmerican Resources, Inc. Announces High-Grade Surface
Mineralization Discovered At Mazama
MIAMI, Dec 6, 2001 (BUSINESS WIRE) -- InterAmerican Resources, Inc.'s (OTC:IAMR)
wholly-owned subsidiary Sovereign Resources, Inc. ("Sovereign Resources")
reports that recent surface sampling has discovered previously-unrecognized
high-grade copper and silver mineralization at the company's Mazama porphyry
Cu-Mo project.
Samples were collected by Sovereign Resources geologists across areas where
significant alteration and copper (sulfide + oxide) mineralization was observed.
Results were as follows:
Copper Molybdenum Silver
Sample Number (% Cu) (% Mo) oz/ST
-----------------------------------------------------------
8-1 1.19% 0.001% 0.029
9-1 0.83% 0.013% 0.058
9-2 0.29% 0.001% 0.015
9-5 0.60% 0.006% 0.015
9-6 0.75% 0.008% 0.044
F-1 0.20% (trace) 0.015
F-2 0.10% (trace) 0.015
Average: 0.57% Cu 0.004% Mo 0.027 oz Ag/ST
InterAmerican's geologic consultants' report that Sample 8-1 was taken in an
area where significant chalcocite mineralization is exposed at the surface along
trend with the main orebody. Surface sampling and trenching by Noranda in the
same general area previously returned 0.78% Cu over 50 feet and 0.47% Cu over
150 feet.
IAMR's consultants were also very encouraged by the assays taken from the Fawn
claim group (F-1 & F-2), which demonstrated anomalous copper, molybdenum and
silver mineralization over a very significant area that may, in fact, represent
a major extension of the previously-defined proven and probable ore reserves
reported by Quintana Minerals (143,718,000 ST grading 0.36% Cu and 0.008% Mo).
These results also support Sovereign Resources' belief that previously-reported
copper grades at Mazama may have been significantly understated. These sample
assays also suggest that the previously-reported Mazama ore reserve may in fact
host significant silver credits.
All samples referred to in this news release were shipped to ALS Chemex Labs in
Sparks, Nevada. Preparation of the samples involved drying, crushing, and
pulverizing to -150 mesh. ALS Chemex sample preparation procedures include the
use of a barren wash of the sample preparation equipment between sample batches.
All samples were assayed with a mixed acid digestion procedure, with copper
(Cu), molybdenum (Mo) and silver (Ag) concentrations measured by Inductively
Coupled Plasma Atomic Emission Spectrometry (ICPAES) at ALS Chemex Lab.
Appropriate blanks, standards and duplicates were used during the assaying
procedures. Samples exhibiting anomalous values (high or low) were re-analyzed
using either the original pulp or a second split.
All pulps and rejects from which the samples were derived are available at ALS
Chemex Labs for future reference.
Drilling on the Company's Mazama deposit has been delayed by logistical and
weather-related causes. InterAmerican Resources is optimistic that it will be
able to resume drilling shortly. The initial core hole will test the zone of
high-grade copper mineralization indicated by Sample No. 8-1 (1.19% Cu).
ON BEHALF OF THE BOARD Allan Smith President
This press release contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995 (the "Act"). In particular,
when used in the proceeding discussion, the words "plan", "confident that",
"believe", "expect", or "intend to" and similar conditional expressions are
intended to identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such statements are
subject to certain risks and uncertainties and actual results could differ
materially from those expressed in any of the forward-looking statements. Such
risks and uncertainties include, but are not limited to, market conditions, the
availability of components for, and delays in the start of production, general
acceptance of the company's products and technologies, competitive factors, the
ability to successfully complete additional financing and other risks described
in the company's SEC reports and filing.
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
-0-
KEYWORD: FLORIDA
INDUSTRY KEYWORD: MINING/METALS
SOURCE:
InterAmerican
Resources,
Inc.
STOCK SYMBOLS: [(iamr)]
and last Mazama NR :
InterAmerican Resources, Inc. Announces Significant Land Position in the Mazama Porphyry Copper Deposit
InterAmerican Resources, Inc. Announces Significant Land Position in the
Mazama Porphyry Copper Deposit
MIAMI, Nov 9, 2001 (BUSINESS WIRE) -- InterAmerican Resources, Inc. (OTC:IAMR)
announced today that the core assets of InterAmerican Resources wholly-owned
subsidiary Sovereign Resources, Inc. ("Sovereign Resources") is the Mazama
project.
The Mazama copper-molybdenum porphyry deposit is located in north central
Washington on the eastern flank of the Cascade Mountain Range within the
Okanogan National Forest. Mazama is situated about 25 miles south of the
Canadian border, approximately 120 miles northeast of Seattle, and 12 miles
northwest of Winthrop, and the closest town. Access to the property is via
well-maintained Forest Service roads.
Sovereign Resources has assembled a significant land position in the Mazama
District.
The company's land position consists of 81 unpatented BLM lode mining claims
totaling 1,620 acres, covering virtually all of the previously-delineated Mazama
ore deposit, as well as areas considered to have excellent potential for
discovery of significant additional porphyry Cu-Mo-Ag-Au mineralization.
Sovereign Resources is negotiating to acquire one final claim to complete its
consolidation of the Mazama District.
During the 1960s and 1970s, Mazama was explored by several major mining
companies.
Bear Creek Mining (the exploration division of Kennecott) did the initial
exploration work at Mazama, conducting geophysical surveys and core drilling in
1963 and 1964. Brenda Mines briefly optioned the property in 1968. Inspiration
Development Co. optioned the Mazama project in 1970 and subsequently drilled 16
core holes (18,517 feet). During the 1970s, Exxon Minerals drilled several
hundred shallow (less than 100 ft) percussion holes to the south and east of the
main ore zone, seeking to outline a second porphyry deposit.
Quintana Minerals acquired the Mazama project in late 1973, and over the next
several years, spent approximately $1,000,000 on exploration and development
work, including drilling 14 core holes (12,168 ft). Quintana also completed
various pre-feasibility / scooping studies, engineering / metallurgy work and
mine plans for a proposed 30,000 ST/day mining and milling operation.
Copper mineralization at Mazama extends to considerable depths: Quintana drill
hole No. 17 intersected greater than 0.30% Cu at a depth of 1,900 feet. All
areas drilled to date exhibit excellent continuity and consistency of copper
grades.
Among the best drill intercepts to date at Mazama are:
Hole No. From To Interval Copper
-------- ------- ------ -------- ------
9 190 ft 992 ft 762 ft 0.39%
15 310 ft 1372 ft 962 ft 0.42%
25 53 ft 1117 ft 858 ft 0.36%
31 86 ft 886 ft 800 ft 0.46%
Quintana Minerals previously reported a mineable (proven + probable) ore reserve
estimate for Mazama of 143,718,000 ST grading 0.36% Cu and 0.008% Mo containing
approximately one billion pounds of copper and more than 20 million pounds of
molybdenum. At today's depressed metals prices, the value of the copper and
molybdenum "in the ground" is approximately US$650 million.
None of the prior drilling programs assayed for gold or silver, although recent
sampling by Sovereign Resources indicates that the Mazama deposit hosts
potentially-significant precious metals credits. Additionally, work undertaken
by Sovereign's geologists suggests that the copper grades at Mazama may also be
significantly understated due to improper drill orientation.
Mazama is believed to have significant exploration potential.
An independent report prepared in 1991 by Brian K. Jones reportedly estimated
the potential within the Mazama mineral system to be on the order of 500 million
ST at 0.40% Cu and 0.01 oz Au/ST containing approximately four billion pounds of
copper and five million ounces of gold.
The primary porphyry copper mineralization at Mazama extends over a minimum
strike length of 5,000 feet SW-NE and remains open along strike; recent
exploration work by Sovereign Resources indicates that fault-offsets to the
known Mazama deposit may extend the strike length by several additional miles.
Overall, copper mineralization at Mazama reportedly extends over a 12-square
mile area, and, as such, Mazama may represent one of the largest under-explored
copper porphyry systems in North America.
ON BEHALF OF THE BOARD Allan Smith President
This press release contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995 (the "Act"). In particular,
when used in the proceeding discussion, the words "plan", "confident that",
"believe", "expect", or "intend to" and similar conditional expressions are
intended to identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such statements are
subject to certain risks and uncertainties and actual results could differ
materially from those expressed in any of the forward-looking statements. Such
risks and uncertainties include, but are not limited to, market conditions, the
availability of components for, and delays in the start of production, general
acceptance of the company's products and technologies, competitive factors, the
ability to successfully complete additional financing and other risks described
in the company's SEC reports and filing.
CONTACT: InterAmerican Resources, Inc., Miami
Allan Smith, 305/438-0020
email: interamericanresources@yahoo.com
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
-0-
KEYWORD: FLORIDA
INDUSTRY KEYWORD: MINING/METALS
SOURCE:
InterAmerican
Resources,
Inc.
STOCK SYMBOLS: [(iamr)] |
