Goldminco Consolidated Mining Corp. GMC (was GMO) Message Board

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Gold/Mining/Energy : Goldminco Consolidated Mining Corp. GMC (was GMO)

GMO 0.0121

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Jan 21 4:00 PM EST

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To: Bearcatbob who wrote (547)	7/3/1997 9:25:00 AM
From: John W Murphy	of 588

Ltest Press release! Drill holes completed on Posie, North Posie and Alaska targets Goldminco Mining Corporation GMO Shares issued 13,138,736 Jul 2 close $0.36 Thu 3 Jul 97 News Release Mr Peter Tambanis reports The company completed 15 diamond drill holes and one reverse circulation percussion drill hole on the Posie, North Posie and Alaska targets. Assay results currently available for six of the drill holes indicate that gold mineralization at Posie and North Posie are associated with at least three narrow quartz veins in granitic rock. These veins appear to dip steeply towards the west or vertically and continue to a depth of at least 45m. In a previously untested area north of North Posie (North Posie Extended) and at Alaska, four drill holes have intersected gold mineralization at the contact between granite and metasediment. Trenching at Posie, North Posie and North Posie Extended has identified a horizon of gold-bearing quartz pebbles beneath the surface sand and over a strike length of approximately 1,300m, with best grades 42 g/t. Goldminco is currently considering mining the close to the surface pebble layer and the known reserves in the old mining leases within the exploration area to provide the funds required to ontinue exploration work at Alice River and nearby applied areas. An additional drilling and soil program will commence immediately with ten reverse-circulation holes and 238 soil samples. Best Of Luck

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